In response to the Coronavirus pandemic, President Trump signed the Families First Coronavirus Relief Act (FFCRA) on March 18, 2020, and the Coronavirus Aid, Relief and Economic Security Act (CARES Act) on March 27, 2020. As of April 23, 2020, Congress had voted to appropriate additional funding for some of the loan programs created by the CARES Act.
The CARES Act and FFCRA create several new and interrelated programs aimed at helping employers and employees affected by the COVID-19 pandemic.
To help employers better understand these new federal assistance programs and requirements, and some of the other federal programs that may be able to help employers during these challenging times, we prepared the federal program comparison chart below. This chart is intended to help employers understand some of the key federal assistance options available to them through the following programs:
Click image to download the PDF.
If you are a TriNet customer and would like more information about how TriNet can help you with any of these CARES Act and FFCRA programs, please contact your TriNet Customer Experience contact.
Federal guidance on how these new programs work is being issued on an almost daily basis and new programs may be created in the future. We are monitoring these developments and will try and update this chart as necessary, but keep in mind that this chart may not always reflect the latest updates. This chart should not serve as a substitute for the professional advice employers should obtain on their specific situation from their legal, tax and accounting advisors.
Visit the TriNet COVID-19 Preparedness Center for critical and up-to-date information as well as the impact of changing regulations on small and medium-size businesses. We will continue to monitor the COVID-19 situation and provide updates as necessary.
This communication is for informational purposes only; it is not legal, tax or accounting advice; and is not an offer to sell, buy or procure insurance.
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