COVID-19 Resources

PAYROLL PROTECTION PROGRAM – APPLICATION UPDATE   BiggsKofford’s PPP Support Team has been actively assisting clients with the calculations needed to complete Payroll Protection Program (PPP) loans. The law was only passed 10-days ago (amazing what has happened in just 10-days). In that time, the SBA has released a draft application, initial borrower and lender…

The Coronavirus Aid, Relief and Economic Security (CARES) Act is a reality! Our clients are now asking, “How do we apply?”  The SBA must now write rules and regulations to give specific instructions for these loans.  Those rules are expected in the coming days and weeks. So, you can’t actually apply for one of these…

We at BiggsKofford recognize the SBA Forgivable Loan Program noted below will be of significant interest to our clients. We are already in discussions with many of the largest and most active SBA lenders to prepare for the application process in advance. These lenders are telling us the SBA will need to issue specific regulations…

*Updated as of 3/30/2020* COVID-19 Small Business Response Checklist Small Business Owners are being stretched and challenged by the recent COVID-19 crisis. In addition to the health and operational changes, Small Business Owners are facing unprecedented financial pressures. Meanwhile, governmental programs and new laws are being announced daily – in an attempt to help. This…

The Work-Share Program Thinking of laying off employees? Consider the Work-Share Program. The Work-Share Program provides an alternative to laying off employees by allowing them to keep working, but with fewer hours. While an employee is working fewer hours, he or she may be eligible to collect part of his or her regular unemployment benefits.…

Paid Leave Benefits Amid Coronavirus Crisis If you work for the government, or for a company with fewer than 500 employees: Most workers at small and midsize companies can get the paid leave, as can government employees, as long as they’ve been employed at least 30 days. You will be eligible for two weeks of…

Filing Your Taxes   Taxpayers will get three additional months (7/15/2020) to pay their 2019 income tax liability without penalties or interest.  As part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed.  Taxpayers won’t be subject to interest…