The CARES Act is a $2.2 trillion fiscal policy response to help American citizens and businesses struggling with the severe impact from the coronavirus pandemic. The law created several important programs to help provide liquidity to small and midsize businesses to cover payroll or other business expenses. Each program carries its own set of restrictions based on employment size and other variables. The intention of the new law is to help businesses operating on Main Street, and in some cases that might include some family offices and their portfolio companies.
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Given the far-reaching business impacts of measures already taken to control the spread of the COVID-19 virus, many companies are looking to their insurance policies for potential responses to the ongoing financial loss. This guide provides an overview of some key coverage, claims, and risk management areas that are currently top of mind for businesses and insurers.
The COVID-19 crisis continues to disrupt everyday life. In response, the CARES Act of 2020 was signed into law in the U.S. to provide some relief. A summary of the key provisions in the CARES Act for individuals include delayed due dates for tax returns, enhanced charitable contributions, no required minimum distributions from IRAs and retirement plans, one-time payments from the federal government, deferred tax payments, and other programs for businesses.
The COVID-19 pandemic has caused unprecedented hardships on small businesses, nonprofits, and other entities. They are experiencing unexpected decreases in cash flow due to the “shelter-in-place” orders enacted by many municipalities. The U.S. Small Business Administration (SBA) has worked to provide Economic Injury Disaster Loan assistance to eligible organizations to help ease the effects through fhe Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
The novel coronavirus disease 2019 (COVID-19) and the response to this pandemic have created an unprecedented, fast-moving, and challenging environment. Join guest Chris Schumann and host Damien Martin for the first episode of a three-part series focused on helping you respond responsibly to COVID-19. They share practical advice and key action steps businesses and their owners can take to confront the unexpected business challenges of the current situation. Here’s what’s covered:
Due to the SARS-CoV-2 virus (COVID-19), Washington recently enacted legislation providing various relief measures. In this second episode of a three-part, COVID-19 Response Series, guest Ryan Peterson and host Damien Martin discuss the payroll-related provisions provided under this new relief. They cover items of common confusion, identify areas needing additional guidance, and explain what these newly enacted provisions may mean for you and your business.
As of the week of April 6, there continue to be diverse opinions among leaders within the United States on which policies and procedures will provide both a safe environment for employees and allow productivity to return to levels that are closer to those generated before the COVID-19 crisis. This Executive Summary provides an overview of the initial patterns to the way in which most organizations are examining their Back to Work policy and procedural choices.
On March 27, 2020 the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the Act) was enacted into law. The Act provides relief to individuals, small businesses, and others impacted by the ongoing Coronavirus emergency. This summary offers an overview of certain relief provided to individuals by the ACT, including direct payments to taxpayers, retirement plans, qualified plan loans, and expanded unemployment compensation.
In time of crisis, it’s crucial to keep your focus and priorities straight, while ensuring all stakeholders are informed. Consider the following as you steer your family and business through unchartered territory.
The CARES Act was signed into law on March 27, 2020. The Act provides relief to individuals and families in the form of direct payments, relaxed restrictions on retirement accounts and new guidelines on cash donations to public charities.