As part of the United States response to the coronavirus pandemic, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted on 27 March 2020. The Act represents one of the most significant economic aid packages enacted in the country, with support for both businesses and individuals.
A number of measures in this bill are aimed at supporting individual taxpayers in managing the financial impact as employees across the United States and across industries face unprecedented challenges.
Of the measures announced to support individuals, the rebate of up to $1,200 per individual, is likely to have the greatest impact for internationally mobile employees and businesses managing employees working overseas on assignment -- both employees who have moved overseas from the United States. and those who have moved to the country.
An overview of the rebate and considerations for employees on assignment to the United States is available from our US member firm website.