On March 27, 2020 the President signed The Coronavirus, Aid, Relief and Economic Security Act (CARES Act). The CARES Act includes many tax provisions that are intended to put cash flow in the hands of individuals and businesses.
The CICPAC Tax Thought Leadership Committee has compiled a summary of those changes potentially impacting our construction clients for consideration. In the interest of timing, this document only provides an overview for further consideration for planning in 2020 and beyond.
There will be a follow-up next week to this summary with more in‐depth guidance and practical application materials as we work through implementation of the new regulations and as additional information becomes available.
We hope you find the 2020 Tax Planning Opportunities for the Construction Industry helpful.
