$484B Paycheck Protection Program and Health Care Enhancement Act Signed Today
We are ending the week on a better note than last. The House passed the Paycheck Protection Program and Health Care Enhancement Act, and President Trump signed the bill earlier today which will add $484B to help small businesses, hospitals and first responders, as well as increase nationwide testing for coronavirus.
With news that States are reopening businesses, and more funding for relief programs, we want to remind everyone of available programs through the IRS regarding Coronavirus tax relief for businesses and tax-exempt entities.
For a summary of tax relief available click here.
Employee Retention Credit, click here.
Coronavirus-Related Paid Leave for Workers and Tax Credits for Small- and Mid-Size Businesses, click here.
Frequently asked questions about carrybacks of NOLs for taxpayers who have had Section 965 inclusions, click here.
We will continue to navigate these uncertain times and stay abreast of news that we believe is relevant for you and your business.
DISCLAIMER: The WM Daily Update COVID-19, COVID-19 Business Resources and COVID-19 Client News Alerts and other related communications are intended to provide general information on legislative COVID-19 relief measures as of the date of this communication and may reference information from reputable sources. Although our firm has made every reasonable effort to ensure that the information provided is accurate, we make no warranties, expressed or implied, on the information provided. As legislative efforts are still ongoing, we expect that there may be additional guidance and clarification from regulators that may modify some of the provisions in this communication. Some of those modifications may be significant. As such, be aware that this is not a comprehensive analysis of the subject matter covered and is not intended to provide specific recommendations to you or your business with respect to the matters addressed.
