COVID-19 Resource Center

During the COVID-19 crisis, a so-called “stress test” can help reveal blind spots that threaten to disrupt your business. A comprehensive stress test requires the following three steps. This information was accurate as of 8/14/20.

In the COVID-19 era, many parents are hiring nannies and babysitters because their daycare centers and summer camps have closed. This may result in federal “nanny tax” obligations. This information was accurate as of 8/11/20.

If your business was fortunate enough to get a (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax implications. This information was accurate as of 8/10/20.

On August 8, 2020, President Trump signed an executive memorandum that defers an employee’s portion of Social Security and Medicare taxes from September 1 through December 31, 2020. This information was accurate as of 8/11/20.

If your child recently graduated from high school and is heading to college in the next few weeks, besides assembling the essentials, consider having your child “pack” a few estate planning documents that he or she may need at this stage of life. This information was accurate as of 8/06/20.

Although many businesses have had to reduce their workforces because of the COVID-19 pandemic, others are hiring or may start adding employees in the weeks or months ahead. Information was accurate as of 8/05/20.

Regardless of where you are in the implementation process, anticipating the CAMs that will appear in your auditor’s report may be especially challenging given the uncertainty caused by the COVID-19 crisis. This information was accurate as of 8/03/20.

Criminals have descended like locusts on state unemployment insurance agencies, using stolen identities to fraudulently claim both standard benefits. This information was accurate as of 7/27/20.

Timely, relevant financial data is critical to managing a business in today’s unprecedented conditions. Dashboard reports provide a real-time snapshot of how your business is performing. This information was accurate as of 7/24/20.

The IRS recently provided guidance to employers on Form W-2 reporting of qualified sick leave wages and qualified family leave wages. These are the wages paid to employees under the Families First Coronavirus Response Act. This information was accurate as of 7/24/20.

Can day-to-day life return to some semblance of normality without a dangerous uptick in infections? Business owners must continue moving forward as cautiously and prudently as possible. This information was accurate as of 7/23/20.

During the COVID-19 pandemic, many small businesses are strapped for cash. They may find it beneficial to barter for goods and services instead of paying cash for them. This information was accurate as of 7/20/20.

Unlike some legitimate businesses, organized crime enterprises can be expected to weather the current COVID-19 crisis. In fact, with millions of Americans now working from home, organized crime-related cyber fraud — including phishing schemes and ransomware attacks — has grown exponentially. This information was accurate as of 7/20/20.

The COVID-19 pandemic and resulting economic fallout have spurred layoffs and furloughs for many employers. As the months pass, organizations that have retained employees face another dilemma: How should we handle compensation changes? This information was accurate as of 7/17/20.

The sudden shutdown of the economy in March because of the COVID-19 pandemic forced many businesses to rely more heavily on technology. Some companies fared better than others. This information was accurate as of 7/08/20.

The IRS recently announced special tax relief for leave-based donation programs set up by employers to aid those directly affected by the COVID-19 pandemic. This information was accurate as of 7/06/20.

The COVID-19 crisis is affecting not only the way many businesses operate, but also how they assess productivity. How can you tell whether you’re getting enough done when so much has changed? This information was accurate as of 7/01/20.

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take so-called “Coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other retirement plans. This information was accurate as of 7/01/20.

The IRS and the U.S. Treasury had disbursed 160.4 million Economic Impact Payments (EIPs) as of May 31, 2020, according to a new report. These are the payments being sent to eligible individuals in response to the economic threats caused by COVID-19. This information was accurate as of 6/30/20.

Just last week, the Small Business Administration (SBA) announced that it has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program to eligible applicants still struggling with the economic impact of the COVID-19 pandemic. This information was accurate as of 6/24/20.

As you may have heard, the CARES Act allows “qualified” people to take certain “Coronavirus-related distributions” from their retirement plans without paying tax. This information was accurate as of 6/23/20.