CARES Act Signed into Law

President Trump has signed into law the historic $2 trillion stimulus package named the Coronavirus Aid, Relief and Economic Security (CARES) Act. The Act aims to aid the American public and economy as we fight the devastating spread of COVID-19. The legislation is the largest emergency aid package in U.S. history and will provide immediate cash to most U.S. employers and citizens. Please see read our previous article discussing the Act’s tax and financial provisions. We will be publishing comprehensive articles on these provisions in the upcoming weeks.

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About the Author(s)

Ben is a Principal in the Tax Advisory Group (TAG) of HBK and works in the Youngstown, OH office. He has been with the firm since 2009 and has focused extensively on entity tax issues, entity planning, and flow-through taxation. Additionally, he has experience with many of our real estate, manufacturing, and cannabis clients.

As a member of TAG, Ben frequently teaches tax-related training courses both internally for the firm and externally for clients and the public. Ben provides research and expert counsel on complex tax issues for our clients. He also regularly appeared on the mid-day news broadcast of Youngstown, Ohio's NBC affiliate station in a segment called “Smart Money” which highlights personal financial planning tips.

Hill, Barth & King LLC has prepared this material for informational purposes only. Any tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or under any state or local tax law or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein. Please do not hesitate to contact us if you have any questions regarding the matter.