Paycheck Protection Program
What every small business needs to know and how to start preparing
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by COVID-19. We have summarized the top provisions in the new legislation below, with more detailed alerts on individual provisions to follow.
The Families First Coronavirus Response Act (FFCRA) was signed into law on Wednesday March 18, 2020. The new law includes paid sick leave for employees impacted by COVID-19 and those serving as caregivers for individuals with COVID-19. The legal obligations will be effective 15 days from the date it was signed – so plan for it to take effective on April 2.