DPW Help Center
- A resource for tax issues related to COVID-19 and the 2020 tax season*
Updates & Alerts
EXPENSE DEDUCTION DISALLOWED FOR 2020 IF PPP LOAN FORGIVENESS ANTICIPATED IN 2021
NOVEMBER 2020The IRS released a revenue ruling (Revenue Ruling 2020-27) on November 18, 2020 that addresses the timing of eligible expense deductions for taxpayers that
TAX IMPLICATIONS AND INCENTIVES FOR PHYSICIAN PRACTICES IN AN AGE OF COVID-19
The rapidly-changing regulatory environment and what this means for physician practices COVID-19 has changed the way physicians practice medicine. The CARES Act has put forth
Forgiveness of PPP Loans May Reduce R&D Credit
BACKGROUND The forgivable loan program known as the Paycheck Protection Program (PPP) was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial resources
IRS Extends Relief For 2020 RMD Waivers And Rollovers
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020, waived required minimum distributions (RMDs) from tax-qualified defined contribution retirement plans
IRS Delivers Temporary Midyear Relief to 401(K) And 403(B) Safe Harbor Plans
Plan sponsors that have already or are considering reducing or suspending contributions to their safe harbor 401(k) or 403(b) plans as a result of the coronavirus pandemic now have
Guidance Issued On Payroll Tax Deferral
On Saturday, August 8, 2020, President Trump took executive action and signed four Coronavirus Pandemic Relief orders to provide immediate and vital relief to Americans
OVERVIEW PAGES
Government Assistance - Businesses
Paycheck Protection Program (PPP)
Understanding PPP, SBA loans for payroll and related expenses, Options for loan forgiveness (CARES Act)
Steps AFTER YOU HAVE the PPP Loan
Steps to ensure PPP loan forgiveness
EMERGENCY IMPACT DISASTER LOAN (EIDL)
EIDL Low-interest disaster loans including for economic disasters, EIDL Advance information
Additional Funding Options
Funding options for businesses including the SBA Bridge Loan and Debt Relief
Tax Rebates and TAX Credits
Tax rebate for Individual TaxPayers
Recovery Rebate for individual taxpayers, plus other important benefits, CARES Act
Families First Coronavirus Response Act (FFCRA)
Understanding FFCRA, EPSL and EFML Tax Credits for Businesses, Paid Leave and Potential Hardship Exception
Employee Retention Tax Credit (ERTC)
50 percent refundable payroll tax credit on wages, CARES Act
UNemployment insurance
IRS - Getting Paid
Receive $600 weekly unemployment claim
UNEMPLOYMENT INSURANCE (UI)
Understanding Provisions, CARES Act
Stay Informed
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Important Deadlines
Deadline Adjustments
- 2019 filings due April 15 are now due July 15, 2020, Individuals, Corporations, and Estates
- No extension needed for most states (including Oregon)
- Quick refund option for corporations, use IRS form 4466
DeadlineS NOT AdjustED
- Oregon CAT Tax 1st quarter payment is still due on April 30, 2020
- Estimated Oregon Quarterly Income Tax payments were not extended. First quarter payment due April 15, 2020, second quarter June 15, 2020, third quarter September 15, 2020, and fourth quarter January 15, 2021
Deferring Payments Until July 15, 2020
- Federal 1st and 2nd Quarter 2020 estimated tax payments (income and self-employment taxes)
- Exception: Transition tax installment payments
IRS - Getting Paid
You may have friends or family asking how they can receive the $600.00 per week through the federal government as part of their unemployment. When the person is filing out their weekly unemployment claim with their phone, they can either use the mobile app or go to the mobile website. THEY MUST GO TO THE WEBSITE! They will go through the yes/no questions and check that they are not looking for work, as they have a job to go back to after the COVID-19 ban is lifted or their employer has them back. At the bottom of that page, there is a box to check that says they are not working due to COVID-19. This box DOES NOT show up on the mobile app, only on the website. Click this box. This money is retroactive.
Below is the link to the IRS site regarding payments. You should check periodically, as the site is being updated to facilitate auto-deposits.