COVID-19 Resource Guide: Taxpayers & Small Businesses

During the coronavirus pandemic, it’s our goal to continue supporting the health, safety, and prosperity of our clients in any way we can. In this post, we’ve compiled some key resources for taxpayers and small business owners trying to stay up to date on the latest accurate information from trusted news sources. If you have any questions, please let us know.

Helpful Features for Clients During COVID-19

If you’re a current client of ours, we are prepared to continue helping you even in the midst of the COVID-19 crisis. Below are some of the most helpful features we have to continue our secure, virtual engagements with you:

Client portal
TeleAccountant™ browser-based video meetings (NEW!)
Secure file sharing
E-Sign
Expert-written COVID-19 content to keep you updated on our blog
SBA emergency loan information
Tax Organizers & Digital Workflows

Have any questions? Contact us today.

Blogs

See all content and resources relating to coronavirus on our blog. Here’s the full list:

For Taxes

In order to best serve our tax clients during these unprecedented times, we want to make sure you’re staying up to date on the latest info from the IRS and other sources.

In addition to watching the sources below, we’ll be posting to our blog as legislation passes or anything else changes. We recommend checking on updates from these sources frequently.

IRS

Get My Payment portal for stimulus payments
Note: A Spanish version of Get My Payment is available here.
Taxpayer Bill of Rights
IRS Newsroom
IRS Coronavirus Relief
Key news releases:

