American Rescue Plan – Tax Provisions You Need to Know

Last week, the American Rescue Plan was passed by Congress and signed into law by President Biden. Among the bill’s approximately 5,000 pages, which provide funding to a myriad of projects, a portion provides COVID-19 relief to many individuals and businesses.

The bill is multi-faceted, with different elements dedicated to small businesses, schools, healthcare providers, agricultural suppliers and more. Additionally, the bill includes numerous tax provisions that you should be aware of this tax season, including:Concierge business brokerage and business valuation services to exceptional Texas business owners

  • Unemployment benefits
  • Recovery rebates
  • COBRA continuation coverage
  • Child tax credit
  • Earned income tax credit
  • Child and dependent care credit
  • Family and sick leave credits
  • Employee retention credit
  • Premium tax credit
  • Student loans

For a full list and analysis of the tax provisions included in the American Rescue Plan, we recommend you check out this helpful article from the Journal of Accountancy: “American Rescue Plan Act passes with many tax components.”


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American Rescue Plan – Tax Provisions You Need to Know