Tax Related Relief Items in Coronavirus Aid, Relief, and Economic Security Act
After days of furious negotiations between Republicans and Democrats on the Hill and Trump Administration officials, the Coronavirus Aid, Relief, and Economic Security Act passed. With a $2.2 trillion price tag, the Act is the most expensive piece of legislation ever passed.
Individual Tax Relief
- Recovery Rebates
- Retirement Plans
- Charitable Contributions
- Student Loans Paid by Employers
Business Tax Relief
- Employee Retention Credit
- Payroll Tax Deferral
- Net Operating Losses
- Minimum Tax Credits
- Business Interest Expense Limitation
- Qualified Improvement Property
- Excise Tax Relief
The CARES Act is a massive act, there are some additional smaller, but no less significant, provisions within the act, click here to read brief.
We will continue to monitor and keep you updated as additional information and guidance is released. If you have any questions or concerns, please contact us at 517.323.7500.