COVID-19 Resources

IMPORTANT INFORMATION:

Thank you for trusting our firm for your Accounting needs.  We understand how frustrating the past 15  months have been.  We are experiencing frustrations on our end as well, as things change on an almost daily basis.  The IRS mess has continued to grow as the 2020 tax season is trying to progress and the 2019 tax season is still ongoing. 

The IRS has stated that their Service Centers are still not fully staffed.  Most are under 50% at this time.  Certified mail is not being picked up at the post offices and as of now there are still over 30 million unprocessed returns, payments and responses still sitting in semi-trucks and warehouses.  https://www.cbsnews.com/news/tax-refund-delay-irs-2021/

The IRS is still sending out automated notes and responses.  The IRS agents are aware of this and their response is to be patient and they will get to them eventually.  There is an approximate 60 day response time to any issue.  This is not anything our office can control.  We will update you when we have an update.  Daily or weekly emails and calls to our office only backs up our processes. We are keeping on top of things and will update you as we can.  Until then, please be patient.   The backlog of IRS processing is also affecting the IL Department of Revenue. Collections are not processing despite threatening letters.  

We do have a plan of attack.  First,  do everything electronically if possible.  Get our office copies of everything by uploading thru the portal or dropping off copies at our offices.  Document EVERYTHING!  Track all payments and submissions via certified mail.  We will resume follow ups by June 1, 2021 once this current tax season filing deadline has passed.  Also, please utilize the new e-services options as much as possible. 

Again,  thank you for your trust and please remain calm as we all are going thru this together.  We will let you know as soon as we have any information on your accounts. 

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Business Resources

Business Task Sheet - Items needed to complete

US Small Business Administration - Coronavirus Relief Options

Economic Injury Disaster Loan - Emergency Advance

Small Business Paycheck Protection Program - 1st Draw

Small Business Paycheck Protection Program - 2nd Draw

Small Business PPP Loan Forgiveness Application (Form 3508)

US Small Business Administration PPP Loan Forgiveness Calculator

US Small Business Administration Debt Relief Program


. Individual Resources

Tax Refunds delayed for millions as IRS processes backlogs

IRS Delays Tax Deadline until May 17

Lawmakers tell IRS to stop sending incorrect tax delinquincy notices

If you didn't get the full Economic Impact (Stimulus) Payment you may be eligible to claim the Recovery Rebate Credit.

IRS Get My Payment Link*

*If Get My Payment does not provide a payment date, a payment will not be issued and you may claim the Recovery Rebate Credit, if you’re eligible. You must file a 2020 tax return to claim the credit even if you usually don’t file.

US Treasury Launches $25 Billion Emergency Rental Assistance Program

Frequently Asked Questions on Virtual Currency Transactions

American Rescue Plan Act Passes with Many Tax Components