The following is not medical, legal, or tax advice and is information shared from the included links.
Special Information and Resources
for the Corona Virus / COVID-19
CDC - www.cdc.gov/nchs/nvss/vsrr/COVID19
https://ncov2019.live
www.trackcorona.live
Please check back for continuing updates - last updated 04/11/2020, 04/16/2020 and 04/24/2020 in red
(SBA changes in grants and rules)
NCISS has also shared a COVID-19 Resource Packet
detailing regulations, laws, and business resources specifically for the PI and Security professions at www.nciss.org/covid-resources
Also see the new NCISS Your Advocate with additional information - https://conta.cc/2X48pHO
Thanks to the Legislative Committees of NCISS and NALI, and state associations, and Associates in Forensic Investigations, for this information! www.privateinvestigations.org/associations
First, we hope you and your families, friends, and co-workers are doing well in physical and mental health, as well as
financially. This virus event is considered an 'outbreak' (as a new strain, one case is considered an outbreak); as it is global, it is considered 'pandemic'. These terms sound alarming – and thus begins physical, mental, and emotional distress in many.
We must all work together to do our part in the circumstances for which we have no control, but can in a personal perspective. With this, we have done extensive research and had many conversations to provide the following information and resources.
As an agency, we have adapted to working remotely and efficiently for over 20 of our 30+ years in business. We are available daily, and with local, state, and national resources – including a large network of thousands of fellow professional investigators – our clients’ needs will always be met.
COVID Resource Packet from NCISS
(specifically prepared for the Investigative and Security professions by the Legislative Committee of the National Council of Investigation & Security Services, and with other association contributions. This link will be automatically updated as of the date shown)
www.nciss.org/covid-resources (NEW as of 03/25/2020)
Please find a packet NCISS has put together on the recent relief legislation. It includes:
- Recent Federal Legislation
- Federal Tax Information
- Federal and State Court Closures
- Reported Process Server Announcements
- Other Relief and Aid
What is the COVID-19?
WebMD
www.webmd.com/lung/coronavirus (click 'View All')
World Health Organization
www.who.int/health-topics/coronavirus
Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV).
-- Coronavirus disease (COVID-19) is a new strain that was discovered in 2019 and has not been previously identified in humans.
-- Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death.
Who is being tested (in Colorado)
Colorado Department of Health & Environment
The state health department gives these groups testing priority:
-- Tier 1: Hospitalized patients, health care workers with symptoms
-- Tier 2: Patients in long-term care facilities or other residential settings, such as homeless shelters or correctional facilities, with symptoms; patients over age 65 with symptoms; patients with underlying conditions with symptoms; first responders with symptoms; critical infrastructure workers with symptoms; people with symptoms who work with vulnerable populations or in group residential settings
-- Tier 3: Other individuals with symptoms
Who is at risk?
Colorado Department of Health & Environment
www.colorado.gov/pacific/cdphe/2019-novel-coronavirus
Certain people are at higher risk of getting very sick [every time - not just this time]:
-- Older people (over age 60), especially those over 80 years.
-- People who have chronic medical conditions like heart, lung, or kidney disease, or diabetes.
-- Older people with chronic medical conditions are at greatest risk.
If you have symptoms, stay where you are, isolate yourself from others, and call a health care provider or nurse line before seeking care. Do not fly. Do not use public transportation or ride-shares.
What are the precautions?
It has been recommended to practice normal and recommended precautions as with any viral influenza. Of particular precautions are the elderly and those who have compromised health or immunity conditions (respiratory, cardiac, diabetes, etc.) and persons in regular contact with these classes (healthcare, elder care, etc.).
Colorado Department of Health & Environment
www.colorado.gov/pacific/cdphe/2019-novel-coronavirus
-- Stay home or in a comparable setting as much as possible:
- Work from home if possible; if you can’t work from home, maintain at least 6 feet of distance between you and your coworkers or customers.
- Only go to public spaces for necessities such as groceries and the pharmacy.
