CARES Act Provides Tax Relief for Individuals and Businesses

Ivins, Phillips & Barker has partnered with accounting firm Mazars to produce this alert on the CARES Act, signed by President Trump on March 27. The CARES Act is “Phase III” of the government’s response to the COVID-19 crisis, with an estimated cost in excess of $2 trillion. The Act provides economic stimulus for individuals and businesses adversely impacted by the pandemic and includes measures to support states and the country’s healthcare system, and authorizes a $500 billion loan program for adversely impacted businesses. Also contained within the CARES Act are a number of tax relief measures for individuals and businesses.

Please see our COVID-19 Resources page for additional client alerts and information.