Blog

The American Rescue Plan Act of 2021 is now a done deal. Among the items of greatest interest to most Americans is a third round of stimulus checks — or IRS “recovery rebates”— of up to $1,400 for every “eligible individual.”

That’s the quick take, but what’s the fine print?

As you know, Congress passed a massive new stimulus bill that was enacted into law on December 27, 2020. Most of the public’s attention has been focused on the bill’s authorization of additional stimulus checks, new PPP loans and other aid targeted to struggling businesses.

As we covered recently, environmental, social, governance (ESG) investing is a relatively new approach for investing “ethically,” however you define the term.

The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention Credit (ERC). Prior to its passage, if an employer obtained a Paycheck Protection Program (PPP) loan, the employer was ineligible to claim the ERC.

“You can’t invest without trading, but you can trade without investing.… [T]hinking you’re investing when all you’re doing is trading is like trying to run a marathon by doing 26 one-mile sprints right after the other.” — Jason Zweig

President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals he wants Congress to enact to address the COVID-19 pandemic and associated economic crisis.

Today, let’s pause and take a moment to reflect on the wondrous powers of small, quiet acts.

By Jeff Drew at Journal of Accountancy
Updated: December 27, 2020

President Donald Trump on Sunday night signed into law the $900 billion COVID-19 relief bill passed Dec. 21 by Congress.

Key provisions in the bill include:

If there’s one trait nearly everyone shares, it’s a desire to make the world a better place. No wonder there’s so much interest in environmental, social, governance (ESG) investing. Who wouldn’t want to try earning decent if not stellar returns, while contributing – or at least causing less harm – to the greater good?

After months of political bickering, Congress has reached an agreement on an emergency coronavirus relief bill, and the President has said he would sign it. Although not all the details are fully available yet, the following provides a good overview of the provisions affecting individual taxpayers and small businesses.