COVID-19 & Important Updates

Areas of Service

Payroll Protection Plan Update – June 4 2020

On June 3rd the Senate unanimously approved a bill that provides much-needed clarity and makes it easier for borrowers to have their Payroll Protection (“PPP”) loans forgiven. A couple of …

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SBA and the Treasury Department released additional guidance creating a Safe Harbor

On May 13th the SBA and the Treasury Department released additional guidance creating a Safe Harbor for the good-faith certification concerning the necessity of the loan request. When submitting a …

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PPP and Deductions

The IRS Released Notice 2020-32 which provides guidance on the deductibility of expenses paid with Paycheck Protection Program (PPP) loan proceeds that are partially or completely forgiven and excluded from a taxpayer’s …

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Latest PPP Update

Some banks and other PPP lenders are sending PPP applicants and recipients emails informing them of new guidance for the Economic Uncertainty Certification. What this new requirement means for PPP …

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Tax Deadline for Second Quarter 2020 Estimated Tax Payments

On April 10th, the IRS announced the tax deadline for Second Quarter Estimated Tax Payments for individuals, trusts, estates, and corporations has been extended from June 15th to July 15th.  …

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CARES ACT – Business Provisions

On Wednesday evening March 25, 2020, the Senate passed an updated version of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill builds upon earlier versions of the …

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CARES ACT – Individual Provisions

On Wednesday evening March 25, 2020, the Senate passed an updated version of the Coronavirus Aid, Relief and Economic Security (CARES) Act. The bill builds upon earlier versions of the …

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Tax Day now July 15: Treasury, IRS extends filing deadline and federal tax payments regardless of amount owed

IR-2020-58, March 21, 2020 WASHINGTON – The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, …

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Small Business Administration (SBA) Loan Information

Please see the below letter regarding the Economic Injury Disaster Loan program. —— Governor Mike DeWine, Lt. Governor Jon Husted, and Ohio Development Services Agency Director Lydia Mihalik announced on …

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Ohio has issued a Stay at Home order, but Burke & Schindler remains open as we are an essential business.

On Sunday, March 22nd, the state of Ohio issued a Stay at Home Order effective 11:59 p.m. on March 23, 2020, until 11:59 p.m. on April 6, 2020. This order …

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Families First Coronavirus Response Act

There have been a number of questions about the recently announced Families First Coronavirus Response Act. While the Act is yet to be finalized, please see below for a summary …

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COVID-19 & 2019 Tax Filing

We at Burke & Schindler hope you and your families are safe and healthy in the midst of the COVID-19 Crisis. These are challenging and uncertain times. In the hopes …

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