Hidden Tax Break: Meal Deductions Get a Boost

The recently passed relief bill, officially called the Consolidated Appropriations Act, 2021, contained a provision designed to give a boost to the restaurant industry: upgrading what had been a 50% meal deduction to 100% for “food or beverages provided by a...

What’s the New Jobless Benefit Aid?

In the Consolidated Appropriations Act, 2021, Congress is adding federal unemployment benefits of $300 for at least 10 weeks — possibly 11. Details can get complicated, however, and because the bill was signed at the last minute, there is some uncertainty about how...

Aid Package Signed Into Law

As a follow-up to our blog post: New Coronavirus Stimulus Bill Passes Congress with PPP Loan Updates and Tax Implications, and our article related to the Impact of the Stimulus Bill for Individuals, President Trump signed the aid package bill late on December 27. A...

New Coronavirus Stimulus Bill Passes Congress; Impact for Individuals

The U.S. Senate and House of Representatives overwhelmingly passed the Consolidated Appropriations Act, 2021 a $900 billion COVID-19 relief bill last night that provides $600 stimulus payments to individuals, adds $300 to extended weekly unemployment benefits, and...

New Coronavirus Stimulus Bill Passes Congress with PPP Loan Updates and Tax Implications

After months of negotiation and wrangling over additional coronavirus (COVID-19) pandemic relief legislation, House and Senate leaders struck a bipartisan funding deal over the weekend. Last night the U.S. House of Representatives and Senate overwhelmingly passed H.R....

Congress Hammers Out First Draft of Aid Package

Congress has been furiously debating the provisions of a relief package: what to provide, to whom and how much. Although the lawyers are still getting the details down on paper, the main provisions are clear. We’ll be revisiting this topic in the coming days as...
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