- Continue healthy, non-group activities like walking, hiking, jogging, cycling and other activities that maintain distance from other people.
- Don’t gather in group settings.
- Avoid mass gatherings.
- Maintain distance (approximately 6 feet or 2 meters) from others.
- If you need to travel, use a private vehicle instead of taking buses, rideshares, flights, or other transportation that puts you in contact with other people.
- Continue to operate critical business functions, such as delivery of goods and operation of businesses, with social distancing and additional safety measures in place.
Colorado's UCHealth
"The illness has spread to Colorado, but there’s no need to panic."
www.uchealth.org/today/covid-19-coronavirus-recent-updates
How you can care for yourself and your loved ones.
-- Wash your hands often with soap and water.
-- When possible, avoid touching your face.
-- Pay attention to your surroundings. Keep your distance from those who are sick. When possible, avoid large gatherings.
-- Stay home if you are sick or at high risk for getting infectious illnesses. Learn more about guidance for pregnant women and older adults.
-- Enjoy the outdoors, get exercise and breathe deeply to reduce anxiety. Continue your normal activities when possible. It’s normal to feel worried during stressful times.
If you have a medical emergency
Colorado Department of Health & Environment
Such as severe respiratory symptoms, especially shortness of breath or difficulty breathing, call 911 and don't wait for a COVID-19 test.Sick people should isolate until:
-- They have had no fever for at least 72 hours (without the use of medicine) AND
-- other symptoms (cough, shortness of breath) have improved AND
-- at least 7 days have passed since the symptoms first appeared.If you're sick, anyone in your household you have had close contact with (within six feet for approximately 10 minutes) should self-quarantine for 14 days, even if you haven’t been tested for COVID-19.
As a small business owner, what can I do?
As small business owners of over 30 years ourselves, we know the daily to yearly concerns every business owner has. At times like this, the individual physical, mental, and financial stressors increase. Businesses have responsibilities to their clients and customers, and their employees.
With the passage of the CARES Act, effective 04/20/2020 the self-employed and subcontractors - which most in the investigative and security professions are - can apply to their state for unemployment. Although this may be uncomfortable, this may be an income bridge needed for your personal and business survival. Details are at www.dol.gov/coronavirus/unemploy.
U.S. Small Business Administration (information, funds, and rules, have changed from the SBA)
www.sba.gov/coronavirus
www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act
www.sbc.senate.gov/public/index.cfm?a=Files.Serve&File_id=29FC1AE7-879A-4DE0-97D5-AB0A0CB558C8
Contact your local SBA office or call (800) 659-2955; email disastercustomerservice@sba.gov; visit www.SBA.gov/disaster.
Still trying to estimate the EIDL loan Advance your business can receive?
https://www.sba.gov/sites/default/files/2020-04/PPP--IFRN%20FINAL.pdf (new)
The SBA has released new information and rules to maximize the number of businesses who receive Advances. The Advance is now determined by the number of the small business' pre-disaster employees, and not a flat $10,000 per application - the Advance is $1,000 per employee, up to $10,000. Although initial funding ran out in two weeks, new funding was passed 04/24/2020 and we have learned of some applicants being funded with the grants and loans.
>> EIDL
-- Initial loan disbursements for two months of working capital up to a maximum of$15,000; and
-- If requested at the time of application, the Advance of up to $10,000 is added (updated from last week - the advance is now $1,000 per employee and up to $10,000).
>> PPP
-- Loans mature in two years;
-- Amount of the loan used for payroll and certain operating expenses in the first8 weeks may be forgiven if a minimum of 75% is used for payroll.
Questions about applying for SBA Payroll Protection Program (PPP) loans?
Visit the U.S. Treasury Department (https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses) for details and FAQs (focus on the fine print).
Contact your SBA lender ASAP, as initial demand has been high. SBA has a “find a lender” tool https://www.sba.gov/paycheckprotection/find, but not all lenders are accepting PPP applications, and many not for new customers.
