The Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 has been passed in response to the COVID-19 pandemic. Summaries of key provisions and the ways in which they directly affect individuals and businesses are linked below. Please note, this is not intended to serve as an all-inclusive summary and clients should refer to the complete CARES Act for more information. Should you have any questions, please do not hesitate to contact our office.
Highlights include details on Recovery Rebates being issued directly to taxpayers, Student Loan updates, Tax implications, Retirement Planning Distribution changes and Unemployment Benefit increases.
Highlights include the Paycheck Protection Program, details on applying for EIDL Grants, Tax updates and changes for employer-sponsored retirement plans.