Coronavirus Aid, Relief and Economic Security (CARES) Act Summary: Reviewing the Effects on Individuals and Families

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This course is approved for 2.0 credit hours of continuing education credit for the CERTIFIED FINANCIAL PLANNERâ„¢ designation.

On March 21st, Congress passed a record breaking stimulus bill, the CARES Act. The $2 Trillion economic package was designed to provide relief to millions of Americans in the form of recovery rebates, the expansion of unemployment benefits, changes to retirement plans, support for small businesses and provisions related to mortgages and student loans. Phase 3.5 of relief passed on April 21 and added another $484 billion in relief to replenish the small business rescue program known as the Paycheck Protection Program (PPP). The CARES Act targets aid to four key areas: U.S. households, small businesses, state/local governments and larger businesses and financial markets. This course reviews the various phases of legislative responses to COVID-19 and the tax and financial planning implications of these updates for individuals and families.