IRS Notices on Tax Filing and Payments Deferral
www.irs.gov/pub/irs-drop/n-20-17.pdf
On 03/18/2020 the IRS issued Notice 2020-17 regarding deferral of tax payments ordinarily be due on April 15. The payment deferral provisions are part of the efforts to alleviate the impact of the coronavirus pandemic on the U.S. economy.
In accordance with this guidance, any taxpayer with a federal income tax return payment due on April 15, 2020, can postpone that payment until July 15, 2020. The deferral provisions apply to both 2019 federal income tax payments and 2020 federal estimated income tax payments that are due on April 15, 2020. These deferred payments will not be subject to interest or penalties. This does not delay the original April 15 due date for filing federal income tax returns. However, both individual and corporate taxpayers that submit a valid automatic extension of time to file their 2019 federal income tax returns will be eligible for the payment deferral.
On 03/19/2020 Treasury Secretary Steve Mnuchin announced the IRS is moving the tax filing deadline from April 15 to July 15.
This coincides with the extension for payments without interest or penalty.
CARES Act
The SBA is required to pay the principal & interest payments (see below) on all loans. Borrowers are to receive a notice from their lenders.
FAQs - What does this mean for you and your SBA loan?
• How will my next payment due be paid? SBA is required to make your next payment. You will not see a debit for the next payment due.
• Is this a deferment? No. Payments from SBA will be applied as regular principal and interest payments. Payments will be applied to interest, principal and, if applicable, fees.
• Do I need to apply or opt in? You're receiving this email because your loan is currently in regular servicing and your loan is included. See details below, SBA payments begin with the next payment due.
• You will see the SBA payments applied to the loan as if the business had made them.
• Are there any changes to my loan? No. There are no changes to the terms of your loan. The SBA simply makes the next 6 payments due.
• If I applied for a deferment, what's the status? We have put all the deferments on hold as SBA will be paying the monthly payments. We'll reach out periodically during the SBA payment to discuss business operations.
• What happens at the end of the 6 month period? Once 6 payments are made we will begin auto-debiting your account on file.
Paycheck Protection Program (PPP)
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
Disaster Loan Assistance
Federal Disaster Loans for Businesses, Private Non-profits, Homeowners and Renters
COVID-19 Economic Injury Disaster Loan Application
https://covid19relief.sba.gov/#/
https://www.sba.gov/page/disaster-loan-applications
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
Economic Injury Disaster Loans are also available to residents in declared disaster areas.
Families First Coronavirus Response Act
On 03/18/2020 the federal government passed this new paid leave law for small businesses to help families during this crisis. This act will go into effect by 04/02/2020 through 12/31/2020. Employers must post information about this new act. The law can be viewed here: www.congress.gov/bill/116th-congress/house-bill/6201/text
For investigators and security, most of whom are self-employed, there is a refundable tax credit equal to 100 percent of a qualified family leave equivalent amount. This treats self-employed individuals as employees and makes them entitled to receive paid leave pursuant to the Emergency Family and Medical Leave Expansion Act. The qualified family leave equivalent amount is capped at the lesser $200 per day or or the average daily self-employment income for the taxable year per day. In calculating the qualified family leave equivalent amount, an eligible self-employed individual may only take into account those days that the individual is unable to work for reasons that would entitle the individual to receive paid leave pursuant to the Emergency Family and Medical Leave Expansion Act.
This act offers paid sick leave options for employees who must take time off of work due to this crisis, including childcare due to school closures. Any paid time off provided to employees due to this crisis can be converted into a payroll tax credit under this law. The law provides $1 billion in grants for unemployment insurance benefit-related activities, requires health insurance plans to cover testing, and provides reimbursement for uninsured Americans.
$500 million to the Special Supplemental Nutrition Program for Women Infants and Children (WIC) for low-income pregnant women or mothers with young children who lose their jobs or are laid off due to the crisis. Also, $400 million for the Emergency Food Assistance Program (TEFAP) food and food storage for local food banks. In addition, $250 million for the Senior Nutrition Program to provide additional home-delivered and pre-packaged meals to low-income seniors who depend on the Senior Nutrition programs in their communities.
