COVID-19 News and Resources

Small Business Administration (SBA) Funding Opportunities

Funding opportunities for small businesses are crucial and information is changing rapidly. R&A is continually monitoring funding resources, guidance and analysis across industries, and formulating strategies to maximize opportunities. Below is our curated list of reliable resources with the up to date information you need.

To participate in the SBA’s loan program, a business must meet SBA’s definition of a small business—for most, that is a business with 500 or fewer employees. The SBA’s online tool can assist you in determining your qualification as a small business. Also, note that participation in the following programs may limit your access to others passed under the CARES Act.

Paycheck Protection Program (PPP)

Calculators provided by AICPA to calculate your PPP loan amount. Select the calculator that matches your situation:

Economic Injury Disaster Loan (EIDL) and Emergency Loan Advance

CARES Act – Coronavirus Aid, Relief and Economic Security Act

The Act, signed into law on March 27, 2020, is an economic relief plan for individuals and businesses impacted by the COVID-19 pandemic.

IRS FAQs - Deferral of employment tax deposits and payments through December 31, 2020 - Employers who have received a PPP loan, but whose loan has not yet been forgiven, may defer deposit and payment of the employer's share of social security tax that otherwise would be required to be made beginning on March 27, 2020, through the date the lender issues a decision to forgive the loan, without incurring failure to deposit and failure to pay penalties.

IRS 'Get My Payment' application

CARES Act Provider Relief Fund - US Department of Health and Human Services (HHS)

The CARES Act – Tax Relief for Individuals and Businesses – Rodolfo Paredes, CPA, Tax and Director of International Division

Additional Deadline Extension for Federal Taxes (4/9/2020)

The IRS has expanded its March announcement of extended filing and payment deadlines for federal income taxes to include most taxpayers that have a filing or payment deadline falling on or after April 1, 2020 and before July 15, 2020. This includes second quarter 2020 estimated payments which are now due on July 15, 2020. Anyone, including Americans who live and work abroad, can now wait until July 15 to file their 2019 federal income tax return and pay any tax due.

Read more.

Deadline Extensions for Federal Tax

The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can't file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.

Note: second quarter federal estimated payments are due July 15, 2020.

Read more.

Deadline Extensions for State of Arizona

The Arizona Department of Revenue (AZDOR) has announced it has moved the deadline for filing and paying state income taxes from April 15 to July 15, 2020 following direction today by Governor Doug Ducey. This is consistent with Treasury Secretary Steve Mnuchin’s announcement that the Internal Revenue Service (IRS) has moved the deadline for 2019 federal tax returns to July 15, 2020. However, the state has not extended the payment deadline for first quarter 2020 estimated tax payments, which are still due April 15, 2020.

The announcement by ADOR includes individual, corporate and fiduciary tax returns.

Note: second quarter Arizona state estimated payments are due June 15, 2020.

Read more.

Small Business Resources

Current resources available for small businesses in Arizona.

Disaster Assistance

COVID-19 Resources

Health and Human Services

Maintaining healthy habits such as social distancing, frequent hand washing, not touching your face, staying home when sick, covering coughs/sneezes and cleaning common areas remain paramount. Get more helpful tips and information below:

Arizona Department of Health Services

Center for Disease Control & Prevention

World Health Organization

Banner Health: Symptom Checker

CDC: Interim Guidance for Businesses and Employers

Families First Response Act - Emergency Paid and Expanded Family Leave

In an effort to provide employees paid family and medical leave and paid sick leave in response to the COVID-19 pandemic, Congress recently passed The Families First Coronavirus Response Act (the Act). The Act will take effect on or by April 2, 2020.

IRS Coronavirus Paid Leave and Tax Credits

Understanding the New Families First Coronavirus Response Act – Dave Samer, CPA, R&A Senior Tax Manager

Cybersecurity & Fraud

FBI SEES RISE IN FRAUD SCHEMES RELATED TO THE CORONAVIRUS (COVID-19) PANDEMIC

Scammers are leveraging the COVID-19 pandemic to steal your money, your personal information, or both. Don’t let them. Protect yourself and do your research before clicking on links purporting to provide information on the virus; donating to a charity online or through social media; contributing to a crowdfunding campaign; purchasing products online; or giving up your personal information in order to receive money or other benefits. The FBI advises you to be on the lookout for the following:

Fake CDC Emails

Watch out for emails claiming to be from the Centers for Disease Control and Prevention (CDC) or other organizations claiming to offer information on the virus. Do not click links or open attachments you do not recognize. Fraudsters can use links in emails to deliver malware to your computer to steal personal information or to lock your computer and demand payment. Be wary of websites and apps claiming to track COVID-19 cases worldwide. Criminals are using malicious websites to infect and lock devices until payment is received.

Phishing Emails

Look out for phishing emails asking you to verify your personal information in order to receive an economic stimulus check from the government. While talk of economic stimulus checks has been in the news cycle, government agencies are not sending unsolicited emails seeking your private information in order to send you money. Phishing emails may also claim to be related to:

The FBI is reminding you to always use good cyber hygiene and security measures. By remembering the following tips, you can protect yourself and help stop criminal activity:

  • Do not open attachments or click links within emails from senders you don't recognize.
  • Do not provide your username, password, date of birth, social security number, financial data, or other personal information in response to an email or robocall.
  • Always verify the web address of legitimate websites and manually type them into your browser.
  • Check for misspellings or wrong domains within a link (for example, an address that should end in a ".gov" ends in .com" instead).

If you believe you are the victim of an Internet scam or cyber-crime, or if you want to report suspicious activity, please visit the FBI’s Internet Crime Complaint Center at www.ic3.gov.

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