Tax,
Labor/Employment
Mar. 30, 2021
New stimulus bill is much needed assistance to local restaurants
The COVID-19 pandemic has been especially tough on the restaurant industry — as of Dec. 1, 2020, more than 110,000 bars and restaurants had closed for business in this country.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
The COVID-19 pandemic has been especially tough on the restaurant industry -- as of Dec. 1, 2020, more than 110,000 bars and restaurants had closed for business in this country. According to the National Restaurant Association, more than 2.5 million jobs have been lost since March, 2020. The American Rescue Plan Act of 2021m which was signed by President Joe Biden on March 11, 2021, sets aside $28.6 billion for beleaguered restaurant operators. These funds are general...
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