February 8, 2021: New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA
February 4, 2021: Educators can now deduct out-of-pocket expenses for COVID-19 protective items
January 29, 2021: IRS updates FAQs on paid sick leave credit and family leave credit
January 28, 2021: IRS offers guidance to taxpayers on identity theft involving unemployment benefits
January 27, 2021: Important reminders before filing 2020 tax returns
January 26, 2021: New law extends COVID tax credit for employers who keep workers on payroll
January 19, 2021:Employers can withhold, make payments of deferred Social Security taxes from 2020
January 15, 2021: 2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic
January 15, 2021: IRS Free File available today; claim Recovery Rebate Credit and other tax credits
January 12, 2021: IRS ready for the upcoming tax season; last-minute changes to tax laws included in IRS forms and instructions
January 7, 2021: Treasury issues millions of second Economic Impact Payments by debit card
January 6, 2021: Eligible Paycheck Protection Program expenses now deductible
January 4, 2021: Economic Impact Payments on their way, visit IRS.gov instead of calling
December 29, 2020: Treasury and IRS begin delivering second round of Economic Impact Payments to millions of Americans
November 9, 2020: IRS reminder to non-filers: Nov. 10 is ‘National EIP Registration Day;’ Community partners can help people sign up for Economic Impact Payment
November 5, 2020: Many college students may still qualify for an Economic Impact Payment; review the guidelines and register by Nov. 21 at IRS.gov
November 4, 2020: Security Summit partners warn taxpayers of new COVID-related text scam
November 2, 2020: IRS makes it easier to set up payment agreements; offers other relief to taxpayers struggling with tax debts
October 26, 2020: IRS provides tax inflation adjustments for tax year 2021
October 7, 2020: October 15 deadline nears for taxpayers who requested tax filing extensions
October 5, 2020: IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers
September 24, 2020: IRS highlights employer credits for businesses during Small Business Week
September 23, 2020: IRS reminds taxpayers of the home office deduction rules during Small Business Week
September 17, 2020: IRS releases state-by-state breakdown of nearly 9 million non-filers who will be mailed letters about Economic Impact Payments
September 16, 2020: IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches
September 16, 2020: IRS reminds taxpayers and practitioners of expedited letter ruling procedures
September 8, 2020: IRS to mail special letter to estimated 9 million non-filers, urging them to claim Economic Impact Payment by Oct. 15 at IRS.gov
August 28, 2020: Guidance issued to implement Presidential Memorandum deferring certain employee Social Security tax withholding
August 28, 2020: IRS approves temporary use of e-signatures for certain forms
August 25, 2020: IRS: 50,000 spouses to get catch-up Economic Impact Payments
August 24, 2020: IRS: Deadline to return distributions to retirement accounts is Aug. 31
August 18, 2020: IRS: Unemployment compensation is taxable; have tax withheld now and avoid a tax-time surprise
August 18, 2020: 13.9 million Americans to receive IRS tax refund interest; taxable payments to average $18
August 14, 2020: IRS takes new steps to ensure people with children receive $500 Economic Impact Payments
July 30, 2020: IRS grants additional relief for rehabilitation credit deadlines
July 29, 2020: IRS: New law provides relief for eligible taxpayers who need funds from IRAs and other retirement plans
July 28, 2020: IRS issues final regulations and other guidance on business interest expense deduction limitation
July 27, 2020: IRS provides guidance on recapturing excess employment tax credits
July 20, 2020: IRS advice for those who missed the July 15 deadline, file now to avoid bigger bill
July 16, 2020: IRS debunks tax refund myths
July 16, 2020: IRS unveils "Dirty Dozen" list of tax scams for 2020; Americans urged to be vigilant to these threats during the pandemic and its aftermath
July 15, 2020: IRS is sending letters to those experiencing a delay with advance payment of employer credits
July 15, 2020: Where’s My Refund? tool on IRS.gov takes guesswork out of when to expect refunds
July 14, 2020: IRS provides additional relief for tax-exempt hospitals: Deadline for completing certain needs assessment requirements moved to Dec. 31
July 14, 2020: IRS reminder: File and pay 2019 business taxes by July 15; 2020 estimated tax also due
July 9, 2020: IRA contributions made by July 15 count as 2019 tax deduction
July 9, 2020: IRS.gov has answers about filing, paying and July 15 due date
July 8, 2020: Treasury, IRS issue guidance on reporting qualified sick and family leave wages paid
July 8, 2020: Taxpayers need to resume payments by July 15
July 1, 2020: IRS provides tax relief for the low-income housing credit and bonds for qualified residential rental projects
July 1, 2020: IRS unclaimed refunds of $1.5 billion waiting for tax year 2016; taxpayers face July 15 deadline
June 29, 2020: Taxpayers should file by July 15 tax deadline; automatic extension to Oct. 15 available
June 26, 2020: IRS: July 15 tax payment deadline approaching; plan on scheduling multiple payments now
June 23, 2020: IRS announces rollover relief for required minimum distributions from retirement accounts that were waived under the CARES Act
June 19, 2020: Relief for taxpayers affected by COVID-19 who take distributions or loans from retirement plans
June 17, 2020: IRS outlines changes to health care spending available under CARES Act
June 16, 2020: IRS alert: Economic Impact Payments belong to recipient, not nursing homes or care facilities
June 12, 2020: Treasury, IRS provide tax relief to investors and businesses affected by COVID-19 in new markets tax credit transactions
June 11, 2020: IRS provides guidance on employer leave-based donation programs that aid victims of the COVID-19 pandemic
June 8, 2020: IRS warns against COVID-19 fraud; other financial schemes
June 4, 2020: IRS provides answers about Coronavirus related tax relief for Qualified Opportunity Funds and investors
June 4, 2020: Interest rates decrease for the third quarter of 2020
June 4, 2020: IRS Chief Counsel goes virtual with national Settlement Days; Helps dozens of taxpayers settle their Tax Court cases
June 3, 2020: 159 million Economic Impact Payments processed; Low-income people and others who aren’t required to file tax returns can quickly register for payment with IRS Non-Filers tool
June 3, 2020: IRS provides relief to retirement plan participants to sign elections remotely
June 2, 2020: IRS reminder: June 15 tax deadline postponed to July 15 for taxpayers who live and work abroad
May 28, 2020: IRS announces Form 1040-X electronic filing options coming this summer; major milestone reached for electronic returns
May 27, 2020: Economic Impact Payments being sent by prepaid debit cards, arrive in plain envelope; IRS.gov answers frequently asked questions
May 22, 2020: Treasury, IRS release latest state-by-state Economic Impact Payment figures for May 22, 2020
May 18, 2020: IRS adds phone operators to answer Economic Impact Payment questions
May 15, 2020: IRS expands partner materials for Economic Impact Payments; continues sweeping effort to share details in multiple languages
May 12, 2020: IRS provides tax relief through increased flexibility for taxpayers in section 125 cafeteria plans
May 11, 2020: Why the Economic Impact Payment amount could be different than anticipated
May 8, 2020: Act by Wednesday for chance to get quicker Economic Impact Payment; timeline for payments continues to accelerate
May 8, 2020: Treasury, IRS release latest state-by-state Economic Impact Payment figures
May 7, 2020: IRS: Three new credits are available to many businesses hit by COVID-19
May 5, 2020: IRS retools Settlement Days program in response to COVID-19 pandemic; allows unrepresented taxpayers to settle their cases virtually and reach finality
April 28, 2020: Use IRS Non-Filers: Enter Payment Here tool to get Economic Impact Payment; many low-income, homeless qualify
April 26, 2020: IRS enhances Get My Payment online application to help taxpayers
April 24, 2020: VA, SSI recipients with eligible children need to act by May 5 to quickly add money to their automatic Economic Impact Payment; ‘Plus $500 Push’ continues
April 24, 2020: Treasury, IRS deliver 88 million Economic Impact Payments in first three weeks, release state-by-state Economic Impact Payment figures
April 21, 2020: Treasury, IRS announce cross-border tax guidance related to travel disruptions arising from the COVID-19 emergency
April 20, 2020: SSA, RRB recipients with eligible children need to act by Wednesday to quickly add money to their automatic Economic Impact Payment; IRS asks for help in the "Plus $500 Push"
April 17, 2020: Veterans Affairs recipients will receive automatic Economic Impact Payments
April 15, 2020: Supplemental Security Income recipients will receive automatic Economic Impact Payments
April 15, 2020: Treasury, IRS unveil online application to help with Economic Impact Payments; Get My Payment allows people to provide direct deposit information and gives payment date
April 13, 2020: REMINDER: Schedule and pay federal taxes electronically due by July 15
April 10, 2020: Treasury, IRS launch new tool to help non-filers register for Economic Impact Payments
April 9, 2020: IRS urges taxpayers to use electronic options; outlines online assistance
April 9, 2020: IRS extends more tax deadlines to cover individuals, trusts, estates corporations and others
April 2, 2020: IRS issues warning about Coronavirus-related scams; watch out for schemes tied to economic impact payments
March 31, 2020: Employee Retention Credit available for many businesses financially impacted by COVID-19
March 30, 2020: Economic impact payments: What you need to know
March 21, 2020: Tax Day now July 15 – Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed

