Paycheck Protection Program
The Paycheck Protection Protection program is part of the emergency stimulus passed by Congress under the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).
Employee Retention Credit
The Employee Retention Credit part of the Coronavirus Coronavirus Aid, Relief and Economic Security (CARES) Act aims to help businesses
Economic Injury Disaster Loans
The Small Business Administration’s Economic Injury Disaster Loans (EDIL) is a federal-sponsored financial assistance that offers working capital loans up to $2 million.
Deferral of Employer Payroll Tax Payments
The CARES Act does allow taxpayers to defer paying the employer portion of the social security taxes through the end of 2020.
Carryback for Net Operating Losses and Taxable Income Offset
The CARES Act brings in changes to the Net Operating Loss (NOL) rules for businesses.
Business Interest Expense Deduction
The CARES Act does allow businesses to increase the existing Adjusted Taxable Income (ATI) limit from 30% to 50%, thus allowing a greater amount of business interest
Families First Coronavirus Response Act
FFCRA was signed by President Trump on March 18. This new law goes into effect on April 1, 2020, and it will remain in effect until December 31, 2020.