ARTICLE · 08 JANUARY 2021

Consolidated Appropriations Act, 2021: Tax Update

Schwabe Williamson & Wyatt

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On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the "Act").

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Alee Soleimanpour

On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021 (the "Act"). The Act, which includes the COVID-19-related Tax Relief Act of 2020 and the Taxpayer Certainty and Disaster Tax Relief Act of 2020, contains information on a wide array of new laws affecting individuals and businesses and clarifies and modifies certain provisions of the Coronavirus Aid, Relief, and Economic Security Act (the "CARES Act," as amended and modified by prior legislation). This article summarizes some of the tax-related highlights of the Act, including:

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