The nearly 5,600-page coronavirus stimulus legislation that has passed Congress has a myriad of provisions both big and small that financial advisors should be knowledgeable about for their clients, according Jeffrey Levine, a financial advisor industry thought leader.

The $900 billion bill includes direct payments to individuals, but changes are likely because President Trump has called the legislation a disaster and has refused to sign it.

Levine said advisors have their work cut out for them to comprehend a voluminous bill that could make differences in income calculations, tax bills and business loans for their clients.

Levine addressed advisors during a webinar Wednesday conducted by he and partner, Michael Kitces, dubbed “Coronavirus Stimulus Legislation: What Advisors Should Know about the Latest Stimulus Bill.” Kitces is head of planning strategy at Buckingham Strategic Wealth. His website, Kitces.com, includes the influential column “Nerd’s Eye View.” Levine is “lead financial planning nerd” at Kitces.com and director of advanced planning at Buckingham Strategic Wealth.

The bill passed by Congress provides $600 per person, including children, in direct payments for those making less than $75,000 a year, which is a variation on the $1,200 per adult and $500 per child provided last spring.

The bill also includes round two of the Paycheck Protection Program of forgivable loans. Levine said advisors should tell their business-owner clients to apply for the loans as quickly as possible to avoid being shut out if money runs out. Some of the provisions of the loans—including lowering the number of employees a business owner has to have on payroll in order to qualify, and the way business losses are calculated—have changed. And the application process has been greatly simplified, Levine said. In addition, some exceptions have been included to enable more restaurants and more new businesses to qualify.

The provisions for calculating charitable donations have been changed and should be scrutinized by advisors so the changes do not end up costing clients money. “Everyone wants to pay less in taxes. If you can save a client $50 in taxes, he will think you are great,” Levine said.

Advisors also need to be aware of the changes in allowable medical deductions and the new regulations for health savings accounts, he added.

Elsewhere in the bill, federal unemployment benefits will be boosted by $300 a month. While that may not seem like a significant amount, it can be meaningful for people who lost their job this year, Levine said. He added that advisors need to remind clients that unemployment benefits are taxed, so they may face a larger-than-anticipated tax bill.

The delay in the requirement to take required minimum distributions from qualified accounts that was part of the original stimulus package was not included in the current one.

These provisions are only a few examples of issues covered in the webinar and, in turn, the webinar covered only some of the provisions contained in the thousands of pages of the bill. More information is available at Kitces.com. The website will be updated as necessary if the bill changes before it becomes law, Kitces said.