Ultimately, the key point is that the CARES Act is a historic emergency relief program for Americans and provides much-needed assistance for those affected by the pandemic and the resulting economic damage. And with changes in tax laws come planning opportunities for clients. However,...
The government’s mortgage bailout program ispart of the CARES Act, a relief package passed by Congress on March 27 to help Americans who are struggling with loans that are backed by Fannie Mae, Freddie Mac, the FHA, VA or the USDA, which make up about three-quarters of the mortgage ma...
A brief overview of the Act follows, with certain key provisions highlighted. Please contact the Reed Smith attorneys listed below for more information about the Act’s provisions, your eligibility for assistance pursuant to the Act, and how we can help you navigate the legal and policy impacts...
Overall, mortgage relief mitigated the risk of foreclosure, suggesting that the Act had blunted the effects of housing disadvantage. The effects were greater for non-Hispanic Black borrowers who experienced higher rates of foreclosure prior to the COVID-19 pandemic. On balance, the Act helped ...
According to the CARES Act, in order for a small company to qualify for assistance under the Small Business Act (SBA) programs included in the economic stimulus, it must have fewer than 500 employees. However, even if a small company has fewer than 500 employees, if it has a majority own...
assistance to many businesses that may not meet the customary small business thresholds. Given the various qualification criteria, the programs and incentives enacted under the CARES Act must be evaluated separately for each business, considering industry, legal requirements and financial and other ...
The Assistance for Mid-Sized Businesses program will be for businesses (and, to the extent practicable, nonprofit organizations) with 500 to 10,000 employees that satisfy certain requirements. The program provides financing for banks and other lenders to make direct loans to eligible borrowers subject...
landlords using the“declaration” at the bottom of this CDC form. You must prove that you are unable to pay rent because of Covid-19 and that you “used best efforts” to apply for other types of governmental housing aid, includinglocal emergency assistance programs available in your s...
The Families First Coronavirus Response Act, enacted last week, added COVID-19 testing to section 1396d, which provides medical assistance payments under certain conditions. The CARES Act amends this section by removing the requirement that the in-vitro diagnostic products administered are approved, ...
Additional programs are available in August for preventing homelessness, rental and utility assistance and mortgage assistance. Four Simple Ways to Feel More Grateful Fill Your Life With Happy People ThinkStock Fill Your Life With Happy People ...