(513) 858-6040
Secure File Upload
Pay
Client Center
CARES Act Tax Provisions
Mar 30, 2020
On Friday, March 27, 2020, the Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law. The Act includes numerous provisions that provide tax relief as a result of the Coronavirus epidemic.
The Business Tax Provisions include:
- Employee retention credit for employers reducing operations due to COVID-19
- Delay of payment of employer payroll taxes
- NOLs arising in tax years 2018, 2019, or 2020 to be carried back 5 years
- Modification of Excess Business Loss (EBL) rules
- Temporary modification of business interest deduction limitation
- Technical amendment regarding qualified improvement property
The Individual Tax Provisions include:
- Individual tax credit/rebate
- Retirement Plan Provisions for distributions
- Changes to charitable contributions
- Student Loan Provisions
Learn more about how these new provisions will impact you:
CARES-Act-Tax-Provisions-Summary
More Resources
About The Author
As a highly energetic business leader and entrepreneur, John has a passion for helping businesses and nonprofits reach…
Accounting & Financial News
10 Ways Cloud Computing Can Benefit Manufacturers
The quest for skilled laborers As the end of the first quarter of the 21st century nears, cloud computing has…
GAAP vs. Tax-Basis Accounting: What’s Right for Your Company?
Does your business need to prepare financial statements that conform to U.S. Generally Accepted Accounting Principles (GAAP)?…
How Construction Businesses Can Better Manage Their Money
For construction businesses, financial management is notoriously complex. Contractors have to deal with the ebbs and flows…
