Congress reaches agreement on COVID relief bill

As you no doubt saw, over the weekend Congressional leaders came to an agreement on the much-anticipated COVID relief bill. They should be voting on it today. There have been a number of rumors floating around about what is in this new law, specifically with applying for a second round of PPP funding, deductibility of the initial round of PPP, stimulus, unemployment and other potential tax matters. We do not want to prematurely comment on any of these matters until we see what the text of the bill actually says. That text should be made available today, and we are monitoring its status throughout the day. We recognize how important this legislation is to many of you, and we will provide a detailed analysis once we have a chance to digest the text of the bill. Thank you for your support and patience as this legislation is rolled out.