U.S. Department of the Treasury

The CARES Act offers meaningful financial support to American businesses and job creators so they can better support employees and be prepared to get back to business as soon as possible.

Employee Retention Credit

Employers of all sizes that face closure orders or suffer economic hardship due to COVID-19 are incentivized to keep employees on the payroll through a 50% credit on up to $10,000 of wages paid or incurred from March 13, 2020 through December 31, 2020.

FAQ: Employee Retention Credit

Additional Tax Credits

The IRS is issuing tax credits in order to give small and mid-sized businesses the resources they need to cover the cost of providing paid sick and family leave wages.

Payroll Tax Deferral

To enhance cash flow so that businesses can better maintain operations and payroll, employers and self-employed individuals can defer payment of the employer share of the Social Security tax they otherwise are responsible for paying to the federal government with respect to their employees. The deferred employment tax can be paid over the next two years—with half of the required amount to be paid by December 31, 2021 and the other half by December 31, 2022.

Payroll Support

Treasury has published the resources to assist some eligible businesses in applying for payroll support to enable the continued payment of employee wages, salaries, and benefits, and for loans pursuant to the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

A list of Payroll Support Program participants, with amounts of assistance provided and, where applicable, financial instruments provided to the Federal Government as appropriate compensation for the provision of financial assistance, is available online.

Application Procedures

• FAQ: Application Procedures for Payroll Support to Air Carriers and Contractors (4/3/20)

Program Information

• Guidelines and Application Procedures for Payroll Support to Air Carriers and Contractors (3/30/20)
• FAQ: Payroll Support to Air Carriers and Contractors Under Division A, Title IV, Subtitle B of the CARES Act (4/2/20)
• FAQ Update: Payroll Support to Air Carriers and Contractors (4/3/20)
• FAQ Update: Payroll Support to Air Carriers and Contractors (4/20/20)
• FAQ Update: Payroll Support to Air Carriers and Contractors (7/14/20)
• Form of Payroll Support Program Agreement

Compliance

Frequently Asked Questions (updated 6/30/2020)

Creating a Certified Digital Identity (7/9/2020)

Data Collection Template Guidance (7/19/2020)

Loan Program

Treasury has published resources for making loans to provide liquidity to eligible businesses related to losses incurred as a result of coronavirus.

A list of loan program participants along with transaction summaries and documentation is available online.

Program Information

• Procedures and Minimum Requirements for Loans to Air Carriers and Eligible Businesses and National Security Businesses under Division A, Title IV, Subtitle A of the CARES Act (3/30/20)
• FAQ: Loans to Air Carriers and Eligible Businesses and National Security Businesses (4/10/20)
• FAQ Update: Loans to Air Carriers and Eligible Businesses (7/15/20)

Related Press Releases

• Treasury Announces Payroll Support to Aid Employees of Small Passenger Air Carriers (4/10/20)
• Statement by Secretary Mnuchin on the Payroll Support Program (4/14/20)
• Treasury Finalizes Agreements with Major Airlines, Disburses Initial Payroll Support Program Payments (4/20/20)
• Update on Treasury Implementation of the Payroll Support Program for the Aviation Industry (5/12/2020)

*Please Note: Effective 11:00 a.m., April 3, 2020 only applications completed online will be accepted. For best site performance, it is recommended you use Chrome 80.0+, Firefox 74.0+ or Safari 13.1+. The online application form is compatible with Internet Explorer 10 or newer. If you need technical support to complete your online application, please contact caresITforms@treasury.gov to request assistance.