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When Will You Get Your Funds? With the impact of the COVID-19 crisis affecting people all over the country, the Internal Revenue Service and the Treasury Department have said that the monies promised to Americans will begin being distributed in the next three weeks, providing a lifeline to those whose financial lives have been upended …
Watch this video to learn about the different income thresholds and phaseout amounts for the stimulus rebate program. The rebate is actually a credit allowed on your 2020 tax return being paid in advance. Learn more.
One of the benefits included in the COVID-19 epidemic stimulus package is the ability for an employer to defer payment of the employer’s share of certain federal payroll taxes. The deferral applies to the employer’s 6.2% share of the Social Security (OASDI) payroll tax. The deferral does not apply to the employer’s 1.45% share of …
Watch this video to learn about the latest changes regarding unemployment and the self-employed. To qualify an individual must self-certify they were unable to work for one or more of 10 specified reasons.
In the face of the growing COVID-19 pandemic, Congress has passed the Paycheck Protection Program, a $349 billion effort to support small businesses and facilitate their ability to continue paying their employees through the crisis period. The law authorizes the granting of forgivable loans, all of which will carry the same terms. In order for …
There are two different types of government business loans available to help small businesses stay afloat during the coronavirus emergency that are quite different in nature. The Paycheck Protection Program loans provide funding to continue paying employees during the crisis and the Economic Injury Disaster Loans provide vital economic support to help overcome the temporary …
To help businesses retain employees and keep them employed during the COVID-19 crisis, Congress has provided a refundable employer retention credit available to all qualifying employers regardless of size, including tax-exempt organizations. Do you quality for the credit? To qualify for the credit, employers must fall into one of two categories: Business Operations Curtailed: Eligible employers …
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27th by President Trump, includes an unemployment assistance program for individuals who under normal circumstances would not qualify for unemployment benefits, which traditionally have only applied to employees. Under the CARES Act, unemployment benefits are now available for self-employed individuals, independent …
Need to know how to file for unemployment in Washington state or Oregon state? We’ve listed contact information and details about unemployment insurance below. In these times of uncertainty, governments all over the world are taking unprecedented action to support people who have been adversely affected by the COVID-19 pandemic. On March 12th, the U.S. …
