The Consolidated Appropriation Act, 2021 (Act) generally provides the annual funding for the federal government and contains several important rules giving further COVID-19 relief. These include, among other things, revisions to the Paycheck Protection Program (PPP), expansion of the employee retention tax credit and changes to other employer related tax provisions.
The Act was passed by Congress on December, 21, 2020 and signed by President Donald Trump on December 27, 2020. A summary of the 2021 Consolidated Appropriations Act has been provided and highlights some of the PPP and tax provisions we believe will be of interest to employers.
