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paycheck protection program

Best Practices When Completing the Paycheck Protection Program Application

April 3, 2020

Buchbinder has reviewed the information provided by the Treasury, and below are our recommendations of how the Paycheck Protection Program (PPP) application is to be completed. We are using version 3245-0407 from the SBA. Check the type of Entity, fill in Legal name address, TIN, phone number, primary contact and email address. For purposes of…

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coronavirus scam

IRS Warns Taxpayers of Coronavirus Scams

April 3, 2020

The Internal Revenue Service issued an important warning to taxpayers regarding attempted scams. IR-2020-64 The Internal Revenue Service urged taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft. “We urge people to take extra…

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cares act nonprofits

The CARES Act: Relief for Nonprofits

April 2, 2020

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, a $2 trillion economic recovery package, is designed to help every aspect of the US economy, including nonprofit organizations. Most nonprofits affected by the coronavirus (COVID-19) outbreak are eligible for some relief under the CARES Act, but it depends on your group’s size, financial condition and other…

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maryland accountants

Coronavirus Relief Programs for Maryland Small Businesses

April 1, 2020

Small businesses across Maryland are facing significant hardships because of the Coronavirus. Maryland is providing $130 million in loan and grant funds for Maryland-based businesses with less than 50 full and part-time employees. These relief programs can be used to pay for cash operating expenses, such as payroll, suppliers, rent, fixed debt payments and other…

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State Income Tax Deadlines

April 1, 2020

In addition to the IRS extending the federal tax filing deadline due to the Coronavirus pandemic, all states are extending their state income tax deadlines as well. Taxpayers do not need to take any action to receive the deadline extensions. New York, New Jersey, and Maryland are just a few states that are extending their…

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covid-19

Guidance on the Families First Coronavirus Response Act

March 31, 2020

The Department of Labor released new guidance on the Families First Coronavirus Response Act, which was signed into law on March 18, 2020 and goes into effect on April 1, 2020. The Act provides provisions for paid sick leave, free testing and expanded unemployment benefits. These answers to common questions will help employers navigate the…

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