The American Rescue Plan Act of 2021 (ARPA) provides billions in new funding targeting the hardest-hit small businesses. It also established a new SBA grant program, the Restaurant Revitalization Fund, to help restaurants, bars, and other related businesses impacted by the pandemic. New funding opportunities will be available in the coming weeks. In this post,…
The American Rescue Plan Act of 2021 authorized the third round of economic impact payments, also known as stimulus checks, for individuals and their dependents. These payments are non-taxable. Here are some frequently asked questions regarding eligibility, payment amount, income limitations, how payments will be delivered, and more. When will the third round of stimulus checks…
On March 6th, the Senate voted to pass the 1.9 trillion stimulus plan which includes provisions to make the Child Tax Credit (CTC) available to more families. Millions of American Families could receive advance payments of this credit as early as July. Up to half of the credit could be paid in monthly installments of…
In December 2020, Congress passed the “Taxpayer Certainty and Disaster Tax Relief Act of 2020,” which allows individuals to use their 2019 earned income instead of their earned income from 2020 to figure their Earned Income Tax Credit (EITC). This new “lookback” tax rule provides relief to the millions of Americans that lost their jobs…