As the outbreak of the coronavirus (COVID-19) continues to plague the United States, on March 27, 2020, the U.S. House of Representatives passed the previously approved U.S. Senate version of the much anticipated Coronavirus Aid, Relief and Economic Security Act (CARES Act), providing a needed $2 trillion in relief to the U.S. economy that is teetering on the border of a recession. The CARES Act is the largest of its kind in U.S. history and will provide $500 billion to distressed companies, $350 billion in small business loans and $250 billion in direct payments to individuals and families.<\/p>\n
This\u00a0Alert<\/i>\u00a0serves as a brief overview of a few of the important provisions of the CARES Act and IRS Notice 2020-18 that will have a significant impact on private equity funds and their portfolio companies moving forward.<\/p>\n
To read the full text of this Duane Morris Alert<\/em>, please visit the firm website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" As the outbreak of the coronavirus (COVID-19) continues to plague the United States, on March 27, 2020, the U.S. House of Representatives passed the previously approved U.S. Senate version of the much anticipated Coronavirus Aid, Relief and Economic Security Act (CARES Act), providing a needed $2 trillion in relief to the U.S. economy that is … <\/p>\n