On December 27, 2020, the Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law by the President. The CAA, 2021 is the fourth major relief legislation enacted in response to the coronavirus pandemic. Some of the provisions grant retroactive relief to 2020.
Tag: CARES
Closing 2020 with Some Good News
Paycheck Protection Program Corrections and Additional Funding Many industries were severely impacted by the COVID-19 pandemic, and real estate was no exception. Leases and loans were renegotiated, rents were deferred or reduced and some tenants went out of business. Congress passed the Paycheck Protection Program (PPP) as part of the CARES Act, and while good[ … ]
Paycheck Protection Program Flexibility Act Signed by President
On June 5, 2020, the President signed into law the Paycheck Protection Program Flexibility Act after it passed the Senate with a unanimous vote. The bill drafted by the House extends certain provisions of the Paycheck Protection Program (PPP) to provide small businesses with relief in the timeframe and use of their PPP loan funds.[ … ]
Donating your stimulus check: How to make a tax-deductible donation
Stimulus checks are already arriving in mailboxes and bank accounts, but not everyone who receives a stimulus check needs the money. Part of the recent CARES Act, these stimulus checks include $1,200 for single filers or $2,400 for joint filers, plus $500 for each dependent child under age 17. The amount of the payment is[ … ]
Paycheck Protection Program – Loan Forgiveness
Updated Information – 5/13/2020 SBA issues new guidance on PPP loan necessity certification The CARES Act includes loan forgiveness provisions for loans received under the Paycheck Protection Program (PPP). The exact details are not yet clear. However, the Small Business Administration (SBA) has promised clarification of the forgiveness provisions at a future date. This Q&A[ … ]
