On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act provides relief for individuals, businesses, governments, the health care system, education, non-profits, and distressed industries.
We have created a dedicated response team that is focused on the specifics of this legislation to provide you with details of what it can mean for you and your business. A summation of the top provisions of this legislation as it relates to small businesses is here. Our response team will continue to provide more detailed alerts regarding the Act.
This legislation is vast, complex and developing through enactment, but we are working diligently to be a resource for you. Please reach out to your accounting partner for additional information or guidance.