{"id":2601,"date":"2020-03-24T20:10:05","date_gmt":"2020-03-25T02:10:05","guid":{"rendered":"https:\/\/kaczorcpa.com\/?page_id=2601"},"modified":"2023-02-05T06:43:01","modified_gmt":"2023-02-05T12:43:01","slug":"coronavirus-update-for-illinois","status":"publish","type":"page","link":"https:\/\/kaczorcpa.com\/pl\/coronavirus-update-for-illinois\/","title":{"rendered":"Coronavirus Update for Illinois"},"content":{"rendered":"<h1>Coronavirus update for Illinois<\/h1>\n\n\n\n<p>As of April 25, 2020<\/p>\n\n\n\n<p><strong>IRS Coronavirus Tax Relief Information for Individual and Business<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.irs.gov\/coronavirus\">https:\/\/www.irs.gov\/coronavirus<\/a><\/p>\n\n\n\n<p><strong>Coronavirus (COVID-19) Help for Small Business<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.ptindirectory.com\/coronavirus-help-for-small-business.cfm\">https:\/\/www.ptindirectory.com\/coronavirus-help-for-small-business.cfm<\/a><\/p>\n\n\n\n<p><strong>Comprehensive link to U.S. Department of Labor \u2013 Paid Leave<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.dol.gov\/newsroom\/releases\/osec\/osec20200320\">https:\/\/www.dol.gov\/newsroom\/releases\/osec\/osec20200320<\/a><\/p>\n\n\n\n<p><strong>Informational link for residents of State of Illinois<\/strong><\/p>\n\n\n\n<p><a href=\"http:\/\/www.dph.illinois.gov\/topics-services\/diseases-and-conditions\/diseases-a-z-list\/coronavirus\">http:\/\/www.dph.illinois.gov\/topics-services\/diseases-and-conditions\/diseases-a-z-list\/coronavirus<\/a><\/p>\n\n\n\n<p><strong>IDES \u2013 Illinois Department of Employment Security rules and Qualifications<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www2.illinois.gov\/ides\/Pages\/COVID-19-and-Unemployment-Benefits.aspx\">https:\/\/www2.illinois.gov\/ides\/Pages\/COVID-19-and-Unemployment-Benefits.aspx<\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www2.illinois.gov\/ides\/News%20%20Announcements%20Doc%20Library\/Federal-Stimulus-UI-FAQ-March2020.pdf\">https:\/\/www2.illinois.gov\/ides\/News%20%20Announcements%20Doc%20Library\/Federal-Stimulus-UI-FAQ-March2020.pdf<\/a><\/p>\n\n\n\n<p><strong>IDES \u2013 Link to Unemployment Application<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www2.illinois.gov\/ides\/individuals\/UnemploymentInsurance\/Pages\/default.aspx\">https:\/\/www2.illinois.gov\/ides\/individuals\/UnemploymentInsurance\/Pages\/default.aspx<\/a><\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-red-color\">SBA Coronavirus (COVID-19): Small Business Guidance &amp; Loan Resources<\/span><\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.sba.gov\/page\/coronavirus-covid-19-small-business-guidance-loan-resources\">https:\/\/www.sba.gov\/page\/coronavirus-covid-19-small-business-guidance-loan-resources<\/a><\/p>\n\n\n\n<p><strong>Coronavirus Emergency Loans Small Business Guide and Checklist<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.uschamber.com\/sites\/default\/files\/023595_comm_corona_virus_smallbiz_loan_final.pdf\">https:\/\/www.uschamber.com\/sites\/default\/files\/023595_comm_corona_virus_smallbiz_loan_final.pdf<\/a><\/p>\n\n\n\n<p><strong><span class=\"has-inline-color has-vivid-red-color\">Summary and update as April 25, 2020<\/span><\/strong><\/p>\n\n\n\n<p><span style=\"color:#1d3690\" class=\"has-inline-color\"><strong>Indywidualne<\/strong><\/span><\/p>\n\n\n\n<p>Individuals who have filed 2019 will receive check directly to their checking accounts. Some filers will need to provide bank info to IRS. IRS is working to have platform to upload information. For those who didn\u2019t file yet, payment will be based on 2018 and adjusted when 2019 is filed. &nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>Social Security recipients won\u2019t need to file tax returns to receive the&nbsp;<a href=\"https:\/\/www.wsj.com\/articles\/everything-you-need-to-know-about-the-payments-from-the-government-11585229988?mod=article_inline\">$1,200 one-time payments<\/a>&nbsp;authorized in the new&nbsp;<a href=\"https:\/\/www.wsj.com\/articles\/house-lawmakers-race-to-washington-to-ensure-coronavirus-stimulus-passes-11585318472?mod=article_inline\">economic-relief law<\/a>, the Treasury Department said late Wednesday in a reversal of its prior position. (WSJ)<\/p>\n\n\n\n<p><span style=\"color:#1e3897\" class=\"has-inline-color\"><strong>Business<\/strong><\/span><\/p>\n\n\n\n<p>Generally, there are multiple options for small business owners in Illinois<\/p>\n\n\n\n<p>First, if work of employee is essential for continuance of the business and employee gets paid standard payroll and company may get through payroll tax credit or SBA Loan (see above links)<\/p>\n\n\n\n<p>Second, if employee stays at home due to quarantine or illness then employer will pay 100% paycheck and employer WILL BE REIMBURSED by IRS dollar for dollar up to 80 hrs. (please review DOL link)<\/p>\n\n\n\n<p>Third, after two weeks if employer is still not able to provide employment due to coronavirus, then employee may apply for unemployment benefits.<\/p>\n\n\n\n<p>Fourth, if employee needs to stay home to take care of children due to school closure then employer will pay 2\/3 of regular payroll up to 10 weeks and employer will get credit from IRS. Small business under 50 employees may be exempt from providing this benefit.<\/p>\n\n\n\n<p>Fifth, self-employed business owners will get help when they file their tax returns.<\/p>\n\n\n\n<p>All of this info is general in nature and subject to limitation \u2013 please review links.<\/p>\n\n\n\n<p>If you have any questions feel free to email us your questions.<\/p>\n\n\n\n<p>In addition, we will provide more information as it comes available<\/p>\n\n\n\n<p>All the best and stay healthy<\/p>\n\n\n\n<p>Richard Kaczor CPA MBA with staff of Kaczor and Associates LTD<\/p>","protected":false},"excerpt":{"rendered":"<p>Coronavirus update for Illinois As of April 25, 2020 IRS Coronavirus Tax Relief Information for Individual and Business https:\/\/www.irs.gov\/coronavirus Coronavirus (COVID-19) Help for Small Business https:\/\/www.ptindirectory.com\/coronavirus-help-for-small-business.cfm Comprehensive link to U.S. Department of Labor \u2013 Paid Leave https:\/\/www.dol.gov\/newsroom\/releases\/osec\/osec20200320 Informational link for residents of State of Illinois http:\/\/www.dph.illinois.gov\/topics-services\/diseases-and-conditions\/diseases-a-z-list\/coronavirus IDES \u2013 Illinois Department of Employment Security rules and [&hellip;]<\/p>","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"ub_ctt_via":"","ngg_post_thumbnail":0,"footnotes":""},"class_list":["post-2601","page","type-page","status-publish","hentry"],"featured_image_src":null,"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Coronavirus Update for Illinois - Kaczor &amp; 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