Information About the CARES Act

Did You Take Your 2020 RMD Too Soon?

As part of the CARES Act, the requirement for older taxpayers to take required minimum distributions (RMDs) from their retirement plans has been waived for 2020. This is primarily due to the drop in value for most investments as a result of the economic effects of COVID-19. RMDs are required distributions from qualified retirement plans

Apply for Special Perks if you got Jobless by COVID-19

The CARES Act includes Pandemic Unemployment Assistance (PUA) provisions that extend and supplement state-provided unemployment insurance and are intended to lessen the financial burdens on individuals who have lost their jobs because of the COVID-19 emergency by allowing states to extend unemployment benefits up to 13 weeks and waiving the normal one-week waiting period. The

CARES Act FAQ: Employee Retention Credit

On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes a wide range of business tax provisions, including a new credit for employers that retain their employees. Below, we address some of the common questions regarding this particular initiative. If you cannot find

CARES Act FAQ: Retirement Plan Withdrawals

On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes an allowance for penalty-free early withdrawals from retirement accounts. Below, we address some of the common questions regarding this particular initiative. If you cannot find the answer to your question, please do not

Watch Out for Coronavirus-Related Scams

On Thursday, April 2, the Internal Revenue Service (IRS) issued a warning concerning the development of new scams related to the coronavirus. It is not surprising that criminals are taking advantage of the chaos resulting from the coronavirus outbreak to perpetrate fraud. The IRS has observed an uptick in fraudulent requests related to the coronavirus

CARES Act FAQ: Emergency Economic Injury Grants

On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes $10 billion in funding to provide emergency grants to small businesses and nonprofits that apply for economic injury disaster loans. Below, we address some of the common questions regarding this particular initiative. If

CARES Act FAQ: Paycheck Protection Program

On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economics Security (CARES) Act. The historic $2.2 trillion stimulus bill includes a $349 billion paycheck protection program (PPP) that targets aid to small businesses dealing with losses resulting from the coronavirus pandemic. The PPP uses the already-existing small-business loan framework of the Small Business

CARES Act FAQ: Recovery Rebate

On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The historic $2.2 trillion stimulus bill includes an estimated $300 billion in direct payments to eligible American taxpayers. Below, we address some of the common questions regarding this particular initiative. If you cannot find the answer to your question, please

Paycheck Protection Program Application Form

This form is to be completed by the Applicant and all individuals identified below and submitted to your SBA Participating Lender. Submission of the requested information is required to make a determination regarding eligibility for financial assistance. Failure to submit the information would affect that determination.  View Form Here »

PAYCHECK PROTECTION PROGRAM (PPP) INFORMATION SHEET: BORROWERS

The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their employees during the COVID-19 crisis. All loan terms will be the same for everyone.  View Entire PDF »