This temporarily provides for paid sick time, protected paid family leave, and insurance coverage for private employers with fewer than 500 employees and provides private businesses with payroll tax credits to offset the additional expenses incurred. It is complicated legislation with extensive guidance from the U.S. Department of Labor, but the Employers Council breaks it down into plain language on the requirements to get employers more familiar with the requirements.
US Department of Labor - www.dol.gov/newsroom/releases/whd/whd20200324
Employers Council - https://blog.employerscouncil.org/2020/03/19/families-first-act-signed-into-law
Check your state, county and local resources for businesses and job seekers.
What can I do for my family, friends, co-workers and neighbors?
As we have seen local brick and mortar stores laid bare of food, essentials, and paper goods – many are left wondering where to turn. Those homebound and in the risk classes have become more vulnerable. There are several online resources; however, many have also become out-of-stock on common items. Of importance are food and medicine delivery services. From the ride-share programs also offering delivery, to local stores and restaurants. You can use these services for yourself, or a local or distant person in need to order for them.
- www.InstaCart.com and have delivery from multiple local stores to you, a neighbor or a distant relative in need.
- Local Stores offer personal deliveries.
- Local ride-shares and drive-thru for restaurants.
- Online and local pharmacy delivery.
- www.NextDoor.com and other social media groups to join or organize a neighborhood service for delivery and checks.
What resources are available for those at risk in mental health?
Having worked death investigations since 2002 (Dean) and 2004 (Karen) beginning with our respective training, internship and as medicolegal death investigators, and privately since 2008, we have seen what the stressors of a person’s physical, mental and financial health can do. Depression, suicide, and also both domestic and workplace violence increase. This is one area we are not seeing any coverage on for help and resources.
- In any life-threatening emergency call 911.
- Check on your family, friends, co-workers and neighbors. Be more aware of those who are already at risk – from the elderly and with compromising health conditions, to those with existing or developing mental health and contributing stressors.
- Check on yourself and each other within your home. Talk about your situation, plan together, and have resources available.
- Although the local, state and national emergency status indicates 2-4 weeks, there are no reports of months for concern. Be prepared for yourself and those close to you. It is important to be cognizant of the needs of others – the same as we each have. If you do not need it, don’t take it and if you have it and someone needs it – give it.
- www.mentalhealth.gov
- www.mentalhealth.gov/get-help/veterans and (800) 273-8255 Crisis Line
- www.mentalhealth.gov/what-to-look-for/suicidal-behavior and (800) 273-8255 Suicide Prevention
-- Emergency Medical Services—911
If the situation is potentially life-threatening, get immediate emergency assistance by calling 911, available 24 hours a day.
-- National Suicide Prevention Lifeline, 1-800-273-TALK (8255) or Live Online Chat
If you or someone you know is suicidal or in emotional distress, contact the National Suicide Prevention Lifeline. Trained crisis workers are available to talk 24 hours a day, 7 days a week. Your confidential and toll-free call goes to the nearest crisis center in the Lifeline national network.
-- Substance Abuse and Mental Health Services Administration (SAMHSA) Treatment Referral Helpline (877) 726-4727
If someone is in need of food, medicine or other personal needs, please contact your local public assistance office.
As family, friends, neighbors and business partners – we are concerned about you. If we can help in any way, please contact us and we will do our best to find the help and resources needed. Also, support your community and businesses. The potential future financial impact is unknown, and will be significant. It is important to now be part of your community.
