COVID-19: The CARES Act business relief questions, answered

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04/16/20

To help navigate uncertain times, hear PwC discuss the CARES Act and the liquidity programs it aims to provide companies.
 

You’ve heard about the CARES Act - but do you know the business provisions and areas of focus that companies are most interested in? This podcast is the next episode in a series that addresses questions received surrounding the impacts of COVID-19 and related legislation on your financial statements. Heather Horn is joined by PwC’s Suzanne Roske, Rohit Kumar, and Michael O’Brien to discuss the business opportunities of the CARES Act.

Topics include:

  • 1:16 - Background. We begin with an overview of the three-phased congressional action, and then give a view into the CARES Act and other remedies that the government is employing. 

  • 3:59 - Tax implications. What are some of the tax provisions in the CARES Act? Rohit discusses recovery rebates, loan facilities, unemployment insurance, and more.   

  • 8:55 - Loan programs.  How can companies take advantage of the variety of available loan programs? Suzanne outlines three buckets of focus for companies. 

  • 22:05 - Accessing the right relief. There are effective moves to ensure you’re accessing the relief programs that make the most sense for your company. Here we discuss the importance of scenario planning and compliance considerations. 

  • 30:15 - What’s next? We wrap up with thoughts on what listeners may see next coming from Congress.

About our guests

Suzanne Roske is a Partner in PwC’s Government Contracts Practice. With over 18 years experience, Suzanne provides expert advice to commercial companies and non-profit organizations that do business with the US Government. She specializes in assisting clients in the areas of business consulting, strategic initiatives, transaction services, and regulatory compliance actions.

Rohit Kumar is Principal and Leader of the PwC Tax Policy Services practice. In his role, Rohit advises clients on all aspects of domestic policy including tax policy. His insights and knowledge enable companies to assess critical policy issues more effectively and develop legislative strategies to address those issues from both a technical and political perspective. Prior to joining PwC, Mr. Kumar served as the Domestic Policy Director and Deputy Chief of Staff in the Office of Senate Republican Leader Mitch McConnell.

Michael O'Brien is a Managing Director in the Office of Government, Regulatory Affairs & Public Policy. In his current role, Michael represents the firm and its interests before Congress, the Executive Branch, and Federal regulatory agencies. He has represented the firm on matters related to the implementation of Sarbanes-Oxley and Dodd-Frank, state and federal taxation, , and litigation reform.

About our host

Heather Horn is PwC's National office thought leader, responsible for developing our communications strategy and conveying firm positions on accounting and financial reporting matters. She is the engaging host of PwC’s accounting and reporting weekly podcast and quarterly webcast series, as well as periodic webcasts for the power and utilities industry. With over 25 years of experience, Heather’s accounting and auditing expertise includes financial instruments and rate-regulated accounting.

Contact us

Heather Horn

Heather Horn

US Strategic Thought Leader, National Professional Services Group, PwC US

David Schmid

David Schmid

International Accounting Leader, National Professional Services Group, PwC US

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