Federal package provides assistance to REALTORS® and small business

Today, the federal government has approved a massive economic assistance package to deal with the consequences of the coronavirus outbreak.

REALTORS®, whose business activities are limited by the Governor’s “Stay at Home” order, should review the relief available to them through the federal government, including:

  • SBA loans;
  • Unemployment eligibility for independent contractors;
  • Mortgage forbearance;
  • Cash rebates subject to income limits;
  • IRA early withdrawal penalty waiver; and
  • Numerous small business tax allowances. The government previously extended the federal tax filing deadline to July 15.

“I have been extremely encouraged by my conversations with our REALTOR® leaders this week. They have been working non-stop in DC to make a difference for us,” said SKCR President Georgia Stevens. “I am proud that both the Washington REALTORS® and the National Association of REALTORS® have acted quickly and continue to advocate on behalf of our members during this difficult time.”

The National Association of REALTORS® has provided the following summary of provisions that affect real estate and small business.

Provisions for REALTORS® & their Consumers

You can also view the PDF version of the provisions here:

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