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COVID-19 Update

April 1, 2020 Update:

Let us start out by saying that we hope you and your loved ones are healthy and safe.

With the impact of the Coronavirus pandemic on both health and finances, the federal government recently passed a roughly $2 trillion assistance package that impacts both individuals and businesses. While this CARES Act (the Coronavirus Aid, Relief, and Economic Security Act) includes many provisions, we've highlighted the ones here that will be most relevant to most of our clients.


  • Postponement of the April 15 filing and payment dates: For 2019 tax returns and payments, July 15 is the new April 15! That means that 2019 tax returns, first quarter 2020 estimated tax payments, 2019 IRA and ROTH IRA contributions, and 2019 Health Savings Account contributions are now all due July 15, 2020.
  • 2020 Recovery Rebate (aka stimulus payment): $1,200 per individual plus $500 per child to all US residents with a social security number and who are not eligible to be a dependent of another taxpayer. These payments phase out for incomes over $75,000 (single or head of household) and $150,000 (married filing jointly). There is no action required to receive this payment. The IRS is using the 2019 tax return to determine eligibility (they will use the 2018 return if 2019 is not yet filed).
  • Please Note: If you don’t qualify to get the payment now, you have another “bite at the apple” when you file your 2020 tax returns. If you do get a credit now and it’s less than you end up being entitled to when the 2020 return is sent in, you’ll get an additional amount at that time. If you get more now than you’re ultimately entitled to you do not have to pay it back.
  • Required Minimum Distributions (RMD) from retirement plans: The RMD requirement has been suspended for 2020. If you already took your RMD and it’s been less than 2 months since then you should be able to roll it over back into an IRA.


  • Expansion of the SBA Emergency Injury Disaster Loan (EIDL): These loans are designed for any small business or private nonprofit organization that has suffered Substantial Economic Injury due to Covid-19. These are loans with a 3.75% maximum interest rate and are designed to meet working capital needs. Borrowers can request $10,000 payable three days after application and if the EIDL loan is denied, the advanced funds do not need to be returned. The application for the EIDL is done on-line at the
  • Creation of the Paycheck Protection Program (PPP): The PPP loans have a maximum interest rate of 4% and the possibility of the loan being forgiven. This is limited to 2.5 times the average total monthly Payroll Costs for the prior year (or $10 million – whichever is less). To the extent the PPP loan is used for Payroll Costs, rent, utility payments, and interest on pre-existing mortgage obligations the amount spent on those costs during the eight-week period after the PPP loan is originated can be included on an application to the lender for loan forgiveness. This program is designed to incentivize employers to keep their employees working. The application for the PPP loan is made through banks, and it appears the guidance will be forthcoming so that the banks won’t be processing these until April 11.

Please note that the descriptions above are just to give you an idea of some of what’s available. For more detailed information, this guide prepared by the US Chamber of Commerce may help answer some of your questions:

We are here for you and want to answer your questions. Since we are working remotely, the best way to contact us is by email ( and

Be well and stay safe!

March 22, 2020 Update:

Update as of March 20, 2020:

Given the ever changing world we now find ourselves in we are adapting once again to changing circumstances.

Today, finally, Secretary of the Treasury Steven Mnuchin announced that the tax filing deadline has been moved to July 15. He had formerly announced that the April 15 payments would be moved to July 15, so now both the filing and payment deadlines are aligned. April 15 estimated taxes are now due July 15 as well. However as far as we can tell, June 15 estimates are still due June 15 – perhaps this will be addressed later.

Now that we have this information, we will be modifying our tax season hours of operation and staffing level to a “non-tax season” level. This means no late hours and no seasonal staff, and also means that for those of you reading this whose returns we are working on currently or if you haven’t yet gotten your tax information to us yet please note that the changed deadline will mean we are getting your work completed on a longer timeline. We do want to continue to work on your tax returns during this time period but given the extended deadline and complex situation we’re all dealing with we want to make sure our staff is safe and healthy.

Given the smaller staffing level we’ll be having in the foreseeable future please use e-mail and faxing whenever possible instead of phone calls (though we are available by phone if you need us!).

Stay safe and healthy!!

Please see the video below for a message about our new policy for tax return delivery:

With the COVID-19 virus having an increasing impact in our community, we want to let you know how our business is addressing this situation. To accommodate any concerns, we are following the guidance of the Centers for Disease Control (CDC) and have:

  • Terminated the option of Face to Face meetings for the current time.
  • Limited the number of people coming into the office.
  • Provided a remote document dropbox allowing a no contact transfer of paperwork.
  • Asked clients who pick up their returns to review them at home.
  • Asked clients to pay their bills online or via mailed check.
  • Increased the cleaning and sanitation of our offices.
  • Added additional alcohol-based sanitizer.
  • Informed our staff if anyone is feeling ill, they need to stay home.

We are also here to serve you via the phone, email, and using our online portal.

  • All clients are encouraged to use our Secure Firm Portal to send us files. and exchange documents online. You can access the portal via our website.
  • Please call us at (609) 890-7499 if you want to schedule a phone appointment.

Please check with us on any changes in our work schedule and call us at (609) 890-7499 if you have any questions.

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