Office – Our office is closed. We have transitioned to a home-based remote work environment and are still working hard to serve our clients. You can reach your accountant directly via telephone and email. For more information click here. If you need assistance please call 253-566-7070.
Deadline Extended - To provide relief during the Coronavirus emergency, the Secretary of the Treasury has extended the deadline for filing a Federal income tax return or making a Federal income tax payment from April 15 to July 15. The extension of Federal income tax payments includes tax due on 2019 income tax returns and first quarter Federal estimated income tax payments for 2020. At this time, second quarter Federal estimated income tax payments for 2020 are still due June 15.
CARES Act - On March 27, the President signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). For more information on the provisions contained in the Act please click here.
Paid Sick & Family Leave - Employers, businesses and tax-exempt organizations, with fewer than 500 employees are required to provide emergency paid sick leave and emergency paid family and medical leave under the Act. For more information on the Paid Sick & Family Leave Act please click here.
SBA Loan - A large part of the Act’s financial aid is administered through Small Business Administration (“SBA”) Loans. Many businesses and non-profits with not more than 500 employees (subject to certain limitations) can qualify for these loans. The loans, which are issued by participating banks and other qualified lenders and guaranteed by the SBA, can equal the lesser of $10 million or 2.5 times an employer’s 2019 monthly annual payroll. All or a portion of the loan amounts can be forgiven by the government if the employer maintains both the number of employees as well as their salaries. There is a waiver of SBA fees for one year, but interest will be accrued. For more information SBA.