The knowledge you need

The challenges faced during the COVID-19 emergency are far-reaching and have impacted virtually every business. Not only have stay at home and business closures drastically impacted revenue, but the expansion of employee paid leave and emergency benefits have added another dimension to the problem.

The recently enacted Coronavirus Aid, Relief and Economic Security (CARES) Act, opens the door to tax saving, retirement plan, and business financing opportunities for Atlanta businesses.

President Trump recently signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, (the Act) that created $2T in relief including tax modifications and updates, new rules for benefit plans and new financing opportunities.

The Coronavirus Aid, Relief and Economic Security (CARES) Act,(the Act) offers comprehensive relief to Atlanta businesses and individuals during this unprecedented emergency. It comes on the heels of the Families First Coronavirus Response Act, which solidified new and existing paid sick leave policies and created tax credits for impacted companies.

On March 27, President Trump signed the Coronavirus Aid, Relief and Economic Security (CARES) Act, a comprehensive economic stimulus bill that provides almost $2 trillion in assistance to businesses, individuals and organizations.

When a Georgia employer reduces employee hours because of a COVID-19 issue, they are required to file a partial unemployment claim with the Georgia Department of Labor (GDOL).

The news last week of an extended IRS filing and payment deadline from April 15th to July 15th was welcome news for many struggling to cope with COVID-19. The extension granted businesses and individuals with additional time to review their tax situation and determine how they will make required income tax payments.

It’s obvious there are many businesses which currently, or soon will need help with payroll, leases and employee expenses. Matters have been made worse because many don’t know where to turn for help. The good news is companies absorbing COVID-19 losses can now apply for an SBA Economic Injury Disaster Loan (EIDL) to help.

The federal government’s comprehensive response to the Coronavirus (COVID-19) pandemic addresses not only efforts to contain the virus, but several business changes designed to protect employees and help companies impacted by this traumatic economic event.

As the challenges of COVID-19 continue to impact individuals and businesses, there has been concern about how many will comply with the upcoming tax filing deadline. Earlier this week, it was announced that taxpayers received a 90-day extension to pay any taxes owed to the federal government, but the filing deadline of April 15th remained.