The Consolidated Appropriations Act, 2021, a Covid-19 relief bill passed right before the New Year to help millions of struggling individuals and businesses. The bill includes stimulus checks to individuals and couples within a certain income bracket, extended unemployment benefits and Paycheck Protection Program loans for businesses.

The Journal of Accountancy breaks down the eligibility, loan terms, tax deductibility and other issues related to the Paycheck Protection Program.

See the full breakdown of the Bill and more information about the PPP from the Journal of Accountancy.