COVID-19 ACCOUNTING, AUDIT & TAX UPDATES
This resource page is set up to provide useful information relating to financial matters as a result of COVID-19. The information provided on this page is compiled from a variety of resources including our team of experts, local government agencies, and more. At Grossman St. Amour CPAs, we are continuing to work business as usual in all respects, focusing on clients and their tax, audit and accounting matters. Our entire staff is back in the office with capability to work remotely, and are accessible to you via in-person meeting, or email and office or cell phone. We are carefully monitoring legislative changes and market conditions brought on by the COVID-19 pandemic in order to help our clients make the best decisions for their future. Here are the most recent updates.
Treasury, IRS Unveil Online Application to Help with Economic Impact Payments
Working with the Treasury Department, the Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information. With an initial round of more than 80 [...]
Stay Afloat with Tax-Favored Coronavirus-Related Distributions
Contact our tax advisors to help you take advantage of relief measures that will help you get through the COVID-19 crisis. The coronavirus (COVID-19) pandemic is causing economic hardship for many people and businesses in the United States. On March 27, [...]
IRS Extends More Tax Deadlines
The IRS issued Notice 2020-23 late yesterday that has extended more tax deadlines to cover individuals, estates, corporations and others. This extension includes a variety of tax form filings and payment obligations that are due between April 1, 2020 and July [...]
A Great Resource from Paychex: Businesses Can Get Loans to Retain Employees During COVID-19
https://www.paychex.com/support/coronavirus-legislation
Information Regarding Tax Deadlines
As you know, we here at Grossman St. Amour have all been working from our home offices since the middle of March. Although our logistics have changed, we continue to complete your tax returns as we have in the past. We [...]
Small Business Funding Application Available
The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website. We strongly recommend that companies immediately: Review all four documents listed under the “Assistance for Small Businesses” section; Review the application and [...]
IMPORTANT LINKS TO ADDITIONAL UNEMPLOYMENT BENEFITS IN THE CORONAVIRUS CARES ACT
What you need to know and do about the CARES Act - Decision tree to determine your eligibility and links to where to apply for benefits: NYS Department of Labor - What You Need to Know and Do About the CARES [...]
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) Is Enacted Into Law
This information is a limited summary of some of the major provisions of this new law. Obviously it is complex and extensive. If you have any questions, please contact our office to further expand on how we may be able to [...]
U.S. Department of Labor – Families First Coronavirus Response Act: Employee Paid Leave Rights Summary
The Families First Coronavirus Response Act (FFCRA or Act) requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19. The Department of Labor’s (Department) Wage and Hour Division (WHD) [...]
How to Manage COVID-19 Related Business Risks
The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain and [...]