The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a $2 trillion economic relief plan, which includes direct payments to many Americans, expanded unemployment benefits, and additional benefits for individuals and families during these difficult times....
The newly enacted CARES Act provides for forgivable small business loans. The maximum loan amount is 250 percent of average monthly payroll. The amount that qualifies for forgiveness is the amount spent for the following costs during the eight week period after the loan is...
The Coronavirus Aid, Relief, and Economic Security (CARES) Act is a $2 trillion economic relief plan which includes direct payments to Americans, strengthened unemployment insurance, loans to businesses, and increased health-care resources. The CARES Act was signed into law by President Trump on Friday, March...
Please note that the Department of Labor has determined that the effective date for the Families First Coronavirus Response Act (FFCRA) will be April 1, 2020. The text of the FFCRA states that the act takes effect “not later than 15 days after the date...
The New Jersey Economic Development Authority approved a package of initiatives that can be worth an estimated $75 million to $100 million to help businesses cope with the impact the coronavirus outbreak has had on the economy. All business owners who are interested in these and...
What employers need to know about the recently enacted emergency family leave and paid sick leave laws The Families First Coronavirus Response Act (H.R. 6201), which was signed into law on March 18, 2020, provides paid emergency family leave and paid sick leave for people affected...
Relief available for small businesses impacted by pandemic shutdowns Small businesses are currently eligible to apply for an Economic Injury Disaster Loan (EIDL) through the Small Business Association (SBA) due to Coronavirus (COVID-19). [Update: get the US Chamber’s Guide to SBA’s Economic Injury Disaster Loans.] These loans...
The IRS has extended the federal filing deadline to July 15, 2020. New Jersey has also extended its filing deadline to June 30, 2020. The New York filing deadline is now July 15, 2020. Despite the extended deadlines, KRS professionals are available and working remotely. We...
It’s been a very busy year at the IRS, with many special tax changes. Below is a review of some of the top issues you will want to discuss with your tax preparer as the year draws to a close and again when you meet to...
Business owners may be considering applying for unemployment benefits because of a temporary suspension of business operations due to COVID-19. If you are an owner of a corporation, or you own more than a five percent equitable or debt interest in the corporation, you will not...
