Information regarding COVID-19 support is coming fast and from many sources. We felt our clients would benefit from a summary of the Families First Coronavirus Response Act. View Summary This communication should not be construed as tax or legal advice or tax or legal opinion on any specific facts or circumstances. This communication [...]
PBGW continues to research the latest forms of assistance available to small businesses. The COVID-19 Working Capital Access (CWCA) Program is administered by the Pennsylvania Industrial Development Authority (PIDA) and provides critical working capital financing to small businesses located within the Commonwealth that are adversely impacted by the COVID-19 outbreak. All CWCA loan applications must [...]
Additional information on relief and filing extensions for taxpayers who need more time beyond the July 15 deadline: https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed This communication should not be construed as tax or legal advice or tax or legal opinion on any specific facts or circumstances. This communication does not create any accountant/client or attorney/client privilege. The contents are intended [...]
The PA Department of Revenue announced the deadline for taxpayers to file their 2019 Pennsylvania personal income tax returns is extended to July 15, 2020. This PA extension applies to both final 2019 tax returns and payments, and estimated payments for the first and second quarters of 2020. On Friday, the Trump administration also announced that [...]
At PBGW we strive to serve our clients and our communities in a manner that is sometimes effectively outside the box. This is one of those times. At PBGW we have been monitoring and studying cash flow options available for small businesses. Yesterday, Governor Wolf made application for a Small Business Administration Financial Injury Loan [...]
Yesterday Gov. Wolf announced that all non-life-sustaining businesses in Pennsylvania must close immediately. The order is effective as of 8 pm on Thursday, March 19, 2020, until further notice. The governor's order indicates that enforcement actions against non-compliant businesses will begin at 12:01 am on Saturday, March 21, 2020. To find the governor's list of [...]
On Tuesday, March 17, 2020, Treasury Secretary Steven Mnuchin announced that individuals and corporations can delay their federal tax payments for 90 days due to the COVID-19 pandemic. However, this announcement did not delay the April 15 filing deadline. Individuals can defer up to $1 million in payments for 90 days from the April 15 [...]
The US House of Representatives has passed the Families First Coronavirus Response Act, and the Senate is likely to pass the bill this week, as President Trump has indicated his intention is to sign the bill into law. The final bill may be different than the bill that passed the House, but it looks like [...]
The President signed the Further Consolidated Appropriations Act, 2020 on December 20, 2019. The new Act averts a government shutdown that would have begun on December 21, 2019, and includes several provisions related to retirement plan reform. The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE) (Division O [...]
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