
Congress has officially passed the Coronavirus Aid, Relief, and Economic Security Act, otherwise known as the CARES Act. The mission of this bill is to provide emergency and health care assistance to individuals, families, and businesses affected by the 2020 coronavirus (COVID-19) pandemic. Below is a summary of resources regarding the CARES Act for both businesses and individuals. We will update information as it becomes available:
FOR BUSINESSES & SELF-EMPLOYED INDIVIDUALS
- Emergency EIDL Grants
- Payroll Considerations of Covid-19 Legislation
- Tax-Related Provisions for Businesses
FOR INDIVIDUALS
- Recovery Rebate for Individuals
- Waivers Related to Retirement Plans & Funds
- Charitable Deductions
- Required Minimum Distributions (RMD)s Waived for 2020
- Employer Student Loan Repayment Exclusion
As every business situation is different, it’s important to be sure you are applying for the correct loan(s). For more information please reach out to your Lutz representative or call us at 866.577.0780.
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