New Families First Coronavirus Response Bill

Things everywhere are in a state of flux as the government and businesses wrestle with how to handle the impacts of COVID-19.

We at Intrust CPA are doing our best to keep up with the ever-changing environment and what these changes mean for clients like you.

New Families First Coronavirus Response Bill

On Wednesday, March 18th the Senate and the President passed HR6201 – Families First Coronavirus Response Bill – a response by the government on how to handle unemployment and sick leave as a result of the significant impact to the labor force as a result of COVID-19.

There are both employer REQUIRED actions (which have much further reach than we would expect) and potential SAVINGS/FUNDS that are available.

As detailed accountants, we normally would wait to provide information until we are assured of the final implications and specifics to craft a well thought out response.  However, given the fluidity of the situation – we felt it important to get information out to our clients sooner rather than later.  Because of this, we held a live tele-conference Wednesday night covering some of the key components of this bill and how it will impact EVERY business and self-employed individual.

In case you missed it, here is the replay:

CAVEAT – This is fluid and NOT final.

While the legislation was finalized on Wednesday, it still needs to work through the system and practical application to be figured out.
We are providing this link at the risk that the information we presented was still in draft form at the time it was presented. If you are willing to understand this key fact, we invite you to watch the session now.

We also suggest that if there is anything that is discussed in the video that you have questions on, or if you want to talk in general regarding your SPECIFIC situation, please call our office. There is application on how this can apply to EVERY business out there – both as required obligations as well as cost saving tax credits that may be available.

We are here and available via phone, video conference, or email.

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