The COVID Relief Bill was signed into law yesterday, December 27th 2020. In addition to new sources of federal aid for businesses and individuals, the bill includes many changes to existing relief, 2020 taxes and future income taxes. We have included a summary of the key details below.

On October 8th, 2020, the SBA released a new forgiveness application for PPP loans. The new application is available to businesses who received a loan of $50,000 or less and eliminates reductions in forgiveness based on wage or employee reductions.