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COVID-19 Resources

BUSINESS RESOURCES

 

TAX FILINGS/DEADLINE CHANGES

  • City filings and tax payments deferred:

INDIVIDUAL RESOURCES

 

NON PROFIT/TAX EXEMPT RESOURCES

 

TAX FILINGS/DEADLINES UNCHANGED

 

OTHER RESOURCES


 

ALERT: PRESIDENT TRUMP SIGNS $2.2 TRILLION CARES ACT

On March 27, 2020 President Trump signed the Coronavirus Aid, Relief and Economic Security Act (CARES ACT) unanimously approved by Congress. Click here  for a CCH summary of the individual and business relief and other provisions of the CARES ACT.  It builds upon earlier versions of the CARES Act and is intended to be a third round of federal government support in the wake of the coronavirus public health crisis and associated economic fallout. Click here for the employer paid leave requirements of the Families First Coronavirus Response Act signed into law on March 18, 2020.

ALERT: TAX DAY NOW JULY 15: TREASURY, IRS EXTEND FILING DEADLINE AND FEDERAL TAX PAYMENTS REGARDLESS OF AMOUNT OWED

On 3/21/20 IRS and Treasury Department anncounced that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.  Taxpayers can also defer federal income tax payments due on April 15, 2020 to July 15, 2020, without penalties and interests, regardless of the amount owed.  This deferment applies to all taxpayers, including individuals, trusts and estates, corporate and other non-corporate tax filers as well as those who pay self-employment tax.  The IRS also urges taxpayers who are due a refund to file as soon as possible.  Most tax refunds are still being issues within 21 days.  Read Notice 2020-18 (which supersedes Notice 17) and  Information Release 2020-58  The  WSJ states that it's unclear whether taxpayers have up to July 15th to contribute to their IRA, Roth IRA, or HSA - "the IRS's guideance implies this, but the agency hasn't yet made it."  Late on 3/27/20 the IRS added gift and generation-skipping transfer (GST) tax returns Form 709 to the list of federal taxes and tax returns that have had their April 15 deadlines postponed to July 16 due to the ongoing coronavirus pandemic.  Read Notice 2020-20.

ALERT: WA DOR 2020 NOVEL CORONAVIRUS OUTBREAK (COVID-19) UPDATE

WA DOR will work with businesses that cannot file or pay their taxes on time due to the COVID-19 outbreak. For more information, click here  DOR

ALERT: CITY OF SEATTLE TAX FILING EXTENSION FOR SMALL BUSINESSES

As part of Maryor Durkan's anncouncment of an internal recovery package to ease the financial impact of the COVID-19 outbeak, the City of Seattle is offering relief to small businesses by extending the 1st and 2nd Quarter B&) tax filing and payment deadline until later this year.  The guidelines for tax filing extensions can be found by clicking here.

ALERT- KING COUNTY REAL ESTATE TAXES DEFERRED TO JUNE 1, 2020

On 3/30/2020, King County announced that individuals and commercial taxpayers who do not pay property taxes through a mortgage company or a bank may pay their property taxes on 6/1/2020 instead of the usual date of 4/30/2020.  More information can be found on the King County website here.  For Seattle Times commentary click here

 

ALERT: AICPA STATE TAX FILING GUIDANCE FOR CORONA VIRUS 

 

Please check the American Institute of Certified Public Accountants (AICPA)  list of state tax filing developments in light of Coronavirus here AICPA.

 

ALERT: WASHINGTON COUNTIES NOW ELIGIBLE FOR DISASTER LOANDS FROM THE U.S. SMALL BUSINESS ADMINISTRATION

 

Small businesses in many Washington counties are now eligible to apply for low‑interest U.S. Small Business Administration (SBA) Economic Injury Disaster Loans to offset economic losses because of reduced revenues caused by the impact of the COVID-19 pandemic.  The SBA launched www.sba.gov/coronavirus to provide information about resources small businesses can access now to navigate their business through the COVID-19 pandemic. This includes financing through SBA Loan Guarantee Program – working capital, microloans, express loans and lines of credit – and counseling services through the SBA Resource Partner Network to help businesses navigate preparedness plans

ALERT: LAW FIRM ON TAX TRAPS AND OPPORTUNITIES FROM EMPLOYERS REQUIRING EMPLOYEES TO WORK FROM HOME

Following the advice from the Centers for Disease Control and Prevention, employers are increasingly encouraging or requiring that employees work from home. This is an important strategy for combating the coronavirus (COVID-19) and slowing its spread. It also creates both potential traps for the unwary and opportunities for a business located in one state with employees who reside in another state. Read Lane Powell commentary about the potential traps and benefits