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Hi everyone!!!
I hope this email finds you all doing well and staying safe!!!
RECOVERY REBATES FOR INDIVIDUALS:
The IRS announced that they expect to issue these payments via direct deposit starting April 13th.
The IRS portal is now live for non-filers to enter their payment information in order to receive the Economic Stimulus Payment:
CLICK HERE
If you or someone you know you are not required file taxes, use the "Non-Filers: Enter Your Payment Info Here" application to provide simple information so you can get your payment.
You should use this application if:
- You did not file a 2018 or 2019 federal income tax return because your gross income was under $12,200 ($24,400 for married couples). This includes people who had no income. Or
- You weren't required to file a 2018 or 2019 federal income tax return for other reasons
If you receive these benefits, we already have your information and you will receive $1,200. Do
not use this application if you receive:
- Social Security retirement benefits
- Social Security Disability Insurance benefits
- Railroad Retirement and Survivor Benefits
Special note: People in these groups who have qualifying children under age 17 can use this application to claim the $500 payment per child.
They are in the process of updating their website to enable individuals to send them your direct deposit information. I will send and update when this link is available.
PAYCHECK PROTECTION PROGRAM
The PPP program is now available for self-employed and independent contractors. If this applies to you, you will need to apply through your bank.
EIDL UPDATE
There has been additional contradictions with the EIDL Advances.
Per the SBA call this this morning, the EIDL Advance is up to $10,000 - $1,000 per employee.
We have had clients that have received the full $10,000 with fewer employees so this remains to be unclear.
We are here to support you and am grateful for the opportunity to assist you with your business and personal tax and accounting needs.
Have a wonderful weekend!!!
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