The US Senate’s Coronavirus Aid, Relief, and Economic Security Act or CARES Act (S.3548) provides emergency loans, tax credits, grants and more to address the economic impact of the pandemic. In addition to the law itself, government agencies have released guidance and instructions to help citizens take advantage of the aid provided.

Tax credits related to CARES Act
IRS offers FAQs on the Employee Retention Credit, “designed to encourage Eligible Employers to keep employees on their payroll, despite experiencing economic hardship related to COVID-19.” Learn more. Note that employers may not use the same wages to count for both the FFCRA refundable tax credit and the CARES Act employee retention credit. 

The CARES Act also addresses issues of unemployment related to COVID-19. DOL has issued guidance on operating, financial, and reporting instructions with official letters:

• Unemployment Insurance Program Letter No. 15-20, which provides states with operating, financial, and reporting instructions for the Federal Pandemic Unemployment Compensation (FPUC) Program, which was authorized via the CARES Act of 2020
• Unemployment insurance program letter No. 16-20, which operating, financial, and reporting instructions for the Pandemic Unemployment Assistance (PUA) program.
• Unemployment insurance program letter No. 14-20, which provides a summary of key unemployment insurance provisions and guidance regarding temporary emergency state staffing flexibility provisions.

Additional resources:

Colorado employers guide to unemployment insurance during the COVID-19 pandemic

US Chamber of Commerce guide to CARES Act

Small business owner’s guide to the CARES Act from US Senate Committee on Small Business & Entrepreneurship