As the situation with COVID-19 continues to develop, Gene Bell & Associates' priority is always the health and well-being of our staff and clients. Our sincere hope is that you and your loved ones are staying safe and healthy. Make sure you stay informed by visiting the CDC website regularly.
We understand that many people, their families, and their businesses have been directly impacted and are coping with the uncertainty of what comes next. Please check our COVID-19 Resources page regularly as we will continue to update it as new information becomes available. Below are a few of those resources we believe may help you at this time.
Financial Assistance for Small Business Owners
Now that the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) has been enacted, your business may be eligible for loans and advances designed to keep you in business. Additionally, President Trump’s national emergency declaration on March 13th triggered tax code Section 139, which allows employers to exclude disaster assistance payments from employee’s income. Click herefor eligibility and application information on Economic Injury Disaster Loans and Paycheck Protection Program Loans, as well as how tax code Section 139 can help you assist your employees.
Economic Impact Payments
Authorized by the CARES Act, the IRS will calculate and automatically send economic impact payments to most eligible individuals; however some may have to provide additional information to the IRS to get their payments. Click herefor what you need to know about economic impact payments, and click here for information about the IRS’s Get My Payment tool, which lets you check on your economic impact payment date and update direct deposit information.
Gene Bell & Associates Office Update
The individual tax filing deadline has been extended until July 15th, and individuals will also be able to postpone 2020 estimated tax payments until October 15th. However, based on the guidelines of the WHO, the CDC, and state and local authorities, our office is currently closed to in-office visits, which means we have had to adapt our workflow to accommodate processing returns during this time. Click herefor information about the extended tax filing deadline, how to submit documents while our office is closed to in-person meetings, and more.