This past Friday, April 3rd, 2020 our federal government rolled out its much anticipated Paycheck Protection Program (PPP). The program was designed, as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES), to loan money to small businesses who have been greatly affected financially by the COVID-19 pandemic. Small businesses would use the […]
On Friday March 27th, 2020 the President signed into law the Coronavirus Aid, Relief and Economic Security (“CARES”) Act which provides Americans with various economic resources during these challenging times. One of the main objectives of the Act is to keep Americans paid and employed. The Payroll Protection Program (“PPP”) allocates $349 billion to support […]
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide their employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.[1] The Department of Labor’s (Department) Wage and Hour Division (WHD) administers and enforces the new law’s paid leave requirements. These provisions will apply from the effective […]
Filing and payment deadlines deferred. After briefly offering limited relief, the IRS almost immediately pivoted to a policy that provides the following to all taxpayers-meaning all individuals, trusts, estates, partnerships, associations, companies or corporations regardless of whether or how much they are affected by COVID-19: For a taxpayer with a Federal income tax return or […]