The CARES Act

The President signed the Coronavirus Aid, Relief, and Economic Recovery Security (CARES) Act into law on March 27th. The new law authorizes $2 trillion in emergency stimulus funding in response to the COVID-19 pandemic. The law includes many provisions, but here is a list of the items that are most likely to impact you.

 

  • Recovery rebates for families under specified income limits

  • Penalty-free early withdrawals from qualified retirement accounts

  • Suspension of 2019 required minimum distributions

  • Expansion of charitable tax deductions

  • Deferment of student loan payments

  • Loosened unemployment eligibility

 

Contact our team to learn more about how you may benefit from the CARES Act.

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