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IRS webpage provides information on how to use new non-filer web-based tool

17.04.2020
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IRS webpage provides information on how to use new non-filer web-based tool

 IRS website: Non-Filers: Enter Payment Info Here

An IRS webpage provides information on how to use the new non-filer tool, “Non-Filers: Enter Payment Info Here,” in order to obtain economic impact payments provided by the  Coronavirus Aid, Relief, and Economic Security Act (CARES Act).

Background. In a March 30, 2020 Information Release, the IRS provided details on the distribution of economic impact payments that are part of the CARES Act,  PL 116-136, 3/27/2020. In the March […]

Self-Employed Paycheck Protection Program Update

17.04.2020
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Self-Employed Paycheck Protection Program Update

Per guidance released on April 14, 2020, the Small Business Administration (SBA) has provided an update for self-employed individuals that are applying for the Paycheck Protection Program (PPP) loan. It specifies that W2 wages are not necessary to obtain the loan, nor the forgiveness that is associated with the program. Below we provide highlights from the guidance on both the size of the loan that a self-employed individual can obtain, as well as initial guidance on how that loan can be forgiven. The maximum loan amount is determined by the […]

Small Business Paycheck Protection Program

1.04.2020
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Applications for small business Paycheck Protection Program open April 3

Small businesses affected by the coronavirus pandemic can apply for loans under the federal Paycheck Protection Program (PPP) beginning Friday, April 3.

Starting April 10, independent contractors and self-employed individuals can apply.

The application can be found https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf on the Treasury site, along with details for borrowers and lenders. Treasury urged those in need of funding to apply quickly, noting that the program has a cap and demand is likely to be […]

State of Delaware Hospitality Emergency Loan Program (HELP)

25.03.2020
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State of Delaware Hospitality Emergency Loan Program (HELP)

We wanted to provide our clients guidance on a loan program offered by the State of Delaware to assist with the financial hardships created by the COVID-19 pandemic.  Governor John Carney announced Hospitality Emergency Loan Program or HELP to provide financial relief for restaurants, bars and other hospitality industry businesses.

Here’s what you need to know:

Loans up to $10,000 per applicant.
Annual revenue must be less than $1.5 million.
Businesses must have been in operation for at least a year
0% loans, with a […]

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