Local Business

Nice article

https://www.floridabusinesstoday.com/the-profits-doctors-todays-solutions-tomorrows-strategies/

President Donald Trump signed into law a $2 trillion relief package "promising to deliver a tidal wave of cash to individual Americans, businesses and health care facilities all reeling from the coronavirus pandemic," per The Washington Post. The largest stimulus in modern American history got final House approval hours earlier despite one congressman calling a quorum — some lawmakers are under stay-home orders due to the virus. The measure comes as U.S. cases top 100,000, more than any other country, and after a record 3.28 million Americans applied for jobless benefits amid mass layoffs tied to the contagion.

Highlights of the bill include:

More than $350 billion to aid small businesses
$150 billion to hospitals and other health care providers for equipment and supplies
Direct payments in early April to lower- and middle-income Americans of $1,200 for each adult, as well as $500 for each child
Unemployment insurance extension to four months, plus an extra $600 weekly, with more workers eligible
$500 billion for distressed companies, including industry-specific loans for airlines, hotel companies and others battered by the economic downturn

We know that the Coronavirus is impacting our community, and our nation, causing multiple precautions in our day-to-day lives. In light of the current situation I wanted to update you on matters that are important.

Federal Tax Deferral
On March 17, 2020 Treasury Secretary Mnuchin announced that TAX RETURNS ARE STILL DUE APRIL 15. However, payments that are due on April 15th, or due with an extension on April 15th, may be delayed until July 15, 2020 without penalty or interest. If the return is not timely filed, or properly extended the 90-day relief will not apply.

The maximum amount of deferral is $1,000,000 for an individual and $10,000,000 for a corporation.

Refunds are unaffected. Within 90 days of April 15th the amount is due, without penalty or interest, and the IRS says they will not assess penalty or interest. Underpayment penalties for periods before April 15th appear to still apply.

I will keep everyone updated as more information for economic recovery and sustainabilty are made available.

Trump Administration Quietly Goes After Disability Benefits
A proposed regulation would add a new layer of scrutiny to disability claims.

Read in HuffPost:

Trump Administration Quietly Goes After Disability Benefits — HuffPost A proposed regulation would add a new layer of scrutiny to disability claims.