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We are still working!

Our office is closed to the general public, but we are seeing clients by appointment only.  Masks are required to enter our office.

You can also mail your documents to us, drop them off through our mail slot, or email them to us.

We look forward to returning to normal operations after this threat passes.

Impact of COVID-19

In an effort to help slow the spread of COVID-19, we continue to take steps to ensure the health and safety of our employees so that we can continue to provide you with the services you need.  The majority of our staff are now working a modified schedule which includes both working in the office and remotely from home.  For those in the office daily, we are practicing social distancing as recommended by the Center for Disease Control and Prevention, as well as wearing masks during meetings and when social distancing cannot be observed.  We have locked our office doors and are conducting appointments via telephone and GoToMeeting.  Incoming mail and other documents are “quarantined” for 24 hours.  You may mail us documents through the postal service, upload through our secure portal (contact us for a link), or drop paperwork through the mail slot at our entrance. We are using the postal service and our secure portal to deliver tax returns.   For clients wishing to pick up tax returns and other documents we have implemented curb-side service.

Be assured, we are still working diligently to prepare your returns and to keep abreast of new developments with the Internal Revenue Service (IRS), Oregon Department of Revenue (ODR), and Small Business Administration (SBA). 

If you still have not received your initial Economic Impact Payment via check or debit card, you can check the status of it here - https://www.irs.gov/coronavirus/get-my-payment

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IRS and State of Oregon tax returns and payments

Now that we passed the initial tax filing extension date of July 15, 2020 here are the updates for fall:

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·        10/15 – Individuals (1040,1040-SR) tax returns due if you filed an extension.

·        10/15 – C Corporations (1120) due if an extension was filed.

Additionally, the IRS and Oregon Department of Revenue due date for 2020 3rd quarter estimates is September 15, 2020.

The IRS website https://www.irs.gov/coronavirus has links to all the IRS press releases.

Retirement account Required Minimum Distributions are not required for the 2020 tax year.  If you took a RMD in 2020 and would like to redeposit it, the IRS extended the 60-day rollover period for any RMDs taken between January 1-June 30 to August 31:

https://www.irs.gov/newsroom/irs-announces-rollover-relief-for-required-minimum-distributions-from-retirement-accounts-that-were-waived-under-the-cares-act

Financial Assistance

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SBA Payroll Protection Loan Forgiveness Frequently Asked Questions:

https://www.sba.gov/sites/default/files/2020-08/PPP%20--%20Loan%20Forgiveness%20FAQs%20%28August%2011%2C%202020%29-508.pdf

SBA Paycheck Protection Loan Program Forgiveness Application

https://www.sba.gov/document/sba-form-paycheck-protection-program-loan-forgiveness-application

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IRS Notice 2020-32:  Guidance regarding the deductibility of PPP loans.

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The SBA has a guide to the CARES Act https://www.sbc.senate.gov/public/_cache/files/9/7/97ac840c-28b7-4e49-b872-d30a995d8dae/F2CF1DD78E6D6C8C8C3BF58C6D1DDB2B.small-business-owner-s-guide-to-the-cares-act-final-.pdf  and has several options available for financial assistance https://www.sba.gov/funding-programs/loans/coronavirus-relief-options.

SBA Payroll Protection Program Loan Application:

https://www.sba.gov/document/sba-form--paycheck-protection-program-borrower-application-form

Payroll Protection Program Fact Sheet:

https://home.treasury.gov/system/files/136/PPP--Fact-Sheet.pdf

The AICPA has provided a stimulus check calculator:

https://www.aicpa.org/content/dam/aicpa/interestareas/tax/resources/cares-act-stimulus-calculator.xlsx

Unemployment Insurance during COVID-19 Outbreak:

Federal -https://www.dol.gov/coronavirus/unemployment-insurance#OR

Oregon - https://www.oregon.gov/employ/Documents/COVID-19%20OED%20Resources%20for%20Employers%20and%20Workers.pdf

Summary of the Cares Act :

https://www.wyden.senate.gov/imo/media/doc/Summary%20of%20COVID-19%20bills%20and%20Available%20Resources.pdf

Various other sources of financial assistance:

https://oregoncf.org/grants-and-scholarships/grants/oregon-small-business-stabilization-fund/

Keep the Facebook Small Business Grants program

https://www.opb.org/artsandlife/article/emergency-funds-for-artists-and-freelancers-covid-19-pandemic/

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We will update this page as information becomes available.