In this special edition episode of the Financial RoadMAP podcast, Chris Passmore, MAP’s Managing Partner and founder of the Social Media CPA podcast and vlog, reviews the American Rescue Plan Act of 2021 (ARPA) which was signed into law earlier this month. The ARPA includes significant financial aid for individuals and businesses and Chris explains 5 key provisions for US tax payers.
1) New $1,400 stimulus payment for eligible individuals
2) $300 supplemental unemployment benefits
3) An increase of the child tax credit to $3,600
4) Billions of new funds for business grant and loan programs
5) $25 billion in grants for restaurants to replace lost revenue
We hope you enjoy listening.