covid-19

A valuable tax credit is available to certified businesses that hire long-term unemployment recipients and other groups facing significant barriers to employment. The Work Opportunity Tax Credit, which has been extended through 2025, encourages employers to hire members of 10 targeted groups. Of significant note due to the COVID-19 pandemic, one of these groups is those that have been unemployed for at least 27 consecutive weeks and received unemployment benefits during part or all of that time. The other groups are: Temporary Assistance for Needy Families (TANF) recipients; unemployed

The IRS is currently sending informational-only CP256V Notices to self-employed individuals and household employers that chose to defer paying certain Social Security taxes under the CARES Act. The new notice is a reminder that the first installment of deferred Social Security taxes is due by the end of the year. The CARES Act allowed self-employed individuals and household employers to defer the payment of certain Social Security taxes on their Form 1040 for tax year 2020 over the next two years. Half of the deferred Social Security tax is due by Dec. 31, 2021, and the remainder is due by Dec

In response to COVID-19, small business owners, including agricultural businesses and nonprofit organizations, in all U.S. states, Washington D.C., and territories, can apply for the COVID-19 Economic Injury Disaster Loan (EIDL). This loan, directly from the Small Business Administration (SBA), must be repaid. It’s a low-interest, fixed-rate, long-term loan to help overcome the effects of the pandemic by providing working capital to meet operating expenses. Please contact PPG Partners if you would like help applying for a loan. The following is information from the SBA website regarding the