Corona Virus Relief (CARES ACT)
Today we’re talking all about the Corona Virus Relief (The Cares Act)
Tax and loan issues summary article from Forbes:
https://www.forbes.com/sites/anthonynitti/2020/03/25/congress-reaches-agreement-on-a-coronavirus-relief-package-tax-aspects-of-the-cares-act/#3d3a762f5f99
Other issues article from Forbes:
https://www.forbes.com/sites/kellyphillipserb/2020/03/25/senate-passes-coronavirus-stimulus-bill-house-expected-to-follow-suit/#29cd2bb94475
Here is an article on how Enhanced Unemployment Benefits will work: https://www.americanactionforum.org/insight/enhanced-unemployment-benefits-in-the-coronavirus-aid-relief-and-economic-security-cares-act/
More detailed information on the Paycheck Protection Program:
https://bench.co/blog/operations/paycheck-protection-program/
Text of Bill (Scroll down in the link)
https://www.congress.gov/bill/116th-congress/house-bill/748/text
SBA rules for PPP loans (4/4/2020)
https://www.sba.gov/sites/default/files/2020-04/PPP–IFRN%20FINAL_0.pdf
Filing Deadline Updates, IRS and California FTB
Filing Deadline Updates, IRS and California FTB. The IRS has set up a “Coronavirus Tax Relief” page on their website. We expect, as additional information becomes available and formal guidance is issued, it will be accessible on that webpage. Federal and state tax authorities have responded to the Coronavirus by announcing extensions of some tax…
Assessing the Impact of the Coronavirus on Your Business and Staff
Impact of Coronavirus on your Business In a press conference on March 11, the World Health Organization (WHO) Director-General Tedros Adhanom Ghebreyesus announced that the outbreak of the coronavirus (COVID-19) can be characterized as an official pandemic, with the risk of further global spread. As the WHO and the Centers for Disease Control and Prevention (CDC) continue to…
How to Support Your People through Compassion, Compliance and Accountability
People First How can you support your people through compassion, compliance and accountability? As organizations continue to navigate the ever-changing landscape this pandemic presents, it is important to stay aware of the impact on employees due to illness, reduced hours, or loss of unemployment. Employees are facing increased emotions, heightened anxiety, fear, added stress from…
COVID‐19 virus Message from Managing Partner Alan Olsen
COVID‐19 virus Message from Managing Partner Alan Olsen March 17, 2020 Dear Clients and Friends, Greenstein, Rogoff, Olsen & Co., LLP (GROCO) CPAs & Advisors remains committed to serving our clients. We hope this email finds you and your family well and in good health. If the COVID‐19 virus is affecting you or a loved…