The Coronavirus Aid, Relief, and Economic Assistance Security Act (“CARES Act”), signed into law on March 27, 2020, provides significant relief provisions for small businesses by making changes to certain tax provisions enacted under the 2017 Tax Cuts and Jobs Act (“TCJA”). This client alert briefly summarizes these changes which may provide relief to businesses immediately, prospectively and retroactively. In addition, we will share some insights on the practical applications of these rules to help you identify which may be relevant to your business.

• Net Operating ...