Federal

ARPA: Unemployment Partially Excluded from Income for Some Taxpayers

A little-reported provision of the American Rescue Plan Act of 2021 (ARPA) – Unemployment Benefits Received in 2020 May Be Partially Excluded from Income for Some Taxpayers Many Americans found themselves collecting unemployment as the pandemic took hold in early 2020. Those taxpayers are now in the process of filing their income tax returns for […]

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PPP Deadline Extension is Signed Into Law

The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31, 2021, when the PPP Extension Act of 2021 was signed into law this week. The PPP Extension Act does not provide any additional funding for the current round of the PPP, which Congress provided with more than $290 billion to […]

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ARPA proposes to help “rescue” nonprofits

No one needs to tell nonprofit organizations how tough the past year has been. According to the John Hopkins Center for Civil Society Studies, 7.7% of not-for-profit workers — nearly one million people — lost their jobs between February 2020 and January 2021. An even higher percentage of arts and education organizations lost jobs last […]

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What’s in the American Rescue Plan Act (ARPA)?

The American Rescue Plan Act, 2021 (ARPA) was signed by President Biden on March 11, 2021 to help businesses, nonprofits and individuals affected by COVID-19. The legislation extends and expands provisions found in the Families First Coronavirus Relief Act (FFCRA), Coronavirus Aid, Relief and Economic Security (CARES) Act, and the Consolidated Appropriations Act, 2021 (CAA, […]

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