COVID-19 CARES Act and Tax Update

General Information

April 5, 2020

On Friday March 27, 2020, President Donald Trump signed the largest economic relief package in U.S. history. The Coronavirus Aid, Relief, and Economic Security Act, or CARES Act, responds to the coronavirus pandemic, by providing about $2 trillion to individuals, businesses and state and local governments. These provisions range from individual rebates, to small business loans and wide variety of other tax breaks designed to lessen the impact that the COVID-19 pandemic will have on the economy. In addition, there are several other administrative and legislative actions which are directed towards COVID-19 relief such as the Families First Coronavirus Response Act, IRS Notices and California orders.

We have summarized some of the more pertinent provisions that we expect to impact our clients below. Please reach out to your GPW tax professional if you have questions regarding how these provisions could best benefit you. Or email your questions to and we’ll get back to you as soon as possible.

Here are the pages within this section. Click the links to access them.