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