12.22.20 NEW Pandemic Relief Update

From the American Institute of Certified Public Accountants (AICPA)

Yesterday afternoon, Congress released the text of its $900 billion pandemic relief bill. With over 5,500 pages, there’s a lot we still need to review. However, a few key provisions impacting small businesses and the profession are immediately apparent.

One big success?

PPP loan-related expenses will be deductible.

We’re still working through the legislation and will continue to provide you with additional updates as we learn more.

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