What’s new in 2020? Find tax tips now!
Working abroad? Earning foreign income? Plan ahead.
IRS third-round voluntary disclosure information & May’s articles About CARES Act
Dear Clients,
In this difficult time of fending off pandemic, let me extend my warm regard to you and your family. Wish you safe and healthy.
To rescue the economy disrupted by COVID-19, the US Congress and the President acted swiftly to pass and sign into law the “Coronavirus Aid, Relief and Economic Security Act(CARES Act).” This Act provides two trillion-dollar aids to individuals, businesses, state and local governments. Many of you have questions about how to qualify and apply for the aids. In this letter, we provide useful sources for you to seek help.
Attached please find a summary of the CARES Act in English, Traditional Chinese, and Simplified Chinese. We also provide the links to the websites in the summary to help you apply for the government aids step by step. Telephone calls to government agencies may take hours at this time of the season. My summaries and links should save you some time and trouble.
I have tried the Employer Emergency Loan applications; they are not very difficult to comprehend, but you must fill in your business income and expenses from February 1st, 2019 to January 31st, 2020 and provide your company’s 2019 wages. Please get your records ready and we will help you compile the financial reports as soon as possible. The government funding may run out very soon. Please act quickly.
We are here to help you go through this difficult time. If you have any questions, please give me a call. If you can’t reach me at 415-347-7666, please call my cell phone at 415-810-0545.
CARES Act Summary Traditional Chinese
CARES Act Summary Simplified Chinese
May Ho, CPA
InterTax Inc.
About CARES Act
