The Cares Act (Act) and Its Impact on Individual Taxpayers and Small Businesses
The Act authorizes $2.1 trillion in aid to reduce the economic impact of the Covid-19 pandemic. This legislation provides relief for individuals and businesses that have been negatively impacted by the COVID-19 outbreak. The Act* includes the following key provisions: Individual Taxpayer Provisions: Direct Payments: Individual taxpayers receive a one-time payment of up to $1,200,...
