Alloy Silverstein continues to monitor the COVID-19 pandemic and we’d like to share resources that may be helpful to your business during these trying times.
Office Update Regarding Coronavirus
Further state and federal legislative measures to aid businesses impacted by COVID-19 are still pending. We will keep you updated.
SBA’s Economic Injury Disaster Loans offer up to $2 million in assistance for a small business. These loans can provide vital economic support to small businesses to help overcome the temporary loss of revenue they are experiencing.
*Update* The SBA has named New Jersey a declared disaster state in the wake of the Coronavirus pandemic. This declaration will allow New Jersey small business owners impacted by COVID-19 to apply for SBA Economic Injury Disaster Loans (EIDLs) that provide financial assistance to help support their businesses.
Process for Accessing SBA’s Coronavirus (COVID-19) Disaster Relief Lending
For additional information, please contact the SBA disaster assistance customer service center at 1-800-659-2955. (Source: SBA.gov)
As of March 17, 2020, the Treasury announced that federal tax payments for individuals and businesses due April 15, 2020 will be extended 90 days to July 15. See more→
Update: On March 20, 2020, the IRS confirmed that the payment *and* filing deadline will be deferred to July 15, 2020. This applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax. There was previously a cap for the payment extension, but that no longer applies. See more→
In addition, the Business Action Center’s 1-800-JERSEY-7 helpline is now open 8:00am to 9:00pm, seven days a week.
Additional State and National Resources:
Alloy Silverstein continues to operate and we’re here to answer your questions and business concerns during this unpredictable time. Our team is prepared to work and communicate remotely to continue to serve our clients.
Empowering business owners and individuals in South Jersey and Philadelphia to feel confident through proactive accounting and advisory solutions.