CARES Act is signed into law
March 27, 2020 COVID-19
CARES Act is signed into law

On March 27, 2020, President Trump signed into law H.R. 748, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act” or the “Act”). Below is an overview of some of the key provisions. We will continue to monitor all provisions in the Act and update this post as needed. Small Business Administration (“SBA”) Loans Small […]

Employee leave under the Families First Coronavirus Response Act
March 27, 2020 COVID-19
Employee leave under the Families First Coronavirus Response Act

Congress passed and the president signed into law the Families First Coronavirus Response Act on March 18. The law allows employees time to care for themselves or loved ones and includes provisions for new tax credits to offset employers’ costs. But the immediate need to pay employees on leave may still be difficult for organizations struggling […]

What COVID-19 legislation means for nonprofits and their staffers
March 25, 2020 COVID-19
What COVID-19 legislation means for nonprofits and their staffers

Whether your not-for-profit is newly deluged with demand for services or you’ve closed doors temporarily, it’s important to keep up with legislation responding to the coronavirus (COVID-19) crisis. On March 18, the Families First Coronavirus Response Act was signed into law to provide American workers affected by the pandemic with extended sick and family leave […]

Individuals get coronavirus (COVID-19) tax and other relief
March 25, 2020 COVID-19
Individuals get coronavirus (COVID-19) tax and other relief

Taxpayers now have more time to file their tax returns and pay any tax owed because of the coronavirus (COVID-19) pandemic. The Treasury Department and IRS announced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer making federal income tax payments, […]

SBA offering loans to small businesses hit hard by COVID-19
March 24, 2020 COVID-19
SBA offering loans to small businesses hit hard by COVID-19

Every company has faced unprecedented challenges in adjusting to life following the widespread outbreak of the coronavirus (COVID-19). Small businesses face particular difficulties in that, by definition, their resources — human, capital and otherwise — are limited. If this describes your company, one place you can look to for some assistance is the Small Business […]

Fraudsters are using COVID-19 to swindle Americans
March 23, 2020 COVID-19
Fraudsters are using COVID-19 to swindle Americans

As governments around the globe mobilize to defend their populations from the novel coronavirus (COVID-19), criminals are also mobilizing — to defraud people. These opportunists have already found ways to use the fear and chaos associated with the pandemic to enrich themselves. But you can protect yourself and your business. Ripe opportunity Phishing emails that […]

FILING DEADLINE EXTENDED TO JULY 15
March 21, 2020 COVID-19
FILING DEADLINE EXTENDED TO JULY 15

Late yesterday, the IRS issued a new Notice that changes the previous payment relief and provides new filing relief for taxpayers. Now: For any person (defined as an individual, trust, estate, partnership, association, company or corporation) with a Federal income tax payment or a Federal income tax return due April 15, 2020, the due date […]

Coronavirus may affect financial reporting
March 13, 2020 COVID-19
Coronavirus may affect financial reporting

The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. But you also may be worried about how it will affect your business and its financial statements for 2019 and beyond. Close up on financial reporting The duration and full effects of the COVID-19 outbreak are yet unknown, but […]