Congress Passes CARES Act - What You Need To Know Webinar

03/30/2020

Congress Passes the Coronavirus Aid, Relief, and Economic Security Act

Topics to be Addressed:

1. Labor & Employment Considerations

a. Families First Coronavirus Response Act Paid Leave Review

b. CARES Act Unemployment Compensation Programs (businesses and nonprofits)

c. Reimbursement of Leave Costs from Employment Taxes

2. Loans/Grants/Guarantees

a. Other loan facilities not established by Coronavirus-related legislation

b. (1) SBA Economic Injury Disaster Loan (EIDL) Grant/Advance (Sec. 1110)

c. (2) Paycheck Protection Loan Program (Forgiveness) (Sec. 1102)

d. (3) Economic Stabilization Fund

i. (3)(A)4003(b)(4) Loan Program

ii. (3)(B) Mid-Sized Businesses (Sec. 4003(c)(3)(D)

iii. (3)(C) Loan Programs for Specific Industries (Sec. 4003(b)(1)-(3))

3. Individual Relief

a. Refundable Advance Paid Tax Credit

b. Federal Student Loan Suspension

c. IRA Withdrawals

d. Plan Participant Loans

e. Required Minimum Distributions

4. Tax Matters

a. FICA Credit

b. Employer FICA Deferral

c. Net Operating Losses

d. AMT

e. Business Interest Expense

f. Qualified Improvement Property

g. Charitable contribution

Professionals