FIRST Act

United States116th CongressHR-6884House of Representatives
Updated: May 15, 2020

Summary

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).

Bill texts

Available versions
Introduced (House)View official text

1 version available

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Timeline

Latest companion bill action

S-3645: FIRST Act

Introduced in Senate

  1. Referred to the House Committee on Ways and Means.

    House of Representatives

  2. Introduced in House

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