Covid-19 Updates From Reynolds + Rowella
PPP/EIDL Forms and Fact Sheet Update
The CARES Act is designed to provide assistance to many businesses that may not meet the customary small business thresholds, including two loan program and the potential for loan forgiveness —eligible small businesses who have been economically impacted by the COVID-19 pandemic should strongly consider taking advantage of the loan programs. Paycheck Protection Program Forms […]
Read MoreCARES ACT UPDATE: TAX RELIEF FOR INDIVIDUALS
The Coronavirus Aid, Relief and Economic Security Act (CARES Act), passed on March 27th, is designed to provide relief to individuals and business. This legislation addresses concerns ranging from small business interruption to individual, family, and business economic relief. This summary focuses on those provisions relevant to individuals. Recovery Rebates Individuals, other than nonresident aliens […]
Read MoreCARES Act: Understanding the Economic Provisions for Small Business
On March 27th, Congress enacted the Coronavirus Aid, Relief, and Economic Security (CARES) Act. While the bill contains numerous economic and healthcare response-related provisions, this summary focuses on a few aspects of the economic provisions for small business owners. Paycheck Protection Program The CARES Act focuses on providing economic relief with a newly-created tool: the […]
Read MoreLegislation Impacting Your Business (Action Requested)
On Wednesday, March 25th the Senate passed an updated version of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill builds upon earlier versions of the CARES Act. This legislation has the potential to directly impact your business in a significant way. While there are many facets of this bill that seek to […]
Read MoreCOVID-19 Pandemic Poses Complex HR Policy Questions
Questions from employers and employees about coronavirus (COVID-19) pandemic are multiplying almost as fast as the virus itself. Employers need to rely on a combination of authoritative legal and medical advice, and their own common sense, to keep employees safe. Guidance issued almost daily from the Centers for Disease Control (CDC), the U.S. Department of […]
Read MoreCoronavirus relief law includes tax breaks for paid sick leave. Update
The coronavirus relief bill signed into law by President Donald Trump on Wednesday includes provisions for paid sick leave, family leave and medical leave, along with tax credits to help employers and the self-employed pay for them. The Families First Coronavirus Response Act (FFCRA), H.R. 6021, also includes provisions for free coronavirus testing, enhanced unemployment insurance, […]
Read MoreU.S. Delays April 15 Tax Payments for 90 Days for Most Americans
Treasury Secretary Steven Mnuchin announced Tuesday that his department has pushed back the April 15 deadline to pay taxes owed, giving individuals and many businesses 90 extra days to send payments to the government. Individuals can defer up to $1 million of tax liability and corporations get an extension up to $10 million. The payment […]
Read MoreCOVID-19 (CORONAVIRUS) Federal Tax Filing UPDATE
Office Operation Update: Following national guidelines, Reynolds + Rowella will temporarily close our offices as of close of business Friday, March 20th. Our firm’s technology infrastructure and proactive business continuity plan will help to ensure that we can continue our work seamlessly to support our clients from out-of-the-office locations. IRS Tax Filing Update: Treasury Secretary […]
Read MoreCOVID-19: Preparing Your Workforce
While Fairfield County has not yet become a COVID-19 ‘hot spot,’ it’s important for employers to begin preparing now, in the event that the virus takes a foothold in our area. Employers should begin by regularly monitoring recommendations from the CDC, public health agencies, and state officials. Below are additional steps employers can take to […]
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