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The CARES Act, signed into law on March 27, 2020, was drafted to offer flexibility and relief for workers and businesses trying to make ends meet through the challenges created by the nationwide response to the Coronavirus. The 400+ page bill covers a wide range of provisions put into place to offer the average American worker and small business owner a chance at maintaining some level of financial stability while the economy is essentially on pause.
To continue to learn more about how the CARES Act may be able to help you or your business, browse the resources below and follow up by contacting a trusted advisor or tax professional with any questions.
The Coronavirus Aid, Relief, and Economic Security Act, also known as the CARES Act, is now law. This historic and sweeping legislation was created to help keep workers paid and employed, allows businesses to remain operational and makes necessary health care system enhancements to stabilize the economy.
Paycheck Protection Program updates for Small Business Owners
The Paycheck Protection Program prioritizes millions of Americans employed by small businesses by authorizing up to $349 billion toward job retention and certain other expenses. If you’re interested in applying for a loan through the Paycheck Protection Program, please check with your attorney or accountant and reach out to an SBA approved lender (usually a local bank or credit union) for more information.
CARES Act and Coronavirus relief updates for Small Business Owners and Plan Sponsors
As a small business owner, employer, or plan sponsor, you may be experiencing stress around how to keep up with the costs around maintaining a business through a period of decreased income or complete shutdown. The following provisions included in the CARES Act may provide next steps:
CARES Act provisions impacting small businesses
CARES Act and Coronavirus relief for Individuals
Employees and investors alike are facing a turbulent market and potentially decreased hours or the loss of a job. With the national response to COVID-19, legislators wrote the CARES Act which includes provisions meant to help workers make ends meet. Check out the information below to get insight on how to take advantage of available relief:
How the CARES Act is supporting American Workers
More CARES Act details & information:
National Association of Plan Advisors: