Lanigan Ryan’s COVID-19 update & resource center has the latest tax news and resources that pertain to you and your business during the COVID-19 pandemic.
COVID-19 Updates
2021
- March 29: IRS extends additional tax deadlines for individuals to May 17, 2021
- March 19: DC Extends the deadline to file and pay all income tax returns until May 17, 2021
- March 19: Virginia Individual Income Tax Filing and Payment Deadline Extended to May 17, 2021
- March 17: Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline
- March 11: President Signs American Rescue Plan Act of 2021 into Law Providing Additional COVID-19 Relief Measures for Businesses, Individuals
- February 16: Maryland RELIEF Act Creates Changes for Tax Filers
- January 11: SBA Releases New and Updated PPP Loan Applications
- January 6: MD Comptroller Peter Franchot announced tax filing and payment extensions
2020
- December 27: President Signed New Stimulus Package
- December 21: Congress Passed New Stimulus Package, $900B of COVID-19 Relief Provisions
- November 18: IRS confirms nondeductibility of PPP related expenses
- September 1: President’s Executive Order On Payroll Tax Starts Today
- August 4: SBA Releases Frequently Asked Questions (FAQs) on PPP Loan Forgiveness
- July 6: Paycheck Protection Program Reopened; New Deadline to Apply is August 8
- June 18: Last Chance to Apply for Paycheck Protection Program Loan
- June 17: SBA Releases New EZ PPP Loan Forgiveness Application
- June 5: Paycheck Protection Program Flexibility Act Signed Into Law
- May 22: SBA Releases New Guidance on PPP Loan Forgiveness
- May 15: PPP Loan Forgiveness Application Released by SBA
- May 13: SBA and Department of Treasury Issue New Guidance on Good-Faith Certification Under the Paycheck Protection Program
- April 30: IRS Will Disallow Deductions Related to Forgiven Loans Under the Paycheck Protection Program.
- April 9: IRS extends more tax deadlines to cover individuals, trusts, estates corporations and others.
- April 1: Maryland has announced tax deadline extension to July 15 available to all taxpayers.
- March 31: Recovery Rebate Payments to be Issued Within 3 Weeks.
- March 26: DC estimated tax payment deadlines remain unchanged.
- March 24: Fairfax County, Virginia vehicle and business tax filing deadline extended to June 1; first real estate tax payment deadline extended to August 28.
- March 23: DC has extended tax filing and payment deadline to July 15.
- March 21: Federal tax deadline for filing and payments extended to July 15. (This includes 2020 estimated tax payments originally due April 15.) The IRS answers frequently asked questions about the filing and payment deadline, including those related to retirement account contributions and filing extension requests.
- March 20: Virginia has extended tax payment deadline to June 1. Although filing deadline was not extended, 6 month automatic filing extension continues to be available.
Resources for Individuals & Businesses
- Resources Available by State: There are many resources available to residents and businesses by state which include business closures & restrictions, information on extension of unemployment benefits, as well as immediate loans and grants that your business may qualify for.
- Resources for residents and businesses in the state of Maryland
- A few business resources we would like to highlight are the Maryland Department of Labor’s Layoff Aversion Fund, as well as 3 emergency relief fund programs through the Maryland Department of Commerce.
- Resources for residents and businesses in the state of Virginia.
- Resources for residents and businesses in the District of Columbia.
- Resources for residents and businesses in the state of Maryland
- Small Business Administration:
- Families First Coronavirus Response Act
- 5 Key Business Provisions of the CARES Act
- Key Individual Provisions of the CARES Act
- U.S. Department of the Treasury:
Previous Webinars
Revamped Eligibility Rules for COVID-19 Relief Provisions: PPP Loans & Employee Retention Credit
Available on demand (Password: &p6H2$Xb)
Please note that the information contained in this recording is based on guidance through January 26, 2021. Updated guidance can be found on the Department of the Treasury website and the IRS website.
Getting the Most Out of Your PPP Loan: The Latest Guidance on Loan Forgiveness
Available on demand (Password: 5n#^h0$7)
Please note that the information contained in this recording is based on guidance through May 26, 2020. Updated guidance can be found on the Department of the Treasury website.
Top Business & Tax Provisions of the CARES Act
Available on demand
Please note that the information contained in this recording is based on guidance through April 3, 2020. Updated guidance can be found on the Department of the Treasury website.
As always, Lanigan Ryan will continue to monitor this evolving situation and add updates to our resource center as they become available. As an “essential” business in the state of Maryland, we will continue to work for clients to meet upcoming deadlines, while emphasizing the safety of both our clients and our team. Please know that your Lanigan Ryan team members are always available for questions.
Updated 3.30.21
