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The Coronavirus Aid, Relief and Recovery Act

Dear Valued Investor,

I hope this note finds you and those around you safe and healthy during this unprecedented time. You may be aware at the end of March, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act and it is now law. This is the third piece of legislation that Congress has passed to help Americans deal with the economic impacts of the coronavirus outbreak.

This historic and sweeping legislation was created to help keep workers paid and employed, allows businesses to remain operational and makes necessary health care system enhancements to stabilize the economy. We want to make sure you are aware of certain provisions designed to help you.

  • Retirement Assistance – Retirement plan withdrawals for COVID-19 affected individuals, access to plan loans, waiver of RMDs for 2020 and allowance for plan amendments
  • Individual Assistance – 2020 tax recovery rebates for incomes up to $99,000 for singles and $198,000 for married couples
  • Small Business Assistance – Paycheck protection program, loan assistance, loan forgiveness, employee retention credit and tax benefits

Click here for a one page overview of these key provisions and FAQs related to each of the key highlights.

We’re here for you via phone or email (richard.nash@lpl.com)and look forward to discussing the CARES Act or answering any other questions to help you with your financial needs.

Please feel free to contact me at 253-838-3212 any time.

The content provided herein is based on our interpretation of the CARES Act and is not intended to be legal advice or provide a tax opinion. This document is a summary only and not meant to represent all provisions within the CARES Act.

Sincerely,

Richard D. Nash
Chartered Retirement Planning Counselor (CRPC)
CRPC conferred by the College for Financial Planning