The historic stimulus package was passed by the U.S. Senate (on March 25), the House of Representatives (on March 27), and signed into law by the President (on March 27). The $2 trillion Coronavirus Aid, Relief and Economic Security Act (CARES Act) contains many significant tax-saving provisions that impact both individuals and businesses and which may affect prior tax years while working to create needed cash flow during the crisis.
Join Marcum’s Tax & Business Services leaders for an in-depth webinar discussing the stimulus provisions and how they may benefit you.
- Cash Payments
- Retirement Fund Rules
- Charitable Contributions
- Employer Payment of Student Loans Education Assistance Program
- Employee Retention Credit for Employers Subject to Closure due to COVID-19
- Deferral of Payroll Taxes for Employers and Self-Employed Individuals
- Relaxed Net Operating Loss (NOL) Rules
- Limitation of Individuals’ Use of Business Losses
- Corporate Alternate Minimum Tax Credit Refund
- Business Interest Limitation under IRC section 163(j)
- Bonus Depreciation Allowed on Qualified Improvement Property (QIP)
- Excise Tax Exemption
- Expansion of the SBA’s Business Loan Program and Disaster Loan Program and Loan Forgiveness
Joseph Perry, National Tax Leader
John Bonk – Director, Tax Services
Michael D’Addio – Principal, Tax Services
Andrew E. Finkle – Partner, Advisory Services
Martin Martinez – Partner, Tax Services
Marcum is committed to sharing the best information available concerning the Coronavirus (COVID-19) with our clients, friends and colleagues during this crisis. Visit the Marcum Coronavirus Resource Center for frequent updates.