By: Sharon Kreider

CLIENT LETTER — STIMULUS PAYMENT

The Coronavirus has infected our life in many ways. Family and friends are sick, quarantined or under a stay-in-place order. The stock market has crashed. The kids are out of school. Restaurants and shopping malls are closed. More than three million unemployment claims were filed in one week. Enough of the cable news . . . If you are laid off or you have closed your business, you know the details.

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By: Sharon Kreider

THE CARES ACT STIMULUS PAYMENT

The Coronavirus has infected our life in many ways. Family and friends are sick, quarantined or under a stay-in-place order. The stock market has crashed. The kids are out of school. Restaurants and shopping malls are closed. More than three million unemployment claims were filed in one week. Enough of the cable news . . .

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By: Sharon Kreider

MOST EMPLOYERS REQUIRED TO PAY SICK LEAVE IF ABSENCE RELATED TO CORONAVIRUS

The Stimulus Bill. A much larger, at $2 trillion, stimulus bill, known as the CARE Act, passed the Senate unanimously last night. The House will vote tomorrow and the President has promised to quickly sign the legislation. There are nearly 900 pages in the final legislation (there were ten versions of the Senate bill, one actually marked Final, Final.) By Monday, I’ll release an eTax Alert on the cash rebate. You will, if you haven’t already, get a deluge of questions on what, who, how, and when. In the meantime, here is a summary that you may need for your business clients on the sick leave requirements enacted Mar. 18, 2020.

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By: Sharon Kreider

The IRS Extends COVID-19 Pandemic Relief

The grant of relief is for PAYMENTS ONLY. It does not extend the filing deadline dates. Any person with a Federal income tax payment due on April 15, 2020 to be an affected person. Payments of federal income, including self employment tax, due on April 15, 2020 are postponed to July 15, 2020.

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