Tag: COVID-19
IRS extends more tax deadlines to cover 6/15 estimates, 2016 amended 1040s, and other returns
To help taxpayers amid the COVID-19 pandemic, the Department of Treasury and the Internal Revenue Service extended additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and...
CMS Approves Accelerated/Advance Payment Program for Medicare Providers
The Centers for Medicare & Medicaid Services (CMS) has delivered near $34 billion in the past week to the healthcare providers as part of an expansion of the Accelerated and Advance Payment Program, to ensure providers and suppliers have the...
Guest Author Dan Bolda: New legislative changes to 401(k) provisions offers COVID-19 relief
The $2.2 trillion Coronavirus Aid, Relief, and Economic Security Act (CARES Act) includes a host of provisions providing relief for both individuals and businesses with respect to retirement plans, including expanded availability of hardship withdrawals and plan loans. Plan sponsors must...
ShindelRock Partner Maria Montie discusses pandemic tax and financial advice for businesses and individuals on WJR’s Paul W. Smith Show
On Friday, April 3, ShindelRock partner Maria Montie was a guest on 760 WJR-AM radio's Paul W. Smith Show. Listen here as she details steps businesses and individuals should take in response to the pandemic stimulus packages and relief programs recently...
Temporary leave vs. termination during the pandemic
With all of the uncertainty surrounding COVID-19 relief programs, the Michigan Department of Labor and Economic Opportunity (MiDLEO) is urging employers to “place employees on temporary leave and advise the worker that they expect to have work available within 120 days,...
Unemployment Compensation Provisions in the Take Responsibility for Workers and Families Act
The new $2 trillion CARES Act contains provisions related to unemployment compensation of which many small business owners may choose to take advantage: Federal - Enhanced Unemployment Assistance Under the CARES Act - Supplemental Federal Pandemic Unemployment Compensation: The program provides...
Our CPAs’ advice for small and scaling business owners weathering the pandemic
In times of economic turbulence, a certified public accountant (CPA) can help small and scaling business owners prepare financially for what's ahead. At ShindelRock, our CPAs have been monitoring the near-hourly changes the COVID-19 pandemic has brought to the tax,...
The CARES Act brings help for both individuals and businesses amid coronavirus pandemic
The recently passed Coronavirus Aid, Relief and Economic Security (CARES) Act builds upon earlier versions of the CARES Act and is intended to be a third round of federal government support in the wake of the coronavirus public health crisis, succeeding...
Michigan extends state income tax filing deadline to July 15
Michigan Gov. Gretchen Whitmer announced that the deadline for filing state income tax returns is being moved from April 15 to July 15, following the IRS extension that similarly extended the due date for federal income tax payments amid the...
Paid Sick Leave and Paid Family Leave due to the COVID-19 virus explained
What: Paid Sick Leave and Paid Family Leave due to the COVID-19 virus Effective: Starting April 2, 2020 and expires December 31, 2020 Affects: Any employer with less than 500 employees. Exception: Employers with less than 50 employees may later...