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Apr 01, 2020DOL Issues More Guidance on Family First Coronavirus Response Act
The DOL recently issued more guidance on the Family First Coronavirus Response Act (FFCRA) which takes effect beginning today, April 1st, 2020. The FFCRA allows for some small business exemptions and employers to exempt “health care providers” and “emergency responders”. The new DOL guidance includes…
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Apr 01, 2020
Coronavirus Aid, Relief and Economic Security “CARES” Act
In response to the Coronavirus 19 pandemic, Congress has passed $2 Trillion dollar’s worth of economic aid to American taxpayers and businesses. The scope and extent of these laws is both wide ranging and immediate in an attempt to assist economic disruption caused by the…
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Mar 31, 2020The new COVID-19 law provides businesses with more relief
On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Employee retention credit The new law provides…
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Mar 30, 2020
Relief from certain Filing and Payment Deadlines due to COVID-19 from New York
On March 7, 2020, Governor Andrew M. Cuomo declared a State Disaster Emergency for all of New York State due to the impact of the novel coronavirus, COVID-19 outbreak. The Governor has subsequently issued Executive Order No. 202.12 authorizing the Commissioner to provide relief from…
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Mar 30, 2020
Coronavirus Emergency Business Loans
The Coronavirus Aid, Relief, and Economic Security (CARES) Act allocated $350 billion to help small businesses keep workers employed amid the pandemic and economic downturn. Known as the Paycheck Protection Program, the initiative provides 100% federally guaranteed loans to small businesses.
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Mar 30, 2020
Coronavirus Tax Relief Update
Congress has recently passed the “CARES Act” which is a $2 trillion stimulus package to help deal with the economic fallout from the coronavirus pandemic. The president is expected to sign it shortly. The main provisions include: $250 billion for direct payments to individuals and…
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Mar 27, 2020
DOL Issues Workplace Posters and More Guidance on Family First Coronavirus Response Act
Last week we emailed clients information about the new Family First Coronavirus Response Act (FFCRA). The language of the Act states that the leave provisions take effect “not later than 15 days after the date of enactment.” The Act was passed on March 18, 2020….
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Mar 25, 2020
SBA Disaster Loan Program for Small Businesses
The U.S. Small Business Administration (SBA) is offering a low-interest federal disaster loan through the Economic Inquiry Disaster Loan Program (EIDL). The loan is for working capital for small businesses suffering substantial economic inquiry as a result of the Coronavirus. These loans: • Offer up…
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Mar 24, 2020
Tax Filing & Payment Deadlines Update
As you may have heard, the IRS has extended the filing and payment deadlines for individual and corporate tax returns that are due April 15, 2020. Payments that would otherwise be due April 15, 2020 are automatically extended until July 15, 2020 for payments of…
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Mar 24, 2020COVID-19 New Legislation
The COVID-19 situation in the United States is continuously changing. Both the Federal government and the New York State government recently signed major legislation into law giving employees job-protected, paid leave from work. Many of our clients have questions regarding the new paid leave bills…