• PPP Loan Additional Guidance for Clients

    May 20, 2020

    Dear Valued Clients & Business Partners, We want to make you aware of some additional guidance around the Paycheck Protection Program (“PPP”) loan forgiveness that was released by the U.S. Small Business Administration (“SBA”) on May 15th. Below is an executive summary of the most important and relevant information for you to review. We want […]

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  • Importance of Cash Flow Planning to Come Out of Covid 19 in a Position of Strength

    May 18, 2020

    Good Afternoon, I hope you and your families are doing well and are healthy. I have fully adapted to the new norm of Zoom calls and I am grateful for the extra time I am getting with my family. However, I am hopeful to be able to return to the office and begin interacting face […]

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  • New Ways the CARES Act Affects Individuals and Businesses

    April 2, 2020

    As additional details of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) become available, the list of potential tax benefits continues to grow. Individual Taxpayers Individual taxpayers are affected in a number of ways. Rebate checks, the so-called stimulus checks, are slated to be issued to individual taxpayers subject to income limitations. Between […]

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  • Section 139 Tax-Free Payments to Employees

    March 26, 2020

    On March 13, 2020, President Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the “Declaration”) due to extraordinary circumstances resulting from COVID-19. The Declaration allows employers to make tax-free payments or reimbursements to employees as “qualified disaster payments” under Section 139 of the Internal Revenue Code. Qualified […]

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  • COVID-19 & Assistance for Small Businesses

    March 25, 2020

    Forced business closures and lost revenue as a result of COVID-19 are causing many businesses to face a severe cash crunch. One currently available avenue for relief is the Small Business Administration (“SBA”). The SBA is currently offering Economic Injury Disaster Loans of up to $2.0 million for eligible small businesses and not for profit […]

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  • IRS Deadline for Filing Tax Returns - July 15

    March 20, 2020

    Treasury Secretary Steven Mnuchin announced Friday that the administration has moved the IRS deadline for filing individual tax returns from April 15 to July 15 due to the disruption caused by the coronavirus. We are going to continue to work diligently to complete all of our clients’ tax returns and deliverables over the next few […]

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  • Families First Cornonavirus Response Act

    Wednesday evening, March 18, 2020, President Trump signed the Families First Coronavirus Response Act (“FFCRA”), an emergency legislative measure in response to the spread of the coronavirus, which takes effect April 2, 2020. Under the FFCRA, businesses who employ fewer than 500 individuals will be required to provide up to 80 hours of paid leave […]

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  • Tax Deadline Update

    March 18, 2020

    On March 13, 2020, President Trump issued an emergency declaration in response to the ongoing COVID-19 pandemic that instructed the Secretary of the Treasury “to provide relief form tax deadlines to Americans who have been adversely affected by the COVID-19 emergency.” In response, the Internal Revenue Service officially announced today that the due date for […]

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  • Siegfried Advisory + COVID-19

    Valued Clients, We have been closely monitoring developments around COVID-19. As always, our highest priorities are the safety and wellbeing of our employees, clients, and the communities where we live. We are taking all necessary precautions and encourage all of you to do the same. In light of continuing developments, we are sharing an important […]

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