Blog
COVID-19: Employee Retention Tax Credit
The coronavirus (COVID-19) pandemic has shut down many sectors of the U.S. economy, causing widespread job losses. Over 10 million Americans applied for unemployment benefits in March, according to the U.S. Department of Labor. And far more claims are expected in...
COVID-19: State Unemployment Guidance and Actions
During the unprecedented challenges that the coronavirus (COVID-19) pandemic has imposed on workers and employers, states have been announcing changes to unemployment insurance (UI) benefits. Here are some of the actions: Alabama. The Alabama Department of Labor...
401k Options: Keep Calm But Know Your Options
The coronavirus (COVID-10) pandemic has had adverse effects on many industries. Both employers and employees are seeking ways to respond to financial stress resulting from the economic slowdown and financial market volatility. If your company's revenue has...
COVID-19 Relief: An Overview of the New CARES Act
The Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law on March 27, 2020. In addition to giving people access to health care treatments, the new law will provide roughly $2 trillion in much-needed financial relief to individuals,...
Paycheck Protection Program
Updated April 8th, 2020 Many banks have opened their online portals for application and many small businesses have already responded. We've included a list of frequently asked questions, updated as more guidance becomes available, below. In the meantime, here are...
Stimulus Check Overview
Updated April 10, 2020 The CARES Act includes stimulus payments of $1,200 for each individual and $500 for each dependent child, defined by the child tax credit rules as under age 17. Who and How Much? Individuals with adjusted gross income (AGI) up to $75,000 a...
Additional IRS Updates Regarding Federal Tax Filings
As you may have heard, the IRS has announced special federal income tax return filing and payment relief in response to the ongoing coronavirus (COVID-19) pandemic. Installment Agreements, Offers in Compromise, Audits and More The IRS announced a series of steps to...
Managing COVID-19 Related Business Risks
The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain and...
Federal Tax Relief Aimed to Alleviate COVID-19 Hardships
Updated March 26, 2020 The coronavirus (COVID-19) pandemic has already had widespread effects on the U.S. economy. Demand for many goods and services has stalled. Unemployment claims have skyrocketed. And many schools and businesses are operating online — if at...