We are here to help, in any way we can. We will continue to update this website with the latest news regarding the new Economic Stimulus package, Families First Coronavirus Act, extended tax filing and payment deadlines, economic grant activity, SBA loans, unemployment updates, and all COVID-19 related relief and information as we partner to survive this disaster together. We will post information and resources to this site. If you have a question and cannot find an answer here, contact us and we will find that answer for you. That’s our promise to you.

We hope for a quick recovery and for a return to some normalcy.

Register now for our upcoming webinar on PPP Forgiveness

Brinker Simpson & Company, LLC will host a webinar November 5th to provide an update on PPP Forgiveness to provide the most up to date information and give you an opportunity to get your questions answered.

The details and registration link are below.

When: November 5, 2020 12:00 PM Eastern Time (US and Canada)

TOPIC:
PPP – Update and Forgiveness 

AGENDA

  • PPP – History & Overview
  • PPP – Forgiveness
    • What we know
    • What we hope to know
    • What our banking friends are telling us
    • EIDL impact
    • Congressional action
  • Tax impact and uncertainty
  • Q & A

Register in advance for this webinar:

CLICK HERE TO REGISTER 

If you would like to submit a question in advance, there is a field to do so on the registration page.… Read More

Delco Strong Round 3 – Guidelines now available

The Delaware County Council has designated funding for a third round of the Delco Strong grant program.  The program is funded through CARES Act dollars (Coronavirus Aid, Relief, and Economic Security Act signed into law by President Trump on March 27, 2020) allocated to the county to help sustain the economic challenges presented by the COVID-19 pandemic.

Applications will be accepted beginning 5am  November 2 and ending at 5pm on November 13th.

The below guidelines for applying for the program can be found HERE:

Delco Strong 3
Small Business Support Grant Program » Program Guidelines

Application Period

5:00am Monday, November 2, 2020 through 5:00pm Friday,  November 6, 2020.Read More

IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers

The Internal Revenue Service (IRS) has extended the deadline to register for an Economic Impact Payment to November 21, 2020 from October 15.  The IRS announced the extended deadline through a press release October 5, 2020.  The IRS announcement can be read in full HERE.

The IRS urges people who don’t typically file a tax return – and haven’t received an Economic Impact Payment – to register as quickly as possible using the Non-Filers: Enter Info Here tool on IRS.gov. The tool will not be available after November 21.

This additional time into November is solely for those who have not received their EIP and don’t normally file a tax return.Read More

1099-C Not Required For PPP Loan Forgiveness

The Internal Revenue Service announced yesterday that lenders are not required to and should not file a 1099-C information return with the IRS or payee statement to the eligible recipient when all or a portion of a Paycheck Protection Program loan is forgiven under section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES).

Generally, entities are required to file the 1099-C information return with the IRS when they discharge at least $600 of a borrower’s indebtedness and to furnish a payee statement to the borrower.

IRS Announcement 2020-12 is intended to prevent erroneous underreporting notices that may be triggered by the filing of the information returns and confusion caused by the furnishing of payee statements to eligible recipients.… Read More

Department of Labor issues new regulations implementing FFCRA paid leave after August court decision

We previously wrote about the August 3, 2020 U.S. District Court for the Southern District of New York (the “District Court”) struck down four provisions of the Department of Labor’s (“DOL”) regulations interpreting employee leave eligibility and entitlement under the Families First Coronavirus Response Act and other FFCRA paid leave updates.

On September 11, 2020 the DOL issued revised regulations as a result of that court decision.  The Revised Final Rule became effective September 16, 2020.

Important provisions in that Final Rule are below:

  1. DOL reaffirmed “work-availability” requirement that paid sick leave and expanded family medical leave are only available if an employer has work for the employee at the time of the leave.
Read More

Indoor dining resumes in Philadelphia at 25% capacity

Beginning September 8,  indoor dining resumed in the city of Philadelphia under specific restrictions that are largely consistent with indoor dining restrictions statewide. The City’s new indoor dining restrictions include, but are not limited to:

  • Restaurants cannot be filled to more than 25 percent capacity.
  • No more than four diners per table.
  • Tables must be arranged so that diners at separate tables are at least six feet apart or have an impermeable barrier between them.
  • Servers must wear both masks and face shields for additional protection.
  • No bar service. Alcohol can be served only for on-premises consumption when in the same transaction as a meal.
Read More

Governor Wolf Announces Restaurants May Increase Indoor Occupancy to 50 Percent Starting September 21

A press released from Governor Tom Wolf of Pennsylvania announced September 8th, 2020 that restaurants may increase their indoor occupancy to 50 percent of occupancy (based on fire code) beginning September 21, 2020.   The press release can be read in full HERE.

Also beginning September 21, 2020, restaurants that serve alcohol will be required to end alcohol sales at 10:00 PM.

The release also provided information about the establishment of a Pennsylvania government database (Open & Certified Pennsylvania) where restaurant owners planning to expand to 50% of occupancy must self-certify they are strictly complying with public health safety guidelines and orders.… Read More

Pennsylvania’s ​Lost Wages Assistance (LWA) – extra $300 unemployment benefit now available

The Pennsylvania Office of Unemployment Compensation provided information  for unemployed Pennsylvanians eligible for an extra $300 unemployment benefit made available from the federal government to support Americans who became unemployed as a result of the COVID-19 related virus mitigation measures.

The below information can also be accessed HERE.

​Lost Wages Assistance Program

The federal Lost Wages Assistance (LWA) Program gives Pennsylvania $1.5 billion to provide an extra $300 a week in additional funds to individuals that are unemployed (or partially unemployed) because of COVID-19.

LWA Program Eligibility

  • You must be fully or partially unemployed due to COVID-19, and
  • You must have a weekly benefit rate + dependent allowance totaling $100 or more, and
  • You must receive a payment each week from one of the qualifying programs:
    • Unemployment Compensation
    • Pandemic Emergency Unemployment Compensation
    • Pandemic Unemployment Assistance
    • State Extended Benefits
    • Shared-Work
    • Trade Readjustment Allowances
You will certify only ONCE for the LWA program.
Read More

The New Charitable Deduction for Non-itemizers

Many charitable organizations are now experiencing a decline in giving as the U.S. finds itself grappling with the COVID health crisis.  In response, Congress included a provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, intended to provide some relief for charitable organizations. Section 2204 of the CARES Act permits eligible individuals who do not itemize deductions to deduct $300 of qualified charitable contributions as an “above-the-line” deduction, i.e., as an adjustment in determining adjusted gross income (AGI), for tax years beginning in 2020.

QUALIFYING FOR THE DEDUCTION

For tax years beginning in 2020, eligible individuals may deduct up to $300 in qualified charitable contributions made to qualified charitable organizations.… Read More

IRS Addresses Temporary Deviation from Handwritten Signature Requirement for Limited List of Tax Forms

On August 27, 2020, the Department of Treasury and Internal Revenue Service issued a memorandum addressing Temporary Deviation from Handwritten Signature Requirement for Limited List of Tax Forms.   Here is the memo content:

As part of our response to the COVID-19 situation, we have taken steps to protect employees, taxpayers and their representatives by minimizing the need for in-person contact. Taxpayer representatives have expressed concerns with securing handwritten signatures during these times for forms that are required to be filed or maintained on paper. To alleviate these concerns while promoting timely filing, we are implementing a temporary deviation with this memorandum that allows taxpayers and representatives to use electronic or digital signatures* when signing the following forms that currently require a handwritten signature:

• Form 3115, Application for Change in Accounting Method;

• Form 8832, Entity Classification Election;

• Form 8802, Application for U.S.… Read More

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