Tag: COVID-19

IRS extends federal income tax filing deadline to July 15

  • March 20, 2020
  • Maria Montie, CPA, MST, CVA, MAFF

Treasury Secretary Steven Mnuchin on Friday said that the deadline for filing tax returns is being moved from April 15 to July 15, after his department earlier this week similarly extended the due date for tax payments amid the coronavirus. The...

MEDC offers Michigan businesses relief with $20 million grant and loan program

The Michigan Small Business Relief Program will provide up to $20 million in support for small businesses negatively impacted by COVID-19. The funding is divided between $10 million in small business grants and $10 million in small business loans to...

Economic Injury Disaster Loan applications are OPEN in Michigan

The Economic Injury Disaster Loan (EIDL) is a low-interest, fixed-rate loan that can provide up to $2 million in assistance for a small business. You can apply directly on the U.S. Small Business Administration's Disaster Loan Website.

Michigan waiving penalties for Sales, Use and Withholding (SUW) taxes due March 20

For Sales, Use and Withholding (SUW) taxes due on March 20, the State of Michigan is waiving penalties and interest for 30 days for late filings and late payments. Payments can be made penalty-free through April 20, 2020. Talk to...

Down market could be right time to convert IRA to Roth IRA

Markets are down, and accordingly so is the value of many IRA accounts.  This decline may be a window of opportunity to convert IRAs into Roth IRAs.  Tax will be due on the value of the IRA converted, but the...

Low-interest SBA loans coming to Michigan small businesses

Small business owners may get relief from economic hardships brought by the COVID-19 from a coalition of economic developers and entrepreneurial support organizations.  The Michigan Economic Development Corp., the state's business attraction and marketing entity, said Tuesday it would work closely...

New 90-day Delay in Tax Payment Deadline Offers Relief to U.S. Taxpayers

  • March 17, 2020
  • Maria Montie, CPA, MST, CVA, MAFF

Treasury Secretary Steven Mnuchin announced that individuals and corporations can delay their tax payments for 90 days due to the coronavirus pandemic. Individuals can defer up to $1 million in payments for 90 days from the April 15 deadline and...

Important Client Update from ShindelRock

  • March 16, 2020
  • Maria Montie, CPA, MST, CVA, MAFF

To our clients and friends: Given the current environment, ShindelRock is taking every precaution possible to ensure the safety and health of our team and our families, as well as those of our clients and colleagues.  Therefore, given the recommendations put...

SCAM Alert: Coronavirus fraudsters add to the anxiety and misery

  • March 16, 2020
  • Maria Montie, CPA, MST, CVA, MAFF

From the Association of Certified Fraud Examiners: Disaster fraud has become so common that many U.S. federal agencies were quick to create websites to address coronavirus-related scams, complete with tips and sharable graphics for users to link to on social media. Some...