The Consolidated Appropriations Act, 2021, H.R. 133, passed both houses of Congress late on December 21, 2020 and signed into law on December 27th.
There is a lot going on in this bill which is very heavily weighted in both tax and financial provisions. The total bill consists of 5,593 pages with $900 billion in Coronavirus stimulus relief along with an additional $1.4 trillion in omnibus spending to prevent a government shutdown.
We have put together the following selective, high-level overview of the bill’s major tax and relief provisions. Since this law is in its initial drafting, we expect significant regulations as it becomes law and begins being implemented.
We will publish additional information as regulations continue to develop.
If you have any questions regarding this law or strategies regarding your specific situation, please do not hesitate to contact us at 912.353.7800 or at firstname.lastname@example.org