GCK On Law

Overview of COVID-19 Employer Tax Credits

Several notable tax credits have been created for employers in response to COVID-19. The tax credits are designed to provide employers with immediate access to cash they would otherwise allocate to pay taxes. In follow-up to the credits for qualifying paid leave...

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CARES Act Summary

On Friday, March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (“Cares Act”). The Cares Act is the largest and most expensive emergency relief package in history. The Cares Act allocates $2 trillion in an effort to...

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CARES Act – Paycheck Protection Program

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or “Act”) was signed into law. One of the most impactful provisions of the CARES Act is the creation of the Paycheck Protection Program (the “Program”), a new, 100%...

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Illinois and Chicago Tax and Financial Assistance

Since the first coronavirus case was announced in Illinois on January 24, 2020, Governor Pritzker and Mayor Lightfoot have taken a number of preventive measures in an effort to suppress the spread of the virus and ease the hardship on Illinois and Chicagoland...

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