Tax Implications of the CARES Act
On March 27, President Trump signed into law the Coronavirus Aid, Relief and Economic Security Act, known as the CARES Act. The product of a swift bipartisan effort, the CARES Act is designed to provide economic relief for businesses and individuals impacted by the ongoing COVID-19 crisis. This webinar reviews the main features of the CARES Act, including its tax implications.
Participants walked through the new rules under the CARES Act, learned what benefits were now available for corporations, and identified what corporations should consider with the changes in NOL, AMT, and QIP rules and how these changes might affect prior tax periods
This communication is intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.