COVID-19 “CARES act” UPDATE

The COVID-19 outbreak has tossed most of what was expected for 2020 into the trash heap. The US Congress is working on a package to help business and individuals cope with the disruptions.

The staff at the Small Association Leadership Alliance (SALA) have summarized the massive bill so that you can get a baseline understanding of the provisions in the bill which could affect or help you and your business. We thank SALA for allowing ACCT to link to this document.

It is important to remember that as of March 26, 2020 the CARES Act has only passed the US Senate and is scheduled to be voted on by the House of Representatives on Friday March 27, 2020. After the bill is signed, ACCT will provide additional information.