Congress enacted three bills in three weeks – the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020, the Families First Coronavirus Response Act (FFCRA), and the Coronavirus Aid, Relief and Economic Security Act (CARES Act) – designed to address the public health emergency caused by the spread of COVID-19.
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The city of Chicago is establishing a $100 million Chicago Small Business Resiliency Fund.
Illinois businesses outside of Chicago are eligible for the Illinois Small Business Emergency Loan Fund.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is currently going through Congress, the information below comes from the version passed by the Senate. It has not yet been voted on by the House of Representatives. Discussions are still ongoing.
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This post, current as of March 27, 2020 at 8:30 a.m. (CDT), identifies the states where “stay at home” orders are effective or pending. We will update the list regularly but expect it will become outdated quickly as new announcements are made.
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On March 26, the U.S. Department of Labor (DOL) released additional FAQs that further explain employer and employee rights and responsibilities under the federal Families First Coronavirus Response Act (FFCRA).
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States are providing tax filing relief for individuals and businesses.This relief in payments or tax return filings varies by state, and more state announcements may be made in the coming days/weeks. To that end, the American Institute of CPAs (AICPA) has created a state-by-state chart of tax filing guidance for the coronavirus pandemic.
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