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

Businesses need to pay attention to NOLs more than ever

Understanding the myriad of Net Operating Loss rules and regulations is increasing important, especially in a distressed economy.

  • September 20, 2021

Key CARES Act and SECURE Act updates for employers

New legislation and impacts from the coronavirus relief bill and SECURE Act for employers: RSM dives into practical advice for plan sponsors

  • May 26, 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.

  • May 18, 2021

IRS updates Higher Education Emergency Grant FAQs

Expanded FAQs further clarify that institutions do not report grant funds paid to students, and students do not include amounts in income.

  • March 31, 2021

CARES Act relief and the impact to government contractors

Learn how CARES Act relief can affect current and future awards and timing considerations for government contractors.

  • March 12, 2021
Have a specific question? Contact us for additional perspective and recommendations.

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