Jennings & Clouse, PLC is committed to help you with your financial and accounting questions and provide resources during this time. Please call or email us if you have any specific questions.
** Please note that there are references below to third party websites. We do not update or control information listed on these third party websites.
* Internal Revenue Service
** The 2020 federal tax return due dates for individuals have been extended to May 17, 2021.
- Economic Impact Payments – Click HERE to check status of your payment or to enter information for the payment.
- Click HERE for IRS guidance related to federal tax relief.
- The IRS has now issued relief of federal tax filings and payments due April 15, 2020 to July 15, 2020. Please read the announcement located here for details.
- Frequently Asked Questions to the IRS regarding extensions for the Coronavirus – HERE
- State Tax Filing Relief Chart – HERE
- The IRS has issued relief to individuals for 2020 federal income tax due April 15, 2021 to May 17, 2021. – Read More HERE
* COVID-19 RELIEF BILL (part of Consolidated Appropriations Act, 2021)
PPP Loan Application First Draw Loans (Note latest version)
PPP Loan Application Second Draw Loans (Note latest version)
SBA Interim Guidance on PPP loans – Treasury.Gov – See PROGRAM RULES sorted by date
Summary of Changes to PPP loan programs – READ MORE HERE
Additional Tax Provisions – READ MORE HERE
* Coronavirus Aid, Relief and Economic Security (CARES) Act / the Payroll Protection Program and Health Care Enhancement Act
(Updated 6/22/20) – SBA releases new PPP Loan Forgiveness EZ Application and a REVISED Loan Forgiveness application-long form (see below). SBA also clarified the new thresholds for the 24 covered period vs the 8 week covered period for payroll. See Interim Final Rule HERE. Contact our office for specific questions.
PPP Loan Forgiveness Changes – Paycheck Protection Flexibility Act – READ MORE HERE (Updated 6/5/20)
IRS Guidance (Notice 2020-32) explains that a taxpayer that receives a PPP loan will not be able to deduct expenses that are normally deductible under the Code to the extent the PPP loan is forgiven. For more information and the response of the AICPA, read HERE.
Small businesses including self-employed businesses should contact your local banker or the Small Business Association directly for more details on the Paycheck Protection Program loan (with the possibility of loan forgiveness) as soon as possible. Beginning April 27, lenders will be begin taking new applications for businesses and self-employed individuals due to the additional funding provided by the Paycheck Protection and Health Care Enhancement Act signed into law on April 24.
- PAYCHECK PROTECTION PROGRAM (PPP) APPLICATION – HERE
- REVISED PAYCHECK PROTECTION PROGRAM (PPP) Loan Forgiveness Application – HERE
- NEW PAYCHECK PROTECTION PROGRAM (PPP) EZ Loan Forgiveness Application – HERE
- PAYCHECK PROTECTION PROGRAM $50,000 OR LESS Loan Forgiveness Application – HERE
- TREASURY.GOV -PPP Information Updated and FAQ – HERE
- Click HERE for CARES Act summary
- US Chamber of Commerce Paycheck Protection Program Summary – HERE
- SBE Council Articles – HERE
- Senate Small Business Committee Summary – HERE
- Paycheck Protection Program and Health Care Enhancement Act – HERE
* The Families First Coronavirus Response Act –
- Summary of the Families First Coronavirus Response Act – Click HERE
- Employee Rights Poster (SEE FREQUENTLY ASKED QUESTIONS BELOW) – HERE
- Families First Coronavirus Response Act “Notice” Frequently Asked Questions – HERE
- Families First Coronavirus Response Act Questions and Answers – HERE
- U.S. Department of Labor Frequently Asked Questions – HERE
- Update to FFCRA for American Rescue Plan Act – HERE
- Dominion Payroll COVID-19 Resources – HERE
* Small Business Loans –
- SBA COVID-19 Information – HERE
- Economic Injury Disaster Loan Information – HERE
- Economic Injury Disaster Loan (EIDL) including $10,000 Advance application – HERE
- Paycheck Protection Program (PPP) Loan Information- HERE
- EIDL and PPP Summaries – HERE
* Tennessee Department of Labor & Workforce Development – Click HERE for information for Tennessee Employers and Employees related to Unemployment questions.
* Tennessee Department of Revenue –
** The 2020 Hall tax return and payment for individuals and the Franchise/Excise tax return and payment for Single-Member LLCs have been extended to May 17, 2021.
Tennessee Supplemental Employer Recovery Grant Program (SERG) Open Until December 29, 2020
Click HERE for Tennessee Business Relief Program.
Click HERE for information related to Tennessee taxes.
Click HERE for TN Notice 20-05 extending Franchise/Excise tax deadline from April 15, 2020 to July 15, 2020.
Click HERE for TN Notice 20-06 extending Hall tax deadline from April 15, 2020 to July 15, 2020
Click HERE for TN Notice 20-07 extending County/City Business tax deadline from April 15, 2020 to June 15, 2020.
Click HERE for TN Notice 20-11 extending Professional Privilege Tax from June 1, 2020 to July 1, 2020
Click HERE for TN Notice 21-02 extending 2020 Hall tax and Franchise/Excise tax for Single-Member LLC from April 15, 2021 to May 17, 2021.
* Tennessee Office of the Governor – Click HERE for Tennessee Governor updates related to the Coronavirus.