Support for small businesses under the CARES Act

Last Friday, the president signed into law the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Among many other provisions included within the act, $349 billion in loans will be available for small businesses. Here are a few of the key highlights of the legislation: Paycheck Protection Program Small businesses will be eligible to … Continued

Business and Individual Tax Provisions of the CARES Act

The federal government’s efforts to relieve some of the financial pain brought on by the COVID-19 pandemic includes passage of the CARES (Coronavirus Aid, Relief, and Economic Security) Act, which was signed into law by the president today. Like many pieces of federal legislation, the Act is a massive document with a lot to digest, … Continued

Federal government tax-related actions taken to date regarding COVID-19

Below is a summary of IRS action already taken and federal tax legislation already enacted to ease tax compliance burdens and economic pain caused by COVID-19 (commonly referred to as coronavirus). We’ll post summaries of additional developments as they take place. Filing and payment deadlines deferred After briefly offering more limited relief, the IRS almost … Continued