Heads Up — Highlights of the CARES Act

Published on: 18 Sep 2020

This Heads Up discusses key aspects of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides $2.2 trillion of economy-wide financial stimulus in the form of financial aid to individuals, businesses, nonprofits, states, and municipalities. The Heads Up focuses on provisions of the CARES Act related to financial instruments, income taxes, and accounting models for government assistance.

Originally issued on 9 April 2020, this Heads Up has been updated several times to reflect recent developments related to the CARES Act. The 18 September 2020 updates add disclosure considerations related to the effects of the COVID-19 pandemic and certain provisions of the CARES Act on an entity’s financial reporting.


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