Breaking Down the 2020 CARES Act

Understanding the $2 trillion stimulus package.

 As you likely know, the federal government, led by Congress and signed into law by President Trump, recently passed a stimulus bill to help those affected by the devastating COVID-19 outbreak.  It is known as the Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, and it contains financial support for businesses (especially those industries hit hardest) and employees, as well as individuals and families.

 

A Quick Primer on the provisions of the CARES Act:

Source: Coronavirus Aid, Relief, and Economic Security Act

The information in this document is not intended as legal or tax advice. Consult with your tax advisor for specific tax planning or your business banking advisor for specific business planning.