NEWS YOU SHOULD KNOW
Changes to Health Care Spending and Charitable Giving Available Under CARES Act
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), is a bill passed by the U.S. federal government on March 27, 2020. The purpose of the act is to address certain issues pertaining to the Coronavirus and the U.S. economy.
The CARES Act has a number of provisions ranging from extending certain tax payment deadlines to revising payment rates for durable medical equipment under the medicare program. The Act also includes provisions related to charitable giving, although some of those provisions specifically exclude contributions to donor-advised funds.