The Joint Committee on Taxation (JCT) today issued a report describing the tax law changes in the recently enacted Coronavirus, Aid, Relief and Economic Security Act (CARES) Act (P.L. 119-136). 

The 111-page report is especially important because the bill was assembled and approved by both chambers with little debate and no legislative history from the tax-writing committees. For each tax provision, it includes a description of the law prior to enactment, a description of the change and the effective date. 

"Unless otherwise noted, the description of present law with respect to each provision describes the law in effect immediately before enactment of the provision and does not reflect changes to the law made by the enacting legislation or by subsequent legislation," the JCT explains.

​The text of the JCT report is posted here.

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