More pandemic relief is officially on the way. In late December 2020, then-President Donald Trump signed a new, $900 billion COVID-19 stimulus package known as the 2021 Consolidated Appropriations Act (CAA). In this episode, we cover three key changes introduced by this bill that HR parties of one need to know right now.
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▬ Contents of this video ▬▬▬▬▬▬▬▬▬▬
00:00 Signing the 2021 Consolidated Appropriations Act (CAA)
00:33 What is the Consolidated Appropriations Act?
02:03 New FSA and Dependent Care Updates
04:28 How HR can take advantage of this new FSA flexibility
05:02 FFCRA Leave Tax Credit Extended
05:34 Why Congress Made Changes to the FFCRA
06:51 Paycheck Protection Program Funds- Replenished & Restructured
07:40 PPP First-Draw Participants
08:10 PPP Second-Draw Participants
08:45 PPP Eligibility & Cost Updates
09:14 PPP Funding for Minority, Veteran, and Women-owned Businesses
09:25 New PPP Deadlines
09:56 Homework
10:19 Final Notes
▬ Episode Resources & Links ▬▬▬▬▬▬▬▬▬▬
U.S. Small Business Administration: Coronavirus Relief Options
https://www.sba.gov/funding-programs/loans/coronavirus-relief-options
Related Episode: CARES Act Summary: How to Prepare for the Coronavirus Stimulus Package
Related Episode: Emergency Sick Leave: Families First Coronavirus Response Act
Related Episode: How to Apply for the Paycheck Protection Program
HR Glossary: FFCRA- Families First Coronavirus Response Act
https://www.bernieportal.com/hr-glossary/families-first-coronavirus-response-act-ffcra/
HR Glossary: CARES Act
https://www.bernieportal.com/hr-glossary/cares-act/
National Law Review: Congress Extends FFCRA Tax Credit into 2021
National Law Review: PPP Update: Guidance for New and Existing Borrowers
https://www.natlawreview.com/article/ppp-update-guidance-new-and-existing-borrowers
National Law Review: Additional Relief for FSA Benefits
https://www.natlawreview.com/article/additional-relief-fsa-benefits
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