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New stimulus package fixes PPP loan confusion
New stimulus package fixes PPP loan confusion
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WASHINGTON While the $600 stimulus payments to individuals took center stage in the latest COVID-19 relief package, a wide range of other benefits are available to help small businesses around the country navigate through these tough times.
A key provision in the latest round of stimulus benefits involves the reversal of an earlier federal ruling that businesses would have to pay taxes on certain benefits received through the Paycheck Protection Program (PPP). This stimulus program pumped billions of dollars into the economy in 2020 and saved many businesses that otherwise would have been forced to close for good.