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Client Advisory – PPP “Round 2” Highlights New Federal Stimulus Package

On Monday December 21, 2020, Congress passed a new $900 billion fiscal stimulus package aimed at boosting an economy still struggling with the effects of COVID-19.

The new legislation provides $284 billion of new funding for the Paycheck Protection Program (“PPP”) and allows for some businesses to apply for a second round of funding. The bill also modifies or clarifies several PPP-related rules and procedures.

In addition, Congress approved direct cash payments to many taxpayers and further aid to certain industries.

Please see our latest alert for more details.