SBA 504 Existing Borrowers Eligible for Deferments
The SBA strongly encouraged its lending partners to offer deferment relief to existing borrowers that have been adversely affected by COVID-19-related economic disruptions.
Insights
Stimulus Aid Package | Individuals and Businesses
Congress is proposing a stimulus bill, which is expected to become law in the next few days. Here are some of the major provisions and potential impacts.
SBA Lending | Economic Injury Disaster Loan Program
Governor Ducey declared most Arizona counties, including Maricopa, a disaster area. This means business owners can apply for low-interest loans online through the U.S. Small Business Administration (SBA) Disaster Loan Application Portal.
Arizona Tax Deadline Extended to July 15, 2020
On March 20, 2020, the Arizona Department of Revenue (ADOR) announced it moved the deadline for filing and paying state income taxes from April 15 to July 15, 2020 following direction by Governor Doug Ducey.
Families First Coronavirus Response Act
The Families First Coronavirus Response Act (H.R. 6201) is now law, and attorneys, accountants, and other professionals are reviewing the main provisions about paid family and sick leave.
Penalty and Interest Waiver
On March 17, 2020, Treasury Secretary Steven Mnuchin announced that, while the due date for filing 2019 tax returns would not be postponed, the IRS would waive penalties and interest on tax payments for 90 days. The waiver only applies to individual taxpayers owing up to $1 million in taxes and corporations owing up to $10 million in taxes.
5 Future Technology Trends
Technology has profoundly changed how business works. Its influence is everywhere, from smart homes to business operations. The future will only continue to add new ways technology is used.
New Form I-9 – Employment Eligibility Verification
As of January 31, 2020, employers should use the new Form I-9, Employment Eligibility Verification, released on October 21, 2019. The form’s version is located at the bottom left corner, with the expiration date of October 31, 2022 in the top left corner.
Coronavirus and Business Management
There are many unknowns about the coronavirus. With any health crisis, business owners and managers should know what their responsibilities are regarding employees.
IRS Offers Identity Protection PIN
The IRS is launching a new identity protection program that prevents anyone who has stolen your Social Security number from using it to file a fraudulent tax return. How does it work? Are you eligible for the program?
2019 Arizona Key Tax Changes
The Arizona Department of Revenue (ADOR) issued several key reminders for 2019 tax year filings. The individual income tax filing season for state and federal returns opens on Monday, January 27, 2020.
Stephen J. Rodis, CPA | Arizona District Export Council Appointment
Congratulations to Stephen J. Rodis, CPA on his three year appointment to the Arizona District Export Council by the U.S. Secretary of Commerce. As a member, Steve will engage and support U.S. small and medium-sized businesses that focus on U.S. exporting.