(CARES) Act: Individual Tax Payments and Provisions
By Jennifer Kobylarz, CPA, MST Direct Payments The CARES Act provides for immediate direct payments to certain individuals. The Act has authorized payments of $1,200 per individual, $2,400 per married couple, with an additional $500 per qualifying child based on filed 2019 tax returns. If a 2019 tax return has not yet been filed, the […]
(CARES) Act: Small Business Administration Loans and Grants
By Jennifer Kobylarz, CPA, MST In an effort to protect employee wages, the CARES Act established a Small Business Administration (SBA) – Business Loan Program called the Paycheck Protection Program. The SBA will guarantee 100% of the loans made under the program from February 15, 2020 through June 30, 2020. The SBA loans are only […]
COVID-19 2019 Tax Filing and Payment Extension
On March 20, 2020 Treasury Secretary Steven Mnuchin sent a Tweet out to the American people announcing that the April 15th tax deadline would be postponed until July 15, 2020. The IRS promptly issued Notice 2020-18 to corroborate this announcement. The new Notice supersedes Notice 2020-17 which postponed tax payments due on April 15th until […]
Webinar: Automotive Dealership Response to COVID-19 Crisis, Q&A
For those of you who requested or those that might have missed it, a copy of this morning’s Automotive Dealership webinar can be found here. https://zoom.us/rec/play/6Zd5Jbyv_Wk3GtfBuASDU_Z9W9W-ff6s1Cgd_fNezx7hByICZAeuYeBAYOf1fRFZf5wmIWvWdX-_8UrR?startTime=1584715629000 Thank you to Scott Lewis, CPA, Michael Semanie and Kenneth Rosenfield for presenting.