for the Corona Virus / COVID-19
CDC - www.cdc.gov/nchs/nvss/vsrr/COVID19
https://ncov2019.live
www.trackcorona.live
Please check back for continuing updates - last updated 04/11/2020, 04/16/2020 and 04/24/2020 in red
(SBA changes in grants and rules)
NCISS has also shared a COVID-19 Resource Packet
detailing regulations, laws, and business resources specifically for the PI and Security professions at www.nciss.org/covid-resources
Also see the new NCISS Your Advocate with additional information - https://conta.cc/2X48pHO
Thanks to the Legislative Committees of NCISS and NALI, and state associations, and Associates in Forensic Investigations, for this information! www.privateinvestigations.org/associations
First, we hope you and your families, friends, and co-workers are doing well in physical and mental health, as well as
financially. This virus event is considered an 'outbreak' (as a new strain, one case is considered an outbreak); as it is global, it is considered 'pandemic'. These terms sound alarming – and thus begins physical, mental, and emotional distress in many.
We must all work together to do our part in the circumstances for which we have no control, but can in a personal perspective. With this, we have done extensive research and had many conversations to provide the following information and resources.
As an agency, we have adapted to working remotely and efficiently for over 20 of our 30+ years in business. We are available daily, and with local, state, and national resources – including a large network of thousands of fellow professional investigators – our clients’ needs will always be met.
COVID Resource Packet from NCISS
(specifically prepared for the Investigative and Security professions by the Legislative Committee of the National Council of Investigation & Security Services, and with other association contributions. This link will be automatically updated as of the date shown)
www.nciss.org/covid-resources (NEW as of 03/25/2020)
Please find a packet NCISS has put together on the recent relief legislation. It includes:
- Recent Federal Legislation
- Federal Tax Information
- Federal and State Court Closures
- Reported Process Server Announcements
- Other Relief and Aid
What is the COVID-19?
WebMD
www.webmd.com/lung/coronavirus (click 'View All')
World Health Organization
www.who.int/health-topics/coronavirus
Coronaviruses (CoV) are a large family of viruses that cause illness ranging from the common cold to more severe diseases such as Middle East Respiratory Syndrome (MERS-CoV) and Severe Acute Respiratory Syndrome (SARS-CoV).
-- Coronavirus disease (COVID-19) is a new strain that was discovered in 2019 and has not been previously identified in humans.
-- Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death.
Who is being tested (in Colorado)
Colorado Department of Health & Environment
The state health department gives these groups testing priority:
-- Tier 1: Hospitalized patients, health care workers with symptoms
-- Tier 2: Patients in long-term care facilities or other residential settings, such as homeless shelters or correctional facilities, with symptoms; patients over age 65 with symptoms; patients with underlying conditions with symptoms; first responders with symptoms; critical infrastructure workers with symptoms; people with symptoms who work with vulnerable populations or in group residential settings
-- Tier 3: Other individuals with symptoms
Who is at risk?
Colorado Department of Health & Environment
www.colorado.gov/pacific/cdphe/2019-novel-coronavirus
Certain people are at higher risk of getting very sick [every time - not just this time]:
-- Older people (over age 60), especially those over 80 years.
-- People who have chronic medical conditions like heart, lung, or kidney disease, or diabetes.
-- Older people with chronic medical conditions are at greatest risk.
If you have symptoms, stay where you are, isolate yourself from others, and call a health care provider or nurse line before seeking care. Do not fly. Do not use public transportation or ride-shares.
What are the precautions?
It has been recommended to practice normal and recommended precautions as with any viral influenza. Of particular precautions are the elderly and those who have compromised health or immunity conditions (respiratory, cardiac, diabetes, etc.) and persons in regular contact with these classes (healthcare, elder care, etc.).
Colorado Department of Health & Environment
www.colorado.gov/pacific/cdphe/2019-novel-coronavirus
-- Stay home or in a comparable setting as much as possible:
- Work from home if possible; if you can’t work from home, maintain at least 6 feet of distance between you and your coworkers or customers.
- Only go to public spaces for necessities such as groceries and the pharmacy.
- Continue healthy, non-group activities like walking, hiking, jogging, cycling and other activities that maintain distance from other people.
- Don’t gather in group settings.
- Avoid mass gatherings.
- Maintain distance (approximately 6 feet or 2 meters) from others.
