Baldwin Haspel Burke & Mayer LLC

BHBM Tax Law Alert | COVID Relief Bill Receives Congressional Approval

Posted on by Baldwin, Haspel, Burke & Mayer

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FEDERAL UPDATE

COVID Relief Bill Receives Congressional Approval

On Monday, December 21, Congress voted to approve a $900 billion COVID relief package that promises to expedite vaccine distribution and deliver financial assistance to small businesses, individuals and health care workers.

The stimulus package is set to include direct payments of up to $600 per adult, enhanced unemployment benefits of $300 per week for 11 weeks (through March 14), roughly $284 billion in Paycheck Protection Program loans, $25 billion in rental assistance, and an extension of the eviction moratorium.

Key Provisions of the Consolidated Appropriations Act, 2021:

This bill is pending presidential approval and is subject to change.

If you have any questions regarding how this stimulus package might affect you and/or your business, please contact our tax law group.


To visit our COVID-19 Business Resource Center, including our previous Tax Law Alerts, click here.

If you would like to receive BHBM Email Tax Alerts to stay informed on the latest changes in tax law, subscribe here.

The information contained within this newsletter does not constitute legal advice and is not intended to create an attorney-client relationship. You should consult an attorney for individual advice regarding your own particular situation.


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