Late yesterday, both houses of Congress passed The Consolidated Appropriations Act, 2021 to fund the federal government through the end of its September fiscal year.
Included in the 5,593 pages of that funding legislation was the COVID-related Tax Relief Act of 2020, a new round of COVID-19 provisions aimed at helping certain industries, individuals, and small businesses.
The final text of the legislation—which was released just before 2:00 p.m. on Monday—includes the following major provisions:
Benefits for Individuals:
Benefits for Business Owners
President Trump is expected to sign the two bills that comprise the Act before the Friday night expiration of the current appropriations stop-gap bill.
If you have any questions about the information above, please contact your E. Cohen advisor.
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