After months of delay, Congress finally approved a $900 billion economic stimulus package shortly before midnight on December 21, 2020, which President Trump signed into law on December 27, 2020. The COVID-19 relief package was tied into a separate $1.4 trillion resolution to fund the government through September 30, 2021, and is known as the Consolidated Appropriations Act of 2021. Below are the most significant provisions for you and your practice:

Paycheck Protection Program (PPP) Expanded

1. The new law allocates another $284 billion to the Small Business Association (SBA) for additional forgivable PPP small business loans. In order to ensure these funds go to the hardest hit small businesses, eligibility is limited to...