We hope you are safe and healthy in the current pandemic.
We are continuing to closely monitor this situation and will keep you informed as more details become available. If you have any questions, please do not hesitate to contact us.
For Our Business Clients
The PA Industrial Development Authority has approved a $61 Million loan program. The Chester County Economic Development Council is now accepting applications to a COVID-19 Working Capital Access Program.
This program is designed to supply working capital to businesses negatively impacted by the COVID-19 pandemic. Even if you’re not in Chester County, reach out to them to find out who to should contact. To learn more, visit the Chester County Economic Development Council website.
Federal Filing Deadline
The due date for filing Federal income tax returns and Federal income tax payments otherwise due on April 15, 2020, is extended to July 15, 2020, as a result of the ongoing Coronavirus (COVID-19) emergency. A taxpayer does not have to be sick, quarantined, or have any other impact from COVID-19 to qualify. Keep reading…
State Filing Tax Deadlines
Even though states are contemplating tax filing deadline extensions, there are a number of states that are silent. Without legislation to extend either the tax return and/or estimated payment dates, the due dates are still April 15. Find out more about Pennsylvania, Delaware, and NJ…
Families First Coronavirus Response Act (Act)
The Families First Coronavirus Response Act (Act) provides paid sick leave and expands family and medical leave for COVID-19 related reasons and creates the refundable paid sick leave credit and the paid childcare leave credit for eligible employers. Learn more…
The Act provides that employees of eligible employers can receive two weeks (up to 80 hours) of paid sick leave at 100% of the employee’s pay where the employee is unable to work because the employee is quarantined, and/or experiencing COVID-19 symptoms, and seeking a medical diagnosis. Keep reading…
Paid Sick Leave Credit
For an employee who is unable to work because of Coronavirus quarantine or self-quarantine or has Coronavirus symptoms and is seeking a medical diagnosis, eligible employers may receive a refundable sick leave credit for sick leave at the employee’s regular rate of pay, up to $511 per day and $5,110 in the aggregate, for a total of 10 days. Keep reading…
Child Care Leave Credit
In addition to the sick leave credit, for an employee who is unable to work because of a need to care for a child whose school or childcare facility is closed or whose childcare provider is unavailable due to the Coronavirus, eligible employers may receive refundable childcare leave credit. Keep reading…
Payment for the Cost of Providing Leave
When employers pay their employees, they are required to withhold from their employees’ paychecks federal income taxes and the employees’ share of Social Security and Medicare taxes. The employers then are required to deposit these federal taxes, along with their share of Social Security and Medicare taxes, with the IRS and file quarterly payroll tax returns (Form 941 series) with the IRS. Keep reading…
Contributions to IRAs and HSAs
The extension of the filing deadline also extends the deadline for making contributions to individual retirement accounts (IRAs), as well as a health savings account (HSA) and Archer medical savings accounts (MSAs). Keep reading…
Small Business Exemption
Small businesses with fewer than 50 employees will be eligible for an exemption from the leave requirements relating to school closings or childcare unavailability where the requirements would jeopardize the ability of the business to continue. The exemption will be available on the basis of simple and clear criteria that make it available in circumstances involving jeopardy to the viability of an employer’s business as a going concern. The U.S. Department of Labor (Labor) will provide emergency guidance and rulemaking to clearly articulate this standard.
The U.S. Department of Labor will also be issuing a temporary non-enforcement policy that provides a period of time for employers to come into compliance with the Act. Under this policy, Labor will not bring an enforcement action against any employer for violations of the Act so long as the employer has acted reasonably and in good faith to comply with the Act. Labor will instead focus on compliance assistance during the 30-day period.
Success as a remote worker begins with developing a few simple rules that will allow you to be engaged and intentional about your work and will create a positive experience. View the list of 10 tips.
Avoid Becoming a Scam Victim
Unfortunately, when times get tough, people will look to take advantage when they can. Here are ten tips to help you avoid becoming a scam victim. View the tips…
Additional resources you may find helpful:
- Centers for Disease Control and Prevention CDC
- Pennsylvania Department of Health
- World Health Organization (WHO)
Please call our office for more information about these credits and other relief. We are here to help you navigate these difficult times.