In the face of economic damage from the COVID-19 pandemic, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) into law on March 27, 2020. This comprehensive legislative relief package is designed to help stabilize fragile industries and to provide tax credits and loans to businesses to help them retain their workforce. This package also includes options employers may want to consider, from payroll tax deferral to write-offs for paying down employee student debt. As an employer, you may be able to take advantage of the provisions listed under the CARES Act to help ease some of the losses caused by the coronavirus pandemic.
One of our vendor partners, American Fidelity Assurance Company, has shared with us a summary of the benefits available under the CARES Act. Visit their website to read more.