Coronavirus Tax Alert
Note to our Readers:
I think all of us here at Burton & Co can safely say this that last year was the strangest tax season we’ve been through in nearly 40 years. In 2021 a lot of things are still happening, and some big headlines are coming out daily that impact your paychecks, taxes, health care, businesses…basically every facet of life. This page hopes to share the most relevant news to help you sift through the noise. It is official that most stimulus checks will be deposited on or around March 17, 2021.
We love you and we’re here for you. The team has transitioned entirely to remote working (no small feat for our industry!) and we’re moving forward with tax season because we don’t want your taxes to loom over your head any longer than they need to. Please bear with us though as we try to focus our immediate bandwidth to our small business clients in urgent need of COVID relief programs.
To Prospective Clients:
We hear you and want to help! Our response times may be a bit slower but with the help of tax filing and payment relief, we have time on our side.
Personal Tax Relief
IRS official website for the Coronavirus.
Be aware that, in response to the COVID-19 pandemic, on March 17 the U.S. Treasury and IRS postponed some - but not all -- of the April 15, 2021, due dates to May 17, 2021. It's possible there could be additional extensions, so check with your tax advisor for the latest information. (updated 3.16.21)
SMALL Business Tax Relief
IRS announcement for newly enacted Paid Family Leave and small business tax credits (updated 3.21.20)
Brief overview of “Families First” Act. (update 3.21.20).
State by state list of relief efforts and information links.
Practical considerations: 1. Document everything! 2. Yes, self-employed individuals are eligible!
How Burton & Co Can Help
Please keep in mind, this is just as new for us as it is for you! As news and programs roll out we’re here to help with everything from good, old fashioned tax returns to program aid applications, financial reporting, cash flow modeling, expense analysis, business consulting, payroll administration of new credits (ADP, Gusto, Justworks, and more). Check back with us for additional information as we will post any changes once we receive them.