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Hurdles, Questions Mark One Year of Landmark Covid Relief Law

April 5, 2021, 8:45 AM

CPAs and small businesses are still vying for some of the most generous provisions in the CARES Act, one year after the sweeping pandemic aid law’s enactment.

Though confusion continues as the $2.3 trillion package (Public Law 116-136) threw major responsibilities at the Small Business Administration and IRS nearly overnight. Those agencies had to quickly adapt to carrying out the pillars of the law, which means that businesses are still trying to navigate the changes and wait for guidance to understand what perks they might be able to claim.

The SBA, typically charged with delivering small-dollar loans,...

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