TAX DEADLINE EXTENDED
As tweeted by Treasury Secretary Steve Mnuchin "At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties."
Income tax payments were extended... and now filing tax returns (1040, 1120 and few other odd-duck ones) have been extended. We are still unclear about IRA contributions, quarterly estimated tax payments, payroll filings, etc.
The Families First Coronavirus Response Act (
) was signed into law by the President and becomes effective April 2,2020. To get your feet wet, we have attached nice concise highlights from our insurer Vista National. Mechanics, exemptions, applications and details of how this Act will be implemented are still being developed.
SBA DISASTER LOANS
Could an SBA Disaster loan help your business through this challenging period? Borrowers apply directly to the SBA. If approved, this loan would be funded directly by the SBA. No banks are involved with this process.
WHAT TO DO
We are collecting ideas on maneuvers to consider, to keep your business pumping through this crisis. Please shoot us an email firstname.lastname@example.org with what you are doing so that we can share it.
STAY SAFE & HEALTHY!