In Light of the devastating Coronavirus and its lasting effect leaving millions without jobs and closed businesses, CARES Act acronym for Coronavirus Aid Relief and Economic Security Act a bipartisan bill was signed into law on March 27, 2020.
What does it mean? – The CARES Act provides fast and direct economic assistance for workers, families, and small businesses preserving jobs across industries.
How does it affect me? – The CARES Act provides monetary assistance to many categories of workers including 1099 contactors, there is also monetary assistance and provisions for small business impacted to protect payroll and other resources to keep businesses afloat, preserving jobs. The Act also allows provisions to assist State and Local governments. Check out the US Department of Treasury link for more detailed information home.treasury.gov/policy-issues/cares.