The Inner Office, Inc.

There are new credits available to small businesses intended to cover the costs of paying for leave to employees who either have coronavirus or have to care for a child. They are geared to the larger end of “small business” and, in fact, businesses with less than 50 employees are not obligated to provide leave. […]

SBA assistance: On March 16, the U.S. Small Business Administration approved Governor Lamont’s request to begin offering disaster-relief loans to Connecticut small businesses and nonprofits. Companies in the state can now apply for loans of up to $2 million through a special page on the SBA website. SBA also has more valuable information for businesses. ________________________________________________ Follow the link […]

From the CT DRS website: Department of Revenue Services extends filing and payment deadlines for personal income tax returns to July 15, 2020 At the direction of Governor Ned Lamont, the Connecticut Department of Revenue Services (DRS) is extending the filing and payment deadline for personal income tax returns 90 days, to July 15, 2020. […]

Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak 5K1.3KMarch 18, 2020 Washington – Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service (IRS) today issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million […]