On March 27, President Trump enacted the CARES Act. The historic stimulus bill includes an allowance for penalty-free early withdrawals from retirement accounts.
On Friday, April 24, President Trump signed the Paycheck Protection Program (PPP) and Health Care Enhancement Act into law. The new aid bill is boosting resources for various initiatives in response to the coronavirus pandemic
The CARES Act contains a number of provisions impacting businesses. This chart is meant to highlight the tax modifications and provide some potential planning ideas.
The Internal Revenue Service (IRS) released Notice 2020-23, announcing their extension of many additional key tax deadlines for both businesses and individuals.