Coronavirus Resources

Coronavirus Resources

(updated 5/19/2020)


Our Bellingham and Lynden Offices are Open to Guests
Our Bellingham and Lynden offices will resume normal office hours. Our Burlington office will reopen for pre-scheduled appointments only. We are still accessible through virtual communication methods and will continue to make our secure drop boxes available for contactless delivery of information.

To contact us, please call our main phone line, 360.734.4280, or email contact@larsongross.com

 

U.S. Federal Tax Deadline Pushed to July 15
The Internal Revenue Service (IRS) has moved the national income tax filing day to July 15 in response to the COVID-19 pandemic. This applies to nearly all filers with an original tax filing between April 1 2020 and July 15 2020. Additionally, 2019 calendar year tax return income tax payment with the return filing as well as 2020 quarter one and quarter two estimated income tax payments are now both due to the IRS on July 15.

 

CARES Act: Federal Stimulus Package Update
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act – a historic $2 trillion stimulus package to support individuals and small businesses facing challenges from the COVID-19 (Coronavirus) pandemic. To learn more about the key provisions, read our Key Provisions for Businesses and Key Provisions for Individuals handouts.

 

Paycheck Protection Program
Potentially one of the most significant provisions in the CARES Act, the Paycheck Protection Program (PPP) is a nearly $350-billion program intended to provide American small businesses with eight weeks of cash-flow assistance through 100 percent federally guaranteed loans.

More information on the Payroll Protection Program

Payroll Protection Program Application

You’ve Received PPP Funding – Now What?

PPP Loan Forgiveness Application Guidance

Side-by-side comparison of the EIDL and PPP

Relief Programs Chart for Employers and Employees

 

Working Capital Support for Businesses
Many businesses have been significantly impacted by the COVID-19 (Coronavirus) outbreak, and many more anticipate future disruption to their businesses as a result of the efforts to contain and mitigate the virus. There are, however, resources available to support raising working capital to pay bills, employees and loan payments.

Working Capital Support for Businesses

Cash Flow Relief Chart

 

Families First Coronavirus Response Act
The Families First Coronavirus Response Act (Families First Act) was signed into law on March 18, 2020. There are two bills within the Act, Emergency Paid Sick Leave and Emergency Paid Family Leave, that provide relief to employees who are unable to work because of certain circumstances relating to the Coronavirus pandemic.

Families First Coronavirus Response Act Information

Required Flyer Employers Must Post in Workplaces

 

State Tax Updates
Many state tax departments are also relaxing tax filing and payment deadlines. Although these updates are too numerous to list here, please refer to our resources below for links to relevant state tax guidance relating to the Coronavirus.

 

External Resources

IRS Coronavirus Tax Relief Page

Washington State Employment Security Department Coronavirus Page

Washington State Department of Revenue Coronavirus Outbreak Update

Washington Governor’s Office COVID-19 Resources

ESD Employer and Employee Benefits Comparison

Families First Coronavirus Response Act Required Posting

Paycheck Protection Program Handout – US Chamber of Commerce

Main Street Lending Program – US Chamber of Commerce

Paycheck Protection Program Loan Application

Planning for a Coronavirus Pandemic Resource Guide

AICPA State Tax Filing Guidance for Coronavirus Pandemic

Canada’s Economic Response Plan

Centers for Disease Control and Prevention