Tag: COVID-19
Pandemic relief programs for businesses
**Federal and state programs created in response to the COVID-19 pandemic are changing fast, and updates will be made here as more information is made available and are current as of the publishing date.** The ShindelRock tax professionals have been...
Medical Practice Owners and Healthcare Providers Eligible for CARES Act Relief Through HHS
Medical practice owners and healthcare providers are eligible for some of the $50 billion CARES Act relief funding through the Department of Health and Human Services (HHS). All relief payments are being made according to tax identification number (TIN). For...
Three things business owners should do after receiving a Paycheck Protection Program (PPP) Loan
The $349 billion Paycheck Protection Program, or PPP, is expected to receive its second tranche of new funding later this week. This should mean more small businesses, many of whom already have an application in queue with their business banking...
New pandemic relief lending program for larger businesses: the Main Street New Loan facility
The Main Street Lending Program, a newly created program by the Federal Reserve, will enhance support for small and mid-sized businesses that were in good financial standing before the COVID-19 crisis by offering 4-year loans to companies employing up to...
Michigan Department of Treasury says business taxpayers can pay monthly, quarterly sales, use and withholding tax in May
Most Michigan business taxpayers scheduled to make sales, use and withholding tax payments for March and April, or for the first quarter of 2020, can postpone filing and payment requirements until May 20, 2020. The state Department of Treasury will...
Stimulus checks are coming, including for those who don’t typically need to file tax returns
The recently-passed CARES Act gives the IRS authority to automatically send the Economic Impact Payment to Americans who qualify at certain income thresholds. Most will be evaluated as meeting the income criteria* as evidenced by their 2018 or 2019 income...
Other tax relief provisions of the CARES Act
There has been much discussion concerning the provisions for loan relief and payroll tax credits for businesses and the economic stimulus checks for individuals. But there are several other provisions geared towards individual and businesses taxes: INDIVIDUAL PROVISIONS Charitable deduction...
Self-employed, other newly eligible Michigan workers can apply for unemployment, $600 federal payments also begin
Michigan’s self-employed workers, gig workers, 1099-independent contractors and low-wage workers affected by COVID-19 can apply for federal Pandemic Unemployment Assistance (PUA) beginning Monday, April 13 at 8AM. Under the federal CARES Act, workers on state unemployment have already begun receiving...
Non-tax filers in 2018 or 2019 who do not receive Social Security benefits must now register to receive federal stimulus checks
Economic Impact Payments, also called COVID-19 stimulus checks, will soon be distributed by the federal [caption id="attachment_6237" align="alignright" width="261"] .[/caption] government to all Americans according to tiered income bracket qualifications. The stimulus payments are automatic for most taxpayers; no further...
CARES Act Provider Relief Fund brings help to physicians and other healthcare providers during COVID-19 pandemic
As part of the $2 trillion CARES Act, $30 billion is being distributed immediately to eligible healthcare providers throughout the American healthcare system. These are payments, not loans, to healthcare providers, and will not need to be repaid. Who is...