TAX FILINGS AND RELIEF ASSISTANCE
Updated: 27 March 2020
THE CARES ACT - Signed 27 March 2020 - Stimulus Checks and Overview of Individual and Business Tax Provisions
This page will be updated periodically to provide information on the latest COVID-19 news as it relates to Tax filings and relief assistance. The links to the official government releases are provided below as well as links to resources for Small Businesses in need of assistance.
There are already SCAMMERS trying to obtain funds from indivividuals in need. Please exercise extreme caution and verify all sources before responding. Scammers have been setting up fake websites and using fake emails to sell bogus products and offer funding assistance.
ROUND ROCK CHAMBER OF COMMERCE: RESOURCE PAGE https://roundrockchamber.org/category/covid-19/
TAX PAYMENTS AND FILINGS: TAX DAY has been moved from April 15th to July 15th. Taxpayers have until July 15 to file their returns and if applicable to pay their taxes. If you believe you are due a refund, you can file before July 1th to receive your refund. Additionally, any estimated payments normally due on April 15th has also been moved to July 15th. If you have any questions please call our office.
- March 21, 2020: Tax Day now July 15 – Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed
- March 18, 2020: Treasury News Release – Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak
- March 11, 2020: High-deductible health plans can cover coronavirus costs
- Notice 2020-17 (PDF), Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
- Notice 2020-15 (PDF), High deductible health plans and expenses related to COVID-19
SMALL BUSINESSES: The following is a list of resources for small business. Texas was added to the SBA Disaster Loans on Friday March 20, 2020. Additionally, the Treasury and IRS have relased information regarding paid leave for workers and tax credits for small and midsize businesses as well as refundable payroll tax credits.
- March 20, 2020: Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave
USA Small Business Administration
Insurance Claims for Pandemic Virus- Review your policy or contact a Third-party adjustor to see if you have a pandemic rider on your policy. You may call our office for more information if you are unsure.
U.S. Chamber of Commerce
- Small Business Development Center: COVID-19 Small Business Resources
- Forbes: List Of Coronavirus Small Business Relief Programs (updated continually, state and local included)
- Facebook: Small Business Grants Program (offering $100M in cash grants and ad credits)
- Finder.com: Where to find free or low-interest loans for small businesses affected by the coronavirus
- Support Local (USA Today): Buy gift cards to support local businesses struggling during this time – and encourage others to do the same!
- 35 questions for coronavirus planning at your business
- Is a Remote Work Option Right for Your Business?
As many people are being forced to work remotely during the COVID-19 outbreak, CountingWorks explores some of the benefits of these policies for your business and your employees (at any time)