COVID-19 Resources
During this unprecedented time, we are drawing on our 45 years of experience in helping our clients navigate through the most urgent and challenging situations. In a crisis, the foremost concerns must be personal health and safety—of our families, our employees and our clients. Our firm exists to protect our clients’ businesses and help you manage through the most complex of challenges.
Throughout this period, we will be available to you as always via email and phone. Click here for a list of direct phone extensions.
Please do not hesitate to reach out.
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Important Industry and Economic Updates
State of Connecticut
- Connecticut's COVID-19 Business Resource Portal
- Latest Updates form Connecticut’s Official State Website
- Connecticut Small Business Development Center Updates
- Filing Extension Deadline for Certain Annual State Business Tax Returns, Department of Revenue
Federal Government
The CARES Act
- ASC 740 Income Taxes – Implications of COVID-19 and the CARES Act
Highlighting observations and insights from an ASC 740 perspective that companies should consider as they confront these challenges to their businesses.
- Coronavirus Aid, Relief and Economic Security Act Signed Into Law
Summary provided by GDS
- Individuals: What You Need to Know About the CARES Act
A summary of relief provisions enacted in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, enacted on March 27, 2020.
CDC Information
Paycheck Protection Program Loans from SBA
Please note that documents listed below are applicable to businesses that have wages including sole-proprietors (Schedule C businesses including single member LLC's), Not-For-Profits, Partnerships, and Corporations.
- SBA - Small Business Guidance & Loan Resources
- Paycheck Protection Program Application Form (pdf)
- Paycheck Protection Program (PPP) Information Fact Sheet:: Borrowers (pdf)
- Coronavirus Emergency Plans - Small Business Guide and Checklist (pdf)
- Paycheck Protection SBA 7(A) Loan Program - BDO Webinar on Loans and Credits CARES Act (pdf)
Internal Business/Practice Guidance
- State Filing and Payment Extension Chart (updated 3/27/20) (Excel file)
- Credits & Incentives Relief Programs (updated 3/24/20) (Excel file)
- Tips for Restaurant Clients (pdf)
- Tips for Retail Clients (pdf)
- IRS Filing and Payment Deadlines Q&A
- AICPA Resource Center
Preparing For the Business Impacts of COVID-19
Tax Impacts
- IRS Releases FAQs Regarding July 15, 2020, Postponed Income Tax Filing And Income Tax Payment Date (pdf)
- SBA Disaster Assistance in Response to the Coronavirus – Low-Interest Loans (pdf)
- IRS Outlines Procedures for Payroll Tax Credits and Rapid Refunds for Employers Making Federally-Mandated COVID-19 Leave Payments (pdf)
- How To Determine If An Employer Has "Fewer Than 500 Employees" For COVID-19 Federal Paid Sick And Family Leave Mandates (pdf)
- Federal Aid Package Helps Individuals Affected by COVID-19 (Families First Coronavirus Response Act) (pdf)
- Employers Can Immediately Provide Tax-Free Qualified Disaster Payments To Employees In Connection With COVID-19 (pdf)
- IRS Releases COVID-19 Payment Relief (updated 3/23/20) (pdf)
Advisory
- Managing Your Risk During the COVID-19 Crisis (pdf)
- Novel Coronavirus (COVID-19) Impact and Risk Response Guide (pdf)
- COVID-19 Data Security Insight (pdf)
- Privacy in the Time of Pandemic (pdf)
- Determining Your Infectious Disease Risk during COVID-19 Outbreak (pdf)
- Secret Service Issues COVID-19 (Coronavirus) Phishing Alert (pdf)
- Top Cybersecurity Recommendations Amid COVID-19 (pdf)
Industry
- OMB Guidance Provides Relief to Federal Award Recipients Amid COVID-19 (pdf)
- How Manufacturers Can Navigate the Novel Coronavirus’ Supply Chain Impacts (pdf)
- Coronavirus Could Bring New Financial Pressures to Distressed Healthcare Industry – Supply Chain Insights (pdf)
Nonprofits
- Coronavirus Strikes Nonprofits in More Ways than One (pdf)
- How does the CARES Act Help Nonprofits and Higher Education Institutions?
As nonprofits and institutions grapple with both the increasing need for services and prolonged economic instability, the CARES Act provides some reprieve.