Summary of CARES Act Business Tax Provisions
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into law after the legislation was passed with bipartisan support in the U.S. Senate and House of Representatives. The CARES Act includes substantial relief and stimulus benefits for individuals and businesses impacted by the Coronavirus (“COVID-19”) crisis. The […]
Summary of CARES Act Employment Tax Provisions
Visit our COVID-19 Resource Center for information on the latest developments with the Paycheck Protection Program and other relief measures. On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into law after the legislation was passed with bipartisan support in the U.S. Senate and House of Representatives. […]
CARES Act: EIDL Advances
On July 11, 2020, the U.S. Small Business Administration announced the conclusion of the Economic Injury Disaster Loan (EIDL) Advance program, which provided U.S. small businesses, non-profits and agricultural businesses a total of $20 billion in emergency funding. The EIDL Advance program provided businesses with $1,000 per employee up to a maximum of $10,000. The […]
CARES Act: Paycheck Protection Program
Visit our COVID-19 Resource Center for information on the latest developments with the Paycheck Protection Program and other relief measures. On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into law after the legislation was passed with bipartisan support in the U.S. Senate and House of Representatives. […]
Summary of CARES Act Individual Tax Provisions
On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) into law after the legislation was passed with bipartisan support in the U.S. Senate and House of Representatives. The CARES Act includes substantial relief and stimulus benefits for individuals and businesses impacted by the Coronavirus (“COVID-19”) crisis. The […]
SBA Economic Injury Disaster Loans
March 29, 2020 Update – Provisions of this relief measure were updated when the CARES Act was signed into law by President Trump on March 27, 2020 The CARES Act includes $10 billion in funding for a provision to provide advances of up to $10,000 to small businesses and nonprofits that apply for EIDLs within […]
IRS Guidance and Q&A Regarding the Income Tax Filing and Payment Deadline Extensions
On March 24, 2020, the IRS issued guidance in the form of a Q&A to the most frequently asked questions about this change in filing deadlines due to the coronavirus pandemic. Your Tronconi Segarra & Associates tax advisors are all working remotely and safely to continue serving you through this unprecedented time. If you have […]
New York Tax Relief for Sales Tax Vendors Affected by COVID-19
March 23, 2020 Update The New York State Department of Taxation and Finance has issued a Notice (N-20-1) on the abatement of interest, as well as late filing and payment penalties, for sales tax vendors who were unable to timely file and pay on March 20, 2020, as a result of the COVID-19 virus. See […]
Tax Relief Announced by Secretary of the Treasury Mnuchin; April 15 filing deadline is not changed
U.S. Treasury Secretary Steven Mnuchin announced during a March 17 news conference that President Trump has authorized him to make the following announcement today: “If you owe a payment to the IRS, you can defer up to $1 million as an individual — and the reason why we are doing $1 million is because that […]
Serving You During the Coronavirus Situation
As the situation with coronavirus (COVID-19) evolves, we want to reassure you that your Tronconi Segarra & Associates team is ready and standing by to support you. Our offices are open; and we plan to remain open as long as guidance from local, state and federal governmental and healthcare authorities deem appropriate. If necessary, all […]