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As I’m sure you know, the $2 trillion “Coronavirus Aid, Relief, and Economic Security” (“CARES”) Act was recently signed into law. The CARES Act is designed to help those most impacted by the COVID-19 pandemic, while also providing key provisions that may benefit retirees.[i]
To put this monumental legislation in perspective, Congress earmarked $800 billion for the Economic Stimulus Act of 2008 during the financial crisis.1
The CARES Act has far-reaching implications for many. Here are the most important provisions to keep in mind:
Many businesses and individuals within our community are struggling with the new realities that COVID-19 has created. The CARES Act, however, may provide some much-needed relief for our neighbors, friends, and loved ones.
If you’d like to chat about how the CARES Act impacts you or to see if these special 2020 distribution rules are appropriate for your situation, give us a call or email.
[i] CNBC.com, March 25, 2020.
[ii] The Wall Street Journal, March 25, 2020.
[iii] The Wall Street Journal, March 25, 2020.
[iv] The Wall Street Journal, March 25, 2020.