COVID-19 Relief Bill Addresses Key PPP Issues
The $900 billion coronavirus relief package passed by Congress provides $284 billion for a revised Paycheck Protection Program and clarifies that businesses can claim tax deductions for expenses paid for with forgiven PPP loans. The package also provides $600 payments to individuals and adds $300 to extended weekly unemployment benefits.
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** This information is provided for general educational purposes only. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.