The CARES Act contains provisions that encourage charitable giving, including a new above-the-line deduction of up to $300 for charitable contributions by non-itemizing individuals in 2020.
COVID-19 Resource Center
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The release by the SBA of the PPP forgiveness form for borrowers brought significant changes to the interpretation of some of the components of forgiveness.
The U.S. Small Business Administration and The U.S. Department of the Treasury have released the
Paycheck Protection Program (PPP) Loan Forgiveness Application and detailed instructions.
IRS grants employees the ability to make midyear changes to some employer-sponsored health coverage, health flexible spending arrangements (FSAs), and dependent care assistance programs.
The SBA and Treasury have announced that borrowers with an original principal amount less than $2 million “will be deemed to have made the required certification concerning the necessity of the loan request in good faith.”
The CARES Act suspended the 2020 RMD requirement for defined contribution plans . What are the options for required minimum distributions taken before the CARES Act was enacted?
Congress passed the Paycheck Protection Program and Health Care Enhancement Act, providing an additional $484 billion of coronavirus relief.