I think it is safe to say that, in our lifetime, we have never seen anything quite like this before. The Coronavirus has created anxiety as the health and safety of our loved ones weigh heavily on our minds, along with uncertainty in the economy. We all hope for a swift return to normalcy.
As we navigate this challenge, we continue to devote our time and resources in helping our clients navigate through all of the federal and state legislation that our lawmakers have enacted to provide relief to both the businesses and individuals impacted by the COVID-19 crisis. Last Friday, President Trump signed into law, the Coronavirus Aid, Relief, and Economic Security (CARES) Act. This legislation is the largest economic stimulus package ever enacted.
Like all significant legislation, there are significant details and complexities. I am very proud of our team in their commitment to understand this legislation and how it affects our clients. They have been terrific in sharing their expertise with clients and providing swift guidance to help them and their businesses through this economic hardship. We will continue to monitor all the guidance surrounding this complex legislation. And, like all significant legislation that comes together quickly and covers a broad range, there will be a need for updates and clarity as further clarification is provided. In the coming days, we will continue to share the important elements and details to help you and your businesses get the most economic relief under this law. We will also remain active with our communications, providing our clients and the business community with thought leadership and timely information to help educate you.
We wish you, your families, and colleagues, good health and that you remain in our thoughts.
The above represents our best understanding and interpretation of the material covered as of the date of this post. Things are moving at a rapid pace, and as such, information is subject to change. This information is provided for informational purposes only and is not intended to be a substitute for obtaining accounting, tax, or financial advice from an accountant.