COVID-19: CARES Act Tax Provisions and Opportunities

Information about COVID-19 is changing daily and so is legislation. On March 27, 2020, the president signed a $2 trillion emergency spending bill, the Coronavirus Aid, Relief and Economic Security Act (CARES Act), intended to provide a third round of federal government support in the wake of the COVID-19 health and economic crisis.

Key topics to be discussed include:

• Employee retention credit and employer payroll tax payments
• Net operating loss provisions and excess business loss limitations
• Acceleration of minimum tax credits for corporations
• Changes to interest expense disallowance rules
• Individual tax considerations and recovery rebates

The business challenges are changing each day; you can count on GBQ to keep up.