COVID-19 Relief in 2021: What Small Businesses Need to Know

PilieroMazza PLLC
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The recent $900 billion COVID-19 economic relief package is delivering long-overdue help to businesses and individuals. The related legislation, the Consolidated Appropriations Act, provided more than $300 billion in aid for small businesses. It also ensured tax deductibility for business expenses paid with forgiven Paycheck Protection Program (PPP) loans, provided fresh PPP funding, and offers businesses facing severe revenue reductions the opportunity to apply for a second loan. However, it did not renew Families First Coronavirus See more +
The recent $900 billion COVID-19 economic relief package is delivering long-overdue help to businesses and individuals. The related legislation, the Consolidated Appropriations Act, provided more than $300 billion in aid for small businesses. It also ensured tax deductibility for business expenses paid with forgiven Paycheck Protection Program (PPP) loans, provided fresh PPP funding, and offers businesses facing severe revenue reductions the opportunity to apply for a second loan. However, it did not renew Families First Coronavirus Response Act-related leave requirements, and it did not include immunity provisions for businesses from coronavirus-related lawsuits. With these and other developments, understanding how the new law impacts your business is essential to positioning it for success in 2021.

Join Blaine Klusky of Hearken Advisors and members of PilieroMazza’s COVID-19 Client Response Team—Isaias “Cy” Alba, Nichole Atallah, and Kathryn Hickey—for a one-hour webinar on February 2nd at 2:00 PM ET as they discuss:

- Developments for the PPP,

- Lessons learned from PPP round one,

- Changes in sick leave,

- COVID-related liabilities small businesses may face, and

- Much more. See less -

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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