SBA Loan Programs Comparison Chart EIDL vs. PPP
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Apr 3 2020
Mar 31 2020
Newburg Update for 03.31.20
*UPDATE - Stimulus Check Information and Calculator Link (Updated 3/31/20) Update from the IRS Newswire on the Economic Impact Payments...What you need to know. The Treasury Department and the Internal Revenue Service announced that distribution of economic impact payments will begin in the next three weeks and will be distributed [...]
Mar 31 2020
Newburg Update for 3/30/2020
*UPDATE - SBA COVID-19 EIDL Disaster Loan High-Level Recap (Updated 3/30/20) SBA Economic Injury Disaster Loan (EIDL) loans (Apply direct thru SBA website): This program can provide up to $2 million of financial assistance at low interest rates (2.75% - 3.75%) along with deferral options and favorable amortization periods [...]
Mar 28 2020
Newburg Update – 03.28.2020
House Passes and President Signs CARES Act Late Friday afternoon, the House passed and the President signed into law the CARES Act, a $2 trillion stimulus package that provides relief to individuals and businesses struggling as a result of the COVID-19 pandemic. For the full Act in all its [...]
Mar 26 2020
SBA Loans and Forgiveness under the new Stimulus Program (CARES)
Stimulus SBA Loan and Forgiveness Program ("Paycheck Protection Program") As part of the new stimulus package making its way to the House and President for signature this Friday, $349 billion is earmarked to assist small businesses with loans. The loans will be administered through the SBA 7a loan program via [...]
Mar 26 2020
NEWBURG Update for 03.26.2020
National News The White House and Senate leaders agreed on the highly anticipated $2 trillion dollar massive stimulus package Coronavirus Aid, Relief and Economic Security (CARES). The proposed legislation will make its way through the Senate and move along for House approval. The President anticipates signing by end of this [...]
Mar 25 2020
Employment Options for Employers in Response to COVID-19
Many clients have been asking the best way to handle changes in employees' (employment) status, with respect to the impact of the COVID-19 pandemic. Below is an outline, from a Human Resources perspective with regards to what your options and limitations, as an employer, are Furlough A furlough involves [...]
Mar 20 2020
Federal Tax Filing Deadline Extended to 7-15-2020 & Why We Recommend You NOT Delay
The Treasury announced today that they are extending the Tax Filing Deadline from April 15th to July 15, 2020. This follows the announcement earlier in the week, that tax payments were being deferred by 90-days, without interest or penalties. This latest change now sensibly aligns tax payments with the [...]
Mar 19 2020
Update to Treasury Deadline and Clarification on Paid Family Leave
Update on the Federal 90-Day Waiver of Penalties and Interest on Tax Payments Back on March 17, 2020 Treasury Secretary Mnuchin announced a 90-day grace period on the payment of individual and corporate Federal taxes, normally due April 15th. Individuals and corporations have until July 15th without being assessed [...]
Mar 19 2020
MA Announces Small Business Administrative Tax Relief
Small Business Relief: Yesterday the Baker-Polito Administration announced administrative tax relief measures for small local businesses which have been impacted by the ongoing COVID-19 outbreak, especially in the restaurant and hospitality sectors. This tax relief includes postponing the collection of regular sales tax, meals tax, and room occupancy taxes [...]