Updates from the Firm

The Consolidated Appropriations Act of 2021 (CAA) was signed into law on December 27, 2020. Among other things, the law provided additional funds for the Paycheck Protection Program (PPP), and provided clarification and simplification for the loan forgiveness process.

After some fits and starts, the Consolidated Appropriations Act of 2021 (CAA) was signed into law on December 27, 2020. Along with stimulus checks, increased unemployment benefits, and a variety of other items meant to help those in need, the law also provided some clarity on key issues relating to the Paycheck Protection Program (PPP).

$400,000 seems to be the central number inside the proposed Joe Biden tax plan. The candidate has stated repeatedly that those with taxable incomes of under $400,000 will not see a tax increase, while those with incomes above that threshold could see higher taxes of varying degrees. So, what does this mean?