United States

Coronavirus-related relief packages

An overview of resources available to businesses through legislation

RESOURCE CENTER

The federal government has passed several pieces of legislation to provide aid to businesses navigating the coronavirus pandemic. These packages include the Coronavirus Aid, Relief and Economic Security Act, which went into effect in spring 2020, and the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act, which Congress passed in December 2020 as part of the Consolidated Appropriations Act, 2021.

Eligibility for resources under each of these programs varies based on business size and other criteria, and there are important tax implications that business leaders should understand if they seek aid through these options.

Find information below on what these aid packages mean for midsize businesses.


The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act


The CARES ACT


MOST RECENT CORONAVIRUS RELIEF INSIGHTS

Employee Retention Credit: Answers to frequently asked questions

The Employee Retention Credit provides liquidity benefits for many businesses and was significantly expanded for 2020 and 2021.

  • February 25, 2021

Enhanced charitable deductions extended for individuals through 2021

Stimulus legislation extends through 2021 the 100% of AGI deduction for itemizers and availability of a deduction for non-itemizers.

  • February 24, 2021

Colorado restores certain business deductions related to the CARES Act

Colorado enacts law restoring certain deductions related the to the CARES Act for both business and individual taxpayers.

  • February 23, 2021

What plan sponsors need to do now for the SECURE and CARES Acts

Plan sponsor actions to incorporate the provisions of the SECURE and CARES Acts into their plan documents and plan administration.

  • January 20, 2021

PPP forgiveness and expenses: State tax implications

States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.

  • January 15, 2021
Have a specific question? Contact us for additional perspective and recommendations.

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