The CARES Act provides loans (including forgivable loans), tax and employment benefits for businesses, and unemployment, qualified plan and tax-related benefits for individuals, in each case to alleviate the economic difficulties businesses and individuals are currently facing due to the recent COVID-19 outbreak. This article provides a high-level summary of the key provisions of the CARES Act that may be helpful for small and mid-size trade contractors, and their personnel, as they navigate the COVID-19 crisis.
