Summary: H.R.6884 — 116th Congress (2019-2020)All Information (Except Text)

There is one summary for H.R.6884. Bill summaries are authored by CRS.

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Introduced in House (05/15/2020)

Fixing the Income Ramifications for Small Businesses and Tax Relief Act or the FIRST Act

This bill amends the Coronavirus Aid, Relief, and Economic Security Act to provide that tax deductions for ordinary business expenses and other tax incidents shall not be affected by the exclusion from gross income of amounts related to loan forgiveness received in response to COVID-19 (i.e., coronavirus disease 2019).