Luft & Company, P.C.
Category
General Information
Locality: Willow Grove
Phone: +1 215-659-3200
Address: 301 Davisville Road 19090 Willow Grove, PA, US
Website: www.luftcpa.com
Likes: 194
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Philadelphia Offers Tax Filing Extensions During COVID-19 The City is going to recognize the federal extensions provided to businesses from the IRS for filing a...nd payments up until July 15, 2020. For commercial and residential property owners that are not capable of paying their Real Estate Tax on March 31, the Department of Revenue will offer an extended deadline of an additional 30 days. The due date for 2020 Real Estate Taxes is now April 30, 2020. The deadline to apply for an installment payment plan for 2020 Real Estate Tax has also been extended until April 30, 2020. These plans have always been readily available to all seniors as well as low-income homeowners. Taxpayers who are able to file and pay their taxes by April 15, 2020, are strongly recommended to do so. This will certainly help ensure continuity of City and School District operations.
Unemployment Charges Relief for Employers forced to reduce staff due to COVID-19 Most states, including Pennsylvania, have lightened some of the expected burden... on effected employers. Ultimately all employers and many employees will probably see rate surcharges down the road as the funds need replenishing, but this is welcome relief for some employers wrestling with employment decisions right now. See more
The City of Philadelphia, along with the Philadelphia Industrial Development Corporation (PIDC), launched the COVID-19 Small Business Relief Fund, with over 9 m...illion dollars in grant and loans designed to assist Philadelphia small businesses, maintain payroll expenses as well as protect jobs affected by COVID-19 virus. On top of the 9 million commitment of City and PIDC funds, another $250,000 is going to be provided by the Daniel B. and Florence E. Green Foundation. Philadelphia COVID-19 Small Business Relief Fund The Philadelphia COVID-19, Small Business Relief Fund, is going to be a tiered strategy delivering targeted assistance for small business owners, which faces an extraordinary challenge as a consequence of the ongoing global pandemic. The fund provides a mixture of new grants as well as zero-interest loans for businesses that generate under $5 million in annual revenue. Tiers include: Microenterprise Grants $5,000 per business for businesses with less than $500,000 in yearly revenue. Small Business Grants Up to $25,000 per business for businesses with annual revenue between $500,000 and $3 million. Small Business Zero-Interest Loan Up to $100,000 per business for businesses with annual revenue between $3 million and $5 million. The COVID-19 Small Business Relief Fund had been developed to respond to needs recognized in the COVID-19 Business Impacts survey, that had been sent out recently. Businesses are able to submit an application for assistance from the fund at www.phila.gov/COVID-19-business-relief. As soon as all final application materials are received, the review, award decision, and disbursement process is should take close to two weeks. Top priority is going to be given to businesses that demonstrate a loss of revenue of over 50 percent of average revenue, a strategy for recovery, as well as a commitment to holding onto their employees as long as possible.
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