There are a lot of provisions rolled into H.R. 748 – otherwise known as the CARES Act. Plus, Congress continues to clarify the many details involved. In an April 20th Grand Rapids Business Journal column, Anastasia Wiese, JD, CFP® offered an overview of the Act, and its primary sources of relief aimed at helping individuals and businesses affected by the coronavirus.
Some of the provisions are broad-based. For example, Economic Impact Payments from the IRS, unemployment compensation, and incentives for charitable giving are aimed at assisting nearly every American while keeping the overall economy afloat.
Other parts of the Act target specific groups hit hardest by the economic fallout from the coronavirus. These include relief intended for small business owners, retirees, and students.
To learn more, you can read Anastasia’s article here.