The CARES Act of 2020: Taxation Provisions May Provide Some Relief for Your Business

The Coronavirus Aid, Relief, and Economic Security Act of 2020 (CARES Act), enacted and expected to be signed into force on March 27, 2020, is bipartisan legislation intended to provide more than US$2 trillion in relief for companies and families affected by the coronavirus disease 2019 (COVID-19) pandemic. It includes a number of taxation-related provisions that are targeted at minimizing the impact on companies of a suddenly and significantly scaled-back economy.