|
|
 Re: أمريكا تفتح خزائنها لدافعي الضرائب و غيره (Re: امتثال عبدالله)
|
The Coronavirus Aid, Relief, and Economic Security Act (H.R. 748),[1] also known as the CARES Act,[2] is a law meant to address the economic fallout of the 2020 coronavirus pandemic in the United States. In its original form, it was introduced in the United States Senate by Majority Leader Mitch McConnell (R-KY)[3], although the bill was heavily amended before it was passed.
The original bill included $500 billion in direct payments to Americans,[2] "$208 billion in loans for major industries that have been impacted by the coronavirus", and "$300 billion for small businesses".[3] As a result of bipartisan negotiations, the bill grew to $2 trillion in the version unanimously passed by the Senate on March 25, 2020.[4][5] The next day, it was passed in the House via voice vote and signed into law by President Donald Trump.
Unprecedented in size and scope,[4] the legislation was the largest-ever economic stimulus package in U.S. history,[6] amounting to 10% of total U.S. gross domestic product.[7] The bill was much larger than the $831 billion stimulus act passed in 2009 as part of the response to the Great Recession.[7]
The bill is referred to by lawmakers as "Phase 3" of Congress's coronavirus response.[8][9] The first phase "was an $8.3 billion bill spurring coronavirus vaccine research and development" (the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020), which was signed into law on March 6, 2020. The second phase was "an approximately $104 billion package largely focused on paid sick leave and unemployment benefits for workers and families" (the Families First Coronavirus Response Act), which was signed into law on March 18, 2020.[8]
The Act contains the following provisions.[36]
Allocates up to $500 billion for assistance to eligible businesses, states, and municipalities, with not more than $25 billion designated for passenger air carriers, not more than $4 billion for air cargo carriers, and not more than $17 billion for businesses critical to maintaining national security.[37][38]
Creates a $349 billion loan program, called the Paycheck Protection Program (PPP), for small businesses with funds available for loans originated from February 15 through June 30, 2020.[37][39]
Allocates $130 billion in relief to the medical and hospital industries.[37]
Provides credits against the 2020 personal income tax for eligible individuals who are neither nonresident aliens nor claimed as dependents by another taxpayer.
$1,200 to each individual or $2,400 to each married couple filing jointly, and
$500 for each dependent who is a qualifying child under age 17 as of December 31, 2020.
The credits are reduced, but not below zero, by each five percent of so much of the taxpayers' adjusted gross income as exceeds $150,000 for a joint return; $112,500 for a head of household; or $75,000 for other taxpayers.[37][40]
Expands eligibility for unemployment insurance and provides people with an additional $600 per week on top of the unemployment amount determined by each state.[37][41] Gig workers and freelancers are covered by unemployment insurance for the first time.[42]
Expands telehealth services in Medicare.[37][37][43]
Provides the Secretary of the Treasury with the authority to make loans or loan guarantees to states, municipalities, and eligible businesses.[37][44]
Provides a refundable employee retention tax credit for employers whose operations were suspended due to COVID-19 or whose revenue has significantly decreased due to COVID-19.
Allows employers to defer payment of the employers' share of social security tax for up to two years. Payment of the portion of self-employment tax corresponding to the employer's share of social security tax may also be deferred for up to two years.
Allows individuals who take the standard deduction to take a tax credit for up to $300 of charitable contributions per year, effective January 1, 2020.
Increases the limit for most tax-deductible charitable contributions from 50% to 100% of adjusted gross income for individuals and from 10% to 25% for corporations. Increases the limit for tax-deductions for charitable contributions of food inventory.
Payments of student loan principal and interest of by an employer to either an employee or a lender is not taxable to the employee if paid between March 27, 2020, and December 31, 2020. The maximum amount that is tax-free is $5,250 per employee.[45]
Suspends required minimum distributions for 2020.
Increases the maximum amount of a loan from an employer-sponsored retirement plan from $50,000 to $100,000 and from 50% of vested assets to 100% of vested assets.
Delays the 80% limitation on net operating losses from 2018 to 2021. Allows net operating losses from 2018, 2019, and 2020 to be carried back to up to five years. Delays the $500,000 limitation on deductible net operating losses until 2021.
When a consumer affected by COVID-19 requests and receives flexibility with their payment obligations from a creditor, the creditor is required to report to credit bureaus that the consumer is in compliance with their payment obligations.[46]
Legislative history
From Wikipedia, the free encyclopedia
|
|
  
|
|
|
|
سيف اليزل برعي البدوي
فيس بوك
تويتر
انستقرام
يوتيوب
بنتيريست