- If you need to travel, use a private vehicle instead of taking buses, rideshares, flights, or other transportation that puts you in contact with other people.
- Continue to operate critical business functions, such as delivery of goods and operation of businesses, with social distancing and additional safety measures in place.
Colorado's UCHealth
"The illness has spread to Colorado, but there’s no need to panic."
www.uchealth.org/today/covid-19-coronavirus-recent-updates
How you can care for yourself and your loved ones.
-- Wash your hands often with soap and water.
-- When possible, avoid touching your face.
-- Pay attention to your surroundings. Keep your distance from those who are sick. When possible, avoid large gatherings.
-- Stay home if you are sick or at high risk for getting infectious illnesses. Learn more about guidance for pregnant women and older adults.
-- Enjoy the outdoors, get exercise and breathe deeply to reduce anxiety. Continue your normal activities when possible. It’s normal to feel worried during stressful times.
If you have a medical emergency
Colorado Department of Health & Environment
Such as severe respiratory symptoms, especially shortness of breath or difficulty breathing, call 911 and don't wait for a COVID-19 test.Sick people should isolate until:
-- They have had no fever for at least 72 hours (without the use of medicine) AND
-- other symptoms (cough, shortness of breath) have improved AND
-- at least 7 days have passed since the symptoms first appeared.If you're sick, anyone in your household you have had close contact with (within six feet for approximately 10 minutes) should self-quarantine for 14 days, even if you haven’t been tested for COVID-19.
As a small business owner, what can I do?
As small business owners of over 30 years ourselves, we know the daily to yearly concerns every business owner has. At times like this, the individual physical, mental, and financial stressors increase. Businesses have responsibilities to their clients and customers, and their employees.
With the passage of the CARES Act, effective 04/20/2020 the self-employed and subcontractors - which most in the investigative and security professions are - can apply to their state for unemployment. Although this may be uncomfortable, this may be an income bridge needed for your personal and business survival. Details are at www.dol.gov/coronavirus/unemploy.
U.S. Small Business Administration (information, funds, and rules, have changed from the SBA)
www.sba.gov/coronavirus
www.sbc.senate.gov/public/index.cfm/guide-to-the-cares-act
www.sbc.senate.gov/public/index.cfm?a=Files.Serve&File_id=29FC1AE7-879A-4DE0-97D5-AB0A0CB558C8
Contact your local SBA office or call (800) 659-2955; email disastercustomerservice@sba.gov; visit www.SBA.gov/disaster.
Still trying to estimate the EIDL loan Advance your business can receive?
https://www.sba.gov/sites/default/files/2020-04/PPP--IFRN%20FINAL.pdf (new)
The SBA has released new information and rules to maximize the number of businesses who receive Advances. The Advance is now determined by the number of the small business' pre-disaster employees, and not a flat $10,000 per application - the Advance is $1,000 per employee, up to $10,000. Although initial funding ran out in two weeks, new funding was passed 04/24/2020 and we have learned of some applicants being funded with the grants and loans.
>> EIDL
-- Initial loan disbursements for two months of working capital up to a maximum of$15,000; and
-- If requested at the time of application, the Advance of up to $10,000 is added (updated from last week - the advance is now $1,000 per employee and up to $10,000).
>> PPP
-- Loans mature in two years;
-- Amount of the loan used for payroll and certain operating expenses in the first8 weeks may be forgiven if a minimum of 75% is used for payroll.
Questions about applying for SBA Payroll Protection Program (PPP) loans?
Visit the U.S. Treasury Department (https://home.treasury.gov/policy-issues/top-priorities/cares-act/assistance-for-small-businesses) for details and FAQs (focus on the fine print).
Contact your SBA lender ASAP, as initial demand has been high. SBA has a “find a lender” tool https://www.sba.gov/paycheckprotection/find, but not all lenders are accepting PPP applications, and many not for new customers.
