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Update: Summary of CARES Act and FFCRA Tax Credit and Payroll Tax Relief

Authors: Rebecca Alperin, Lisa B. Petkun, Lynda M. Crouse, Mamta K. Shah, Callan G. Stein, Emily D. Zimmer, Constance Brewster and Christopher Stock

5/21/2020
Update: Summary of CARES Act and FFCRA Tax Credit and Payroll Tax Relief

The payroll and tax credit programs under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and the Families First Coronavirus Response Act (FFCRA) involve highly complex eligibility and technical requirements. Businesses are advised to carefully consider the eligibility requirements, limitations and potential value of each program to determine which relief is the most beneficial. 

Troutman Sanders Employee Benefits & Executive Compensation attorneys have joined forces with our future colleagues at Pepper Hamilton to put together this updated summary of the various payroll and tax credit programs under the CARES Act and FFRCA to assist you in evaluating your options.

If you have any questions or require assistance with determining which relief is best for the unique circumstances of your business, please contact any member of the Troutman Sanders or Pepper Hamilton Employee Benefits and Executive Compensation Practice Groups or the COVID-19 Response Team. We are here to help you in any way that we can.

The material in this publication was created as of the date set forth above and is based on laws, court decisions, administrative rulings and congressional materials that existed at that time, and should not be construed as legal advice or legal opinions on specific facts. The information in this publication is not intended to create, and the transmission and receipt of it does not constitute, a lawyer-client relationship.

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