AICPA

State Tax Filing Guidance for Coronavirus Pandemic

Tax Foundation

Tracking State Legislative Responses to COVID-19

For Small Businesses

Whether you use these resources for your own small business or to send to SMB owners you know, this list showcases some of the resources and assistance available to help SMBs in this time of economic hardship. For any questions about these offerings and how we can help, reach out to our team.

In addition to watching the sources below, we’ll be posting to our blog as legislation passes or anything else changes. We recommend checking on updates from these sources frequently.

U.S. Treasury Department

USA Small Business Administration

U.S. Chamber of Commerce

U.S. Federal Reserve

Department of Labor

Resources

FREE Guide – Applying for PPP Loan Forgiveness
Stand for Small: COVID-19 Help for Small Businesses
Small Business Development Center: COVID-19 Small Business Resources
ADP: Good resource for businesses managing absences, paid and unpaid leave
Forbes: List Of Coronavirus Small Business Relief Programs (updated continually, state and local included)
Support Local (USA Today): Buy gift cards to support local businesses struggling during this time – and encourage others to do the same!
Mazars USA offers Paycheck Protection Program analysis tool for small biz

Financial assistance (Grants, loans, etc):

How To Get $1,000 If You Are A Freelancer, Gig Worker, Or Independent Contractor
For freelancers: The Freelancers Union has started a Freelancers Relief Fund where you can apply for grants to make up for lost income
Faire: Financial planner for retailers – Use this calculator to understand the potential impact of COVID-19 on your business, and see immediate next steps you can take
Loom: Free COVID-19 Cash Runway Scenario Planning Tool – Gauge the impact COVID-19 could have on your company
Facebook: Small Business Grants Program (offering $100M in cash grants and ad credits)
Finder.com: Where to find free or low-interest loans for small businesses affected by the coronavirus
Kiva: The crowdsourcing/microfinance company is offering 0% loans up to $15,000 with no payments for six months.
GoFundMe has partnered with Yelp to launch the Small Business Relief Initiative, offering grants and resources to small business owners.

Government Resources

Keep checking these pages for the latest news and guidelines straight from the source – government and public health officials.

Centers For Disease Control

World Health Organization Coronavirus Information Page
Department of Homeland Security Pandemic Guide

U.S. State Department

USA.gov

Social Media

If you aren’t following us on social media already, click the icons on our website to visit our social media profiles. Additionally, be sure to follow the accounts for crucial authorities during this time:

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COVID-19 Resource Guide: Taxpayers & Small Businesses