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Month: January 2021

New Round of Stimulus Payments Authorized

January 6, 2021 relanetAdminNews

The Consolidated Appropriations Act, 2021, which was signed into law on December 27, 2020, directs the Department of the Treasury to deliver additional Economic Impact Payments (known more popularly as “stimulus payments”) to U.S. citizens and residents. These payments are […]

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New Law Permits Deduction of PPP Expenses

January 6, 2021 relanetAdminNews

The Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, specifies that business expenses paid with forgiven PPP loans are tax-deductible. This supersedes previous IRS guidance which stated that these expenses could not be deducted. The Appropriations Act […]

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New Round of PPP Loans Authorized by Congress

January 6, 2021 relanetAdminNews

Part of the Consolidated Appropriations Act, 2021, signed into law on December 27, 2020, authorizes another round of Paycheck Protection Program (PPP) loans for small businesses. This new round of PPP loans, being called “PPP2” by some, is similar to […]

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New COVID-19 Relief Bill Signed Into Law

January 6, 2021 relanetAdminNews

On December 27, President Trump signed into law the COVID-19 relief bill that was passed by Congress on December 21, 2020. The legislation, the Consolidated Appropriations Act, 2021, extends weekly benefits for unemployed workers, and provides more than $300 billion […]

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Dukes Consulting Services & Tax

917 W 18th St
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Chicago, IL 60608
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