Client Advisory – The CARES Act

On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act.  The new law provides extensive relief to small businesses and individuals to combat the economic hardships caused by the COVID-19 pandemic.  Small businesses have the opportunity to apply for loans that will be forgiven in full if certain conditions are met, and certain business-friendly tax changes were also enacted.  Many individuals will receive tax credits in the form of rebate checks, and rules surrounding unemployment insurance were relaxed to include more workers.