What the Latest COVID-19 Aid Means for Your Church
The Consolidated Appropriations Act of 2021 (CAA) was signed into law recently, and one of its key features was the inclusion of $900 billion more in stimulus efforts tied to the COVID-19 pandemic. If you missed this development, you need to note several key items included with CAA that affect churches:
Paycheck Protection Program Second Draw Loans The forgiveness process for PPP loans of $150,000 or less Changes to the qualifying expenses eligible for PPP loan funds Unemployment assistance for those who otherwise fail to qualify for state unemployment benefits Paid leave, and more
Want to go deeper on the CAA? Church Law & Tax is hosting an exclusive webinar on January 21 featuring attorney, CPA, and senior editor Richard Hammar. Hammar will cover key tax developments, including more about the CAA. To make sure you don't miss it, become an Advantage Member, and get access to register.
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