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The new “Coronavirus Aid, Relief and Economic Security Act” (CARES Act) will provide some student loan relief. The legislative package provides a $2 trillion economic stimulus for businesses and families faced with the economic challenges of the COVID-19 coronavirus. Additionally, the legislative package provides a 6-month relief for federal student loan borrowers. The Secretary of […]

The IRS announced that the income tax filing due date is now extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and […]

The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division (WHD) administers and enforces the new law’s paid leave requirements. These provisions will apply from the effective […]

We would like to update you on the following information that can provide financial assistance in these difficult times. 1. The SBA is providing low-interest working capital loans of up to $2 million to small businesses and nonprofits affected by the coronavirus. The program allows fixed-rate loans of 3.75% for businesses and 2.75% for non-profit organizations, […]