Resources Available to Help Your Business and Family
As you’ve probably noticed, more and more businesses are temporarily closing their doors each day. Some of them working remotely, some providing free shipping options, and others just closing completely for the time being. With all of the uncertainties surrounding COVID-19, chances are you and your business are feeling the impact as well. You can rest assured that government agencies are hard at work creating programs to provide support to ease the burden on businesses, individuals, and the economy.
Here are some of the resources currently available:
- For when you need to make a plan – The Rhode Island Society of Certified Public Accountants (RISCPA) knows how critical it is for businesses to prepare for the future, especially as we don’t know how severe COVID-19’s impact will be. Refer to their COVID-19 Business Planning Checklist to make sure your business is ready, here.
- For when COVID-19 has taken a bite out of your revenues – The U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans up to $2 million. These loans can be used to help meet financial obligations and operating expenses that would have been met had the disaster not occurred. This SBA assistance is available in the entire state of Rhode Island and the counties of Bristol, Norfolk, and Worcester in Massachusetts. Visit SBA.gov/disaster to confirm eligibility and start the loan process.
- For when your employees are unable to work due to a public health emergency – The Families First Coronavirus Response Act was signed on March 18, 2020 and takes effect on April 2, 2020. The Act provides the following provisions:
- Emergency Family and Medical Leave Act (FMLA) Expansion
- Emergency Paid Sick Leave Act
- Employer Tax Credits for Paid Sick and Paid Family and Medical Leave
For more specific details on the provisions under the Families First Coronavirus Response Act, see our recent email update.
- For when your business is working remotely – Microsoft is providing six months of its Office 365 tools for free to enable remote collaboration, file sharing, and video conferencing. Access this free service, here.
- For when you’re out of work due to COVID-19 – The Rhode Island Department of Labor and Training (DLT) is processing COVID-19 related unemployment insurance claims faster and more generously. Visit their website for more details on how to apply.
- For when your child’s school is closed – “Grab and Go” meals are available for children at various sites throughout Rhode Island. There are no ID or residency requirements, but the child must be present; schools cannot give a meal to an adult on behalf of a child. Click here for a list of food sites and their respective hours.
- For when your child is completing their schoolwork in a remote environment – Cox Communications is offering its low-cost internet service to families that don’t have an internet connection at home for free for the first 30 days. They are also partnering with PCs for People to allow families to purchase discounted, refurbished computers. Click here for more information.
- For when your accountant’s office has temporarily closed – On Friday, March 20, 2020, the IRS issued Notice 2020-18, which automatically extends the filing and payment due date for Federal income tax returns from April 15 until July 15th for Affected Taxpayers. This notice only provides relief for Federal income tax returns and Federal income tax payments. For information on state income tax filing and income tax payment deadlines and extensions see the American Institute of Certified Public Accountants (AICPA) State Filing Relief Chart for Coronavirus, here.
DiSanto, Priest & Co. is still open! Although we are working remotely, we are still here to support you with all your business needs. Please reach out, just as you always have, via e-mail, give us a call us at (401) 921-2000, or fill out our online contact us form.
For more information on COVID-19 and to get the latest updates, visit our COVID-19 Resources page.