April 2, 2020
Dear Friend,

We have some important updates for Social Security recipients and small businesses. Here's the latest today:

  • The Treasury Department and the Internal Revenue Service have announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact PaymentInstead, payments will be automatically deposited into their bank accounts. 

  • The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, identical to how they currently receive their benefits.

  • This Friday, small businesses and sole proprietorships will be able to apply for the Paycheck Protection Program, a provision of the CARES Act (the coronavirus relief package passed by Congress and signed into law last week) that provides small businesses with funds to pay up to 8 weeks of payroll costs including benefits. Funds can also be used to pay interest on mortgages, rent, and utilities. The funds are provided in the form of loans that will be fully forgiven when used for payroll costs, interest on mortgages, rent, and utilities. Small businesses can apply through any federally insured depository institution, federally insured credit union, and Farm Credit System institution that is participating. Here are some resources for small business owners: 

  • Individuals with medical experience can volunteer to help by visiting this site to register.  Already, more than 19,000 North Carolina residents have volunteered.

  • For businesses that want to help by switching their manufacturing processes to construct medical equipment, they can start the application process by sending an email to nbeoc@max.com.

  • The National Library Service for the Blind and Disabled is offering free audiobooks to veterans. Learn more here.

For today's "good news" stories, I want to highlight the folks that have decorated New Hanover Regional Medical Center's hallways with supportive messages for our health care workers on the front line of combating the crisis. There's also Cape Fear Distillery, part of Cape Fear Vineyard and Winery in Elizabethtown, which is now producing hand sanitizer  These are just a few of the stories of North Carolinians pitching in and coming together to defeat the outbreak.

As always, stay tuned to  Coronavirus.gov  and  NC's Department of Health and Human Services  website for the latest on the outbreak. 

David Rouzer

1121 N. Lake Park Blvd.
Carolina Beach, NC 28428