Major Provisions of the Families First Coronavirus Response Act FFRCA Analysis Webinar - ACI - March 24, 2020 - FI - Page 13

CARES ACT - PENDING AT THE TIME OF THIS PUBLICATION THE CARES ACT IS PENDING! MAJOR PROVISIONS: • $350 billion allocated for Small Business Interruption Loans Forgiven if business does not lay off employees – or - forgiveness is scaled down – or - still qualify if re-hire by April 1, 2020. • Recovery rebate for individual taxpayers Amounts and phase ins-outs TBD • $300 above-the-line charitable contribution • Waives 10% early withdrawal penalty on retirement distributions 13