No doubt you have heard about the resources that Federal, State and local governments are making available to individuals and small business in this time of cornonavirus. So, now what? Go to the source. It may not be one stop for all resources but you may be able to avail yourself of many of the aid programs at this time.
Check the IRS site on coronavirus help to find out about what tax relief might be available to you.
The U.S. Small Business Administration is facilitating the aid offered in the CARES Act for small businesses who have experienced the negative affect of the coronavirus pandemic. There are a couple of options including the Paycheck Protection Program, Loans to pay employees and Disaster Relief Loans.
The CARES Act has also extended unemployment benefits for employees who have been laid off or furloughed from their jobs during this crisis. Contact your state’s unemployment office to apply for benefits.
The Families First Coronavirus Response Act allows those who become ill or have to care for an ill family member to received extended sick leave benefits.
There are even creative ideas circulating like the Small Business Relief Fund that small businesses may be able to avail themselves of.
And don’t forget to reach out to your local government. They may have programs in place that could help you at this time.
Contact your accountant or tax professional for help navigating the many programs and services.