April 1, 2020

In response to the developing Coronavirus global pandemic, Congress has officially passed (and President Trump signed into law) the Coronavirus Aid, Relief, & Economic Security (CARES) Act.  This $2 trillion emergency fiscal stimulus package is intended to help ease the ongoing impact of the virus on the economy. Some of the key points of the legislation include the following:


  • Temporary Waiver of Required Minimum Distributions (RMDs) in 2020
  • Cash Stimulus Refunds for Taxpayers
  • Allowance for a $300 Above-the-Line Charitable Deduction
  • Student Loan Payments Deferred Until September 30th, 2020


Please take a moment to read more about the changes within the attached commentary titled “COVID-19 legislation for tax and economic relief”.