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!
• $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