On March 27, the House passed by voice vote, and the President signed, a third Coronavirus relief package, the Coronavirus Aid, Relief, and Economic Security Act. The Senate had previously passed the Act on March 25 by unanimous vote. The bill contains many tax related provisions. INDIVIDUAL PROVISIONS An eligible individual is allowed an income […]
Employee Retention Credit for Employers
Under the newly passed Coronavirus Aid, Relief, and Economic Security Act (CARES Act), additional payroll tax credits and tax payment deferrals are included to improve cash flow and employee retention. Employers, including nonprofits, whose operations have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings, or […]
Federal COVID-19 Resources
Coronavirus and Forbearance Info for Students, Borrowers, and Parents April 6, 2020 We at the U.S. Department of Education (ED) office of Federal Student Aid are actively monitoring the new coronavirus/COVID-19 outbreak. On March 27, 2020, the president signed the CARES Act into law, which, among other things, provides broad relief for federal student loan borrowers. READ […]
April 15th Due Date for Returns & Payments Postponed to July 15, 2020
The due date for filing Federal income tax returns and making Federal income tax payments due April 15, 2020, has been postponed to July 15, 2020. Taxpayers do not have to file any forms for the extension. There is no limitation on the amount of the payment that may be postponed. This relief is available […]
EFMLA and COVID-19
If your employees are being affected by the coronavirus and are not able to work due to self-quarantine, caring for an at-risk family member who is self-isolating, or caring for their children due to school or childcare closures, you might be required to pay them under Expanded Family Medical Leave or Emergency Paid Sick Leave […]