IRS Notices on Tax Filing and Payments Deferral
www.irs.gov/pub/irs-drop/n-20-17.pdf
On 03/18/2020 the IRS issued Notice 2020-17 regarding deferral of tax payments ordinarily be due on April 15. The payment deferral provisions are part of the efforts to alleviate the impact of the coronavirus pandemic on the U.S. economy.
In accordance with this guidance, any taxpayer with a federal income tax return payment due on April 15, 2020, can postpone that payment until July 15, 2020. The deferral provisions apply to both 2019 federal income tax payments and 2020 federal estimated income tax payments that are due on April 15, 2020. These deferred payments will not be subject to interest or penalties. This does not delay the original April 15 due date for filing federal income tax returns. However, both individual and corporate taxpayers that submit a valid automatic extension of time to file their 2019 federal income tax returns will be eligible for the payment deferral.
On 03/19/2020 Treasury Secretary Steve Mnuchin announced the IRS is moving the tax filing deadline from April 15 to July 15.
This coincides with the extension for payments without interest or penalty.
CARES Act
The SBA is required to pay the principal & interest payments (see below) on all loans. Borrowers are to receive a notice from their lenders.
FAQs - What does this mean for you and your SBA loan?
• How will my next payment due be paid? SBA is required to make your next payment. You will not see a debit for the next payment due.
• Is this a deferment? No. Payments from SBA will be applied as regular principal and interest payments. Payments will be applied to interest, principal and, if applicable, fees.
• Do I need to apply or opt in? You're receiving this email because your loan is currently in regular servicing and your loan is included. See details below, SBA payments begin with the next payment due.
• You will see the SBA payments applied to the loan as if the business had made them.
• Are there any changes to my loan? No. There are no changes to the terms of your loan. The SBA simply makes the next 6 payments due.
• If I applied for a deferment, what's the status? We have put all the deferments on hold as SBA will be paying the monthly payments. We'll reach out periodically during the SBA payment to discuss business operations.
• What happens at the end of the 6 month period? Once 6 payments are made we will begin auto-debiting your account on file.
Paycheck Protection Program (PPP)
An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.
https://www.sba.gov/funding-programs/loans/paycheck-protection-program-ppp
Disaster Loan Assistance
Federal Disaster Loans for Businesses, Private Non-profits, Homeowners and Renters
COVID-19 Economic Injury Disaster Loan Application
https://covid19relief.sba.gov/#/
https://www.sba.gov/page/disaster-loan-applications
In response to the Coronavirus (COVID-19) pandemic, small business owners in all U.S. states, Washington D.C., and territories are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000. The SBA’s Economic Injury Disaster Loan program provides small businesses with working capital loans of up to $2 million that can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
The loan advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. Funds will be made available within three days of a successful application, and this loan advance will not have to be repaid.
Economic Injury Disaster Loans are also available to residents in declared disaster areas.
Families First Coronavirus Response Act
On 03/18/2020 the federal government passed this new paid leave law for small businesses to help families during this crisis. This act will go into effect by 04/02/2020 through 12/31/2020. Employers must post information about this new act. The law can be viewed here: www.congress.gov/bill/116th-congress/house-bill/6201/text
For investigators and security, most of whom are self-employed, there is a refundable tax credit equal to 100 percent of a qualified family leave equivalent amount. This treats self-employed individuals as employees and makes them entitled to receive paid leave pursuant to the Emergency Family and Medical Leave Expansion Act. The qualified family leave equivalent amount is capped at the lesser $200 per day or or the average daily self-employment income for the taxable year per day. In calculating the qualified family leave equivalent amount, an eligible self-employed individual may only take into account those days that the individual is unable to work for reasons that would entitle the individual to receive paid leave pursuant to the Emergency Family and Medical Leave Expansion Act.
This act offers paid sick leave options for employees who must take time off of work due to this crisis, including childcare due to school closures. Any paid time off provided to employees due to this crisis can be converted into a payroll tax credit under this law. The law provides $1 billion in grants for unemployment insurance benefit-related activities, requires health insurance plans to cover testing, and provides reimbursement for uninsured Americans.
