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The CARES Act and Your Taxes

As you may have heard the Coronavirus Aid, Relief, and Economic Security Act (commonly known as the CARES Act) was signed into law on March 27, 2020. The CARES Act will provide some necessary relief to America’s families and businesses as we all manage the COVID-19 health crisis and economic turmoil. In addition, the CARES Act has given extended time for the filing and payment of income taxes and has changed some other important dates.

Payroll Protection Program (PPP)

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone.

Special Scam Alert: Virus Victimization

Scammers and hackers love taking advantage of new events, and the ongoing COVID-19 (coronavirus) story is no exception. Authorities are warning consumers to be skeptical of emails and websites promoting coronavirus prevention products and tips, according to the Better Business Bureau. These rapidly spreading scams, like others that capitalize on natural disasters and the like, typically promise something too good to be true and insist that you “Act Now.” Don't!

Preserving Your Mental Health

The challenges we face today are unique and significant. The Coronavirus has unleashed uncertainty, economic pain and shelter-in-place for much of the population. Any one of those alone can impact our mental health; the combination of all three can wreak havoc on us.