Employee Retention Credit | CARES Act
April 5, 2020 COVID-19
Employee Retention Credit | CARES Act

Two recent pieces of legislation aim to address the economic hardship that employers may be facing due to COVID-19. The Families First Coronavirus Relief Act (FFCRA), enacted on March 18, 2020, requires certain employers to pay sick or family leave wages to employees who are unable to work or telework due to certain circumstances related […]

CARES Act offers new hope for cash-strapped nonprofits
April 3, 2020 COVID-19
CARES Act offers new hope for cash-strapped nonprofits

On March 27, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. How is this massive $2 trillion recovery package poised to help your not-for-profit organization? It depends on your group’s size, financial condition and other factors. But most nonprofits affected by the coronavirus (COVID-19) outbreak are eligible for some relief under […]

Cash payments and tax relief for individuals in new law
April 3, 2020 COVID-19
Cash payments and tax relief for individuals in new law

The CARES Act, signed by President Trump on March 27, provides a variety of tax and financial relief measures to help Americans during the coronavirus (COVID-19) pandemic. Below we explain some of the tax relief available for individuals in this new law. Individual cash payments Under the new law, an eligible individual will receive a […]

How COVID-19 poses new fraud threats to vulnerable businesses
April 3, 2020 COVID-19
How COVID-19 poses new fraud threats to vulnerable businesses

Scam artists know how anxious business owners are during the current coronavirus (COVID-19) crisis. They know that as you struggle to meet customer demands, pay employees and stay solvent, you’re more likely to drop your guard and fall for a fraud scheme. The last thing your business needs right now is to suffer additional financial […]

Paycheck Protection Program  |  CARES Act
April 2, 2020 COVID-19
Paycheck Protection Program | CARES Act

4/28/2020 Update: President Trump signed into law a new relief package, COVID 3.5, that includes an additional $320 billion in funding for the Paycheck Protection Program, $60 billion of which is reserved for community banks and small lenders. Learn more about COVID 3.5.   The Treasury Department recently released the application form for small businesses […]

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

4/28/2020 Update: A new $484 billion relief package, COVID 3.5, includes an additional $75 billion for hospitals, $25 billion to support testing efforts, $60 billion for emergency disaster loans and grants, and $320 billion in funding for the Paycheck Protection Program (which was established in the CARES Act) – $60 billion of which is reserved […]

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 […]