Tax Alert

The CARES Act Passes in the House

The House of Representatives has overwhelmingly approved the more than $2.2 trillion CARES Act package and is sending it to the President for signature. The legislation appears to be unchanged from the package that was approved by the Senate this week. We will review the legislation over the coming days and update you of any significant changes to the information provided in our Tax Briefing yesterday.

Property Taxes are Still Due 4/10/20

Be sure to pay your California property taxes, no extension has been granted at this time.

SBA Makes It Easier to Apply for Disaster Loans

It appears the SBA has streamlined the application process for the Economic Injury Disaster Loan assistance program. Over the past 24 hours, the SBA updated their website to indicate that only the 2 forms (Form 5 or 5C and P-019) requested need to be filed immediately and that all remaining forms may be requested at a later date by the processor.

Check out our new COVID-19 Resource Page on our website for the latest announcements and information.

This post is for informational purposes only and not actual professional tax and/or accounting advice.  Before making any decision or taking any action, you should consult with a professional advisor about your specific situation. As we all know, information is changing rapidly and we will update you as we become aware of any changes.

Please contact your engagement shareholder or manager directly if you have any questions.