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Coronavirus U.S. Legislation Overview

Laws, rulings and guidelines issued by Washington D.C. and 50 state governments will provide critical help to our industry as well as generating new requirements to access these new benefits. As new information becomes available, we will both combine our financial and legal expertise to bring you a single source of actionable information on the first two major laws – The CARES Act and the FFCRA Act and the myriad of rulings that will be issued by the IRS, the Department of Labor, the SBA and dozens of other institutions that will impact our business lives throughout 2020.

Please keep in mind, we are not functioning as your attorney, tax advisor or banker. We are functioning as a team with decades of staffing industry experience, with deep relationships with industry resources like ASA and SIA and with access to respected financial institutions.

Look to these blog posts to deliver topline news and links to key websites that provide the details you, your banker, your tax consultants and your attorney need to be aware of to take full advantage of the recovery assets deployed by the government.

Coronavirus U.S. Legislation Overview

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Prior to that, the Families First Coronavirus Response Act (FFCRA) became law on March 18, 2020.

Congress passed these two coronavirus emergency aid packages to provide liquidity into the marketplace, direct assistance to businesses and workers, and paid leave benefits to many small business employees.

These two new laws contain both financial opportunities for businesses and potentially burdensome requirements.  For immediate liquidity help, the Paycheck Protection Program and the delay of payment of employer taxes appear to be the most applicable to most businesses. Please download and read the details and see what you may need to do. As the SBA finalizes the process for the Paycheck Protection Program loans over the coming days.

Dig into this guide, understand the benefits and the rules as we help you to leverage these unique governmental programs to support your businesses and your teams.