IRS Warns of Coronavirus-Related Tax Scams

Taxpayers should beware of calls and emails from scammers contacting them about the stimulus payments as a result of the newly passed CARES Act. The IRS has already noticed a great deal of new phishing schemes against taxpayers due to the COVID-19 pandemic. Taxpayers should be careful about falling for these these schemes, as it…

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CARES Act FAQ: Paycheck Protection Program

On March 27th, President Trump enacted the Coronavirus Aid, Relief, and Economics Security (CARES) Act. The historic $2.2 trillion stimulus bill includes a $349 billion paycheck protection program (PPP) that targets aid to small businesses dealing with losses resulting from the coronavirus pandemic. The PPP uses the already-existing small-business loan framework of the Small Business…

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COVID-19 Data Security Insight

In just a short amount of time, COVID-19 has had an immense impact on the global economy, as well as business operations around the world.  How companies stay resilient and can adapt in the face of COVID-19’s impact, will be a topic of discussion for many business leaders as new information continues to surface. Along…

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BGBC Remote Services

To our valued clients, While we provide an essential service under the Governor’s order and will continue to provide assistance to you, we feel it is appropriate to reduce our office team to a minimally essential, on-site team.  For this reason, our office will be closed to visitors to support social distancing.  While our physical office…

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IRS Moving Tax Day to July 15 from April 15

Treasury Secretary Steven Mnuchin announced in a tweet “We are moving Tax Day from April 15 to July 15.  All taxpayers and businesses will have additional time to file and make payments without interest or penalties.” In guidance issued earlier in the week, only payments (including the 1st quarter estimate payment) were included in the…

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Coronavirus Aid Bill

While the Coronavirus Aid Bill signed on Wednesday addresses and funds many items, including Healthcare, Nutrition, and Testing, the focus on this summary is the tax related matters that may impact you and your employees.  If you are experiencing any of the items below we will assist  you with claiming the payroll tax credits and…

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Coronavirus Could Bring New Financial Pressures to Distressed Healthcare Industry

On March 11, the World Health Organization (WHO) declared the coronavirus outbreak a pandemic, with numerous countries—including China, the Czech Republic, Hong Kong, Italy, Slovakia and the U.S.—announcing travel restrictions and public distancing measures. For healthcare providers in the United States—already facing financial distress—the anticipated domestic escalation of the coronavirus outbreak could have direct and…

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Families First Coronavirus Response Act

You have likely heard about, and may be following, the economic stimulus bill that the U.S. House of Representatives passed last week and that was endorsed by President Trump. At this time, the bill has not moved through the Senate and to the President’s desk. Given this, the information below is likely to change. Since…

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Tax Payment Deadline Delayed by 90 Days

At a Tuesday White House briefing, Treasury Secretary Steven Mnuchin announced new relief measures that are effective immediately.  Today we have received written guidance from the Treasury Department outlining the items below. The Internal Revenue Services (IRS) has extended the tax payment deadline for 2019 income taxes and 2020 estimated taxes for individuals who owe…

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