The Consolidated Appropriations Act of 2021 expanded expenses qualifying for Paycheck Protection Plan (PPP) loans and made "second draw loans" available.
Tax highlights of the Consolidated Appropriations Act, 2021
President Trump changed his mind and signed The Consolidated Appropriations Act, 2021 on December 27, 2020. The Act is more than 5,000 pages. There were not very many tax law changes in the Consolidated Appropriations Act compared to the CARES Act enacted during March 2020. Here are a few highlights