$500 million to the Special Supplemental Nutrition Program for Women Infants and Children (WIC) for low-income pregnant women or mothers with young children who lose their jobs or are laid off due to the crisis. Also, $400 million for the Emergency Food Assistance Program (TEFAP) food and food storage for local food banks. In addition, $250 million for the Senior Nutrition Program to provide additional home-delivered and pre-packaged meals to low-income seniors who depend on the Senior Nutrition programs in their communities.
This temporarily provides for paid sick time, protected paid family leave, and insurance coverage for private employers with fewer than 500 employees and provides private businesses with payroll tax credits to offset the additional expenses incurred. It is complicated legislation with extensive guidance from the U.S. Department of Labor, but the Employers Council breaks it down into plain language on the requirements to get employers more familiar with the requirements.
US Department of Labor - www.dol.gov/newsroom/releases/whd/whd20200324
Employers Council - https://blog.employerscouncil.org/2020/03/19/families-first-act-signed-into-law
Check your state, county and local resources for businesses and job seekers.
What can I do for my family, friends, co-workers and neighbors?
As we have seen local brick and mortar stores laid bare of food, essentials, and paper goods – many are left wondering where to turn. Those homebound and in the risk classes have become more vulnerable. There are several online resources; however, many have also become out-of-stock on common items. Of importance are food and medicine delivery services. From the ride-share programs also offering delivery, to local stores and restaurants. You can use these services for yourself, or a local or distant person in need to order for them.
- www.InstaCart.com and have delivery from multiple local stores to you, a neighbor or a distant relative in need.
- Local Stores offer personal deliveries.
- Local ride-shares and drive-thru for restaurants.
- Online and local pharmacy delivery.
- www.NextDoor.com and other social media groups to join or organize a neighborhood service for delivery and checks.
What resources are available for those at risk in mental health?
Having worked death investigations since 2002 (Dean) and 2004 (Karen) beginning with our respective training, internship and as medicolegal death investigators, and privately since 2008, we have seen what the stressors of a person’s physical, mental and financial health can do. Depression, suicide, and also both domestic and workplace violence increase. This is one area we are not seeing any coverage on for help and resources.
- In any life-threatening emergency call 911.
- Check on your family, friends, co-workers and neighbors. Be more aware of those who are already at risk – from the elderly and with compromising health conditions, to those with existing or developing mental health and contributing stressors.
- Check on yourself and each other within your home. Talk about your situation, plan together, and have resources available.
- Although the local, state and national emergency status indicates 2-4 weeks, there are no reports of months for concern. Be prepared for yourself and those close to you. It is important to be cognizant of the needs of others – the same as we each have. If you do not need it, don’t take it and if you have it and someone needs it – give it.
- www.mentalhealth.gov
- www.mentalhealth.gov/get-help/veterans and (800) 273-8255 Crisis Line
- www.mentalhealth.gov/what-to-look-for/suicidal-behavior and (800) 273-8255 Suicide Prevention
-- Emergency Medical Services—911
If the situation is potentially life-threatening, get immediate emergency assistance by calling 911, available 24 hours a day.
-- National Suicide Prevention Lifeline, 1-800-273-TALK (8255) or Live Online Chat
If you or someone you know is suicidal or in emotional distress, contact the National Suicide Prevention Lifeline. Trained crisis workers are available to talk 24 hours a day, 7 days a week. Your confidential and toll-free call goes to the nearest crisis center in the Lifeline national network.
-- Substance Abuse and Mental Health Services Administration (SAMHSA) Treatment Referral Helpline (877) 726-4727
If someone is in need of food, medicine or other personal needs, please contact your local public assistance office.
As family, friends, neighbors and business partners – we are concerned about you. If we can help in any way, please contact us and we will do our best to find the help and resources needed. Also, support your community and businesses. The potential future financial impact is unknown, and will be significant. It is important to now be part of your community.
The above is not medical, legal, or tax advice and is information shared from the included links.