On December 27, 2020, the President signed into law the Consolidated Appropriations Act (“CAA”), 2021. The law brings enhancements to CARES Act programs to provide further assistance to businesses and individuals. The team will cover the big wins for a new round of PPP loans, expanded credits available to more employers, deductions for PPP loan related expenses, and more.
Identify businesses that qualify for an additional PPP loan
Consider if an employer is eligible for the employee retention credit in 2020 or 2021
Review the changes to expenses that qualify for PPP loan forgiveness
Address the beneficial change in law to permit deductions for PPP loan related expenses