IRS unveils new People First Initiative; temporarily adjusts, suspends key compliance programs

IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance programs   IR-2020-59, March 25, 2020   WASHINGTON – To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing … Read More

NEW FMLA / Paid Sick Leave Assistance

Leaves of Absence have become more complicated to track and administer than ever before. In a recent SHRM study, 40% of HR professionals reported that they approved requests that they did not believe were legitimate due to administration deadlines and validity of documentation. According to the EEOC, the average cost of defending an FMLA lawsuit is $78,000. With the expansion … Read More

SBA DISASTER LOAN ASSISTANCE

SBA DISASTER LOAN ASSISTANCE https://disasterloan.sba.gov/ela/Information/Index Federal Disaster Loans for Businesses, Private Nonprofits, Homeowners, and Renters Disaster Loan Information SBA provides low-interest disaster loans to businesses of all sizes, private non-profit organizations, homeowners, and renters. SBA disaster loans can be used to repair or replace the following items damaged or destroyed in a declared disaster: real estate, personal property, machinery and … Read More

Florida Disaster Loan Assistance

FLORIDA DISASTER LOAN ELIGIBILITY & LOAN PROCESS Eligible Businesses Be a for-profit, privately held small business that maintains a place of business in the state of Florida. Be located in a designated disaster area. Eligible Florida counties per Executive Order 20-52 are: All counties statewide. Be established prior to March 9, 2020, the date of the designated disaster. Be able … Read More

HR Crisis Planning

An Employer’s Guide to Frequently Asked Questions about Reductions in Force and Unemployment Compensation Related to COVID-19 Written by Joan M. Vecchioli, Colleen M. Flynn & Rachael L. Wood, Published by Johnson Pope Bokor, Ruppel & Burns, LLP As we continue to advise our clients through these challenging times, we have identified some frequently asked questions relating to reducing hours, … Read More

5 Things you need to look at right now.

5 Things you need to do right now. Get organized Examine your expenses/liability payments and adjust Consider sources of capital that you have access to already Revisit your initial investment account decisions and purposes Last resort: look at adjusting insurance coverages   Get organized Overall, if you’re personal and business finances aren’t organized in a way that you can see … Read More

3.25.20 – INCOME TAX FILING UPDATE 

INCOME TAX UPDATE  Treasury Secretary Steven Mnuchin on Friday said that the deadline for filing tax returns is being moved July 15, after his department earlier this week similarly extended the due date for tax payments amid the coronavirus. More information can be found here: https://www.irs.gov/coronavirus Keep in mind, if you are anticipating a refund you will want to file as soon … Read More

A Guide to PEOs and Employee Leasing

Professional employer organizations (PEOs) are valuable because they take the frustrating corporate tasks out of your hands so you can focus on running your business. Your ability to wear multiple hats – part of what made your business so successful – can become counterproductive as your business grows, draining you of the valuable time and resources you need to keep … Read More