FSW&B CPAs PLLC

If you are a small business or an independent contractor you may be able to get assistance or a loan with favorable terms. However because this is really uncharted territory there are many traps and pitfalls. Making the right decision on which program fits the best for your business is critical. We are not currently scheduling any face to face appointments, however we can do a phone consultation to discuss your best options. If you are interested in exploring these options schedule quickly as our available slots are filling up fast.

If you are self employed and your business is closed due to Governor Stint declaring it a non-essential business, you may be able to apply for unemployment compensation under the extended unemployment benefits that are part of the Economic Relief Act which was passed and signed into law last week.

Here is the basic relief that has been offered by the IRS on filing due to Corona virus. * Filing deadline is now July 15th for Forms 1040 (individuals), 1041 ( fiduciaries and estates) , and 1120 (C corporation) * NO postponement for Partnerships and S Corporations that were due on March 15th (unless timely extension filed) *No postponement for entities with a due date other than April 15th (at least not at this time).... *Postpone payment of amounts due with tax return until July 15th without interest or penalty. *Postpone payment of 1st quarter estimates until July 15th. *Second quarter estimate which is normally due on June 15th has not been postponed (yet...) *Can make timely IRA and HSA contributions through July 15th for 2019 instead of normal April 15th. *Normal extensions available after July 15th which will extend time to file returns but not to pay until October 15th. See more

We are finally getting some details on the first Corona Virus Economic Relief bill. We will be posting some general information about that bill on this page. If you need assistance in determining how to implement these provisions for your business, please contact us and we will be glad to assist you.