Steve Rice, CPA

To our valued clients:

We would like to take this opportunity to express our sincere hope that you are faring well in these uncertain times. I am confident that these current obstacles will evolve into opportunities that will give rise to a better and brighter future. We at Steve Rice, CPA remain dedicated to your success now and in the future.

In response to the current conditions and under the guidance of government officials and CDC best practices, we are temporarily refraining from office visits and client site visits until March 31st. Our staff will remain working remotely during this time to serve you and provide updates. We are accepting electronic documents via email or through Dropbox. If you have hard copy documents that you would like to get to us, you can contact us to make arrangements. We believe this to be the responsible thing to do for the safety and security of our clients and our staff. We will be monitoring the directives of our government officials and make adjustments to these plans as necessary.

As of the writing of this email, the IRS has just issued Notice 2020-18 which effectively extends the tax filing deadline from April 15th for 90 days until July 15th for the 2019 tax year. This notice relates to individuals and corporations.

Additionally, the federal government has issued the following through executive orders and congressional laws:

• Payment of tax liability for 2019 taxes due April 15th extended to July 15th without penalty or interest;
• Federal Student Loan payments delayed 60 days;
• Interest on Student Loans not assessed for 60 days;
• Additional funds available for low interest SBA loans for both businesses and nonprofits;
• Enhanced Unemployment Insurance assistance for those affected;
• Employees guaranteed two weeks sick leave for companies with less than 500 employees.

Congress is also currently debating a third Coronavirus response bill that includes the provisions to eliminate the need to pay employment taxes for the rest of 2020 and two (2) rounds of stimulus checks intended to be delivered to individual taxpayers, the first slated for delivery by April 6th. We will continue to monitor this legislation and inform you of the results.

If you have any questions regarding these developments or would like to discuss how these might affect you or your organization, please call us at 954-263-4878 or email us at [email protected].

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