Congress Battles COVID-19 Crisis with Tax Relief Provisions in Major Stimulus Bills
As our country grapples with the health, economic, and social impacts of COVID-19, the US Congress has weaponized the US tax law to provide economic stimulus and soften the financial blow dealt by COVID-19 through two key pieces of legislation.
The first, is H.R. 6201, the Families First Coronavirus Response Act, or the “Families First Act” (signed into law on March 18). The second, is H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act, or the “CARES Act” (signed into law on March 27).
Both the Families First Act and the CARES Act include tax provisions intended to assist businesses and individuals facing financial hardship due to COVID-19. This analysis highlights the major tax relief provisions in the two pieces of legislation.
Read the Full Analysis Here
Contacts
- Related Practices