The Coronavirus Aid, Relief, and Economic Security Act or CARES Act impacts many individuals and businesses. This wide-ranging Act also affects employee benefit plans. Here are some of the important provisions business owners need to consider:
Every business owner who offers employee benefit plans to their staff members should consult with their advisor to ensure they are well-positioned for these CARES Act provisions and their plan document is properly amended for these changes. Contact a member of your DGC client service team or Linda McLean, CPA at 781-937-5322 / firstname.lastname@example.org or Donald Butler, CPA, CISA at 781-937-5137 / email@example.com if you have specific questions. You can also visit our coronavirus web page at dgccpa.com/coronavirus which is frequently updated with new articles and checklists to help you deal with the impact of the coronavirus on you and your business.
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