CARES Act Update

Monday, March 30, 2020

LLI hopes that you and your loved ones are safe and healthy during this unprecedented time.  We have been doing our best to get information out to everyone in a timely manner.  On Friday, March 27th, the Small Business Interruption Loan Under the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was passed to help taxpayers.  There are many provisions to analyze and many questions to answer.  We have spent the weekend reading the new law, listening to webinars and consulting with other professionals.

Many of you have emailed, texted and called us with questions and requests for information.  At this time, we ask that you please be patient with our office as this new law is taking time to understand completely.  In addition, our own staff is working remotely due to this crisis.  In most cases, our priorities have shifted from tax preparation to dealing with the stimulus acts.  We promise that we will respond to everyone’s questions and requests as quickly as possible.  This is a highly specialized area that needs analysis on a client-by-client basis, which takes time to accomplish.

Thank you for your cooperation during this difficult period.

LLI Advisory Group provides this information as a service to clients and other friends for informational purposes only. It should not be construed or relied on as legal or tax advice.

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