Dear JMF Clients and Friends:
As we mentioned in our communication on March 14th, we are in unprecedented times. We wanted to share another update of what JMF is continuing to do to serve our clients while maintaining a safe work environment. This remains a fluid situation and we will continue to communicate with you.
We also want to summarize a barrage of new laws, rulings, and announcements from federal, state and local officials for employers and employees. Also, as we digest this morning’s large Coronavirus Stimulus bill, we will send you an update specifically on that.
Our Tuscaloosa and Selma offices remain open to our employees – who are all working at a socially acceptable distance – so that we can continue to focus on meeting your tax and accounting needs. We are also trying to limit the number of visitors into the building in an effort to safeguard our team and their families (the Synovus bank lobby on the first floor is closed, but their drive through is still open). Many of our employees are working remotely in our secure technology environment.
We would like to stress again that there is a secure drop box in front of the Tuscaloosa office with a large JMF sign on it. We have also placed signs in the parking lot to help you find that box. We can also be reached via email or phone at (205) 345-8440. You can also share your tax documents electronically with us immediately upon receipt. Please contact a JMF employee and we can provide you instructions to be able to complete this transfer securely.
As of last Friday, the US Treasury officially changed the filing due date for tax returns from April 15, 2020 until July 15, 2020. Tax returns and tax payments are now both officially due on or before July 15, 2020.
The Alabama Department of Revenue has since said that Alabama filings and payments are also now due on July 15.
There is one deadline that DID NOT change. Normal filing and payment due dates continue to apply to estate and gift taxes. Gift tax returns that aren’t complete by April 15th will need to be extended. Any estates that are due before July 15th will also have to be extended.
Other Recent Updates Related to COVID 19 That Might Interest You or Your Employees:
Alabama Unemployment Benefit Updated Information for Employers
Families First Coronavirus Response Act Summary
ADOR Extends Sales Tax Relief to Small Businesses Due to COVID-19
ADOR Extends Relief to Lodgings Businesses
Alabama Announces Support for Workers Impacted by COVID-19
SBA Disaster Assistance Fact Sheet
Recording of SBA Disaster Assistance Webinar
This walks through how to fill out forms for SBA Disaster funds
Small Business Relief Fund
The Small Business Relief Fund is a Community Foundation of West Alabama fund offered in cooperation with the Chamber of Commerce of West Alabama. The fund was created to assist small businesses that have experienced a financial hardship as a result of Coronavirus (COVID-19).
Chamber of Commerce of West Alabama COVID-19 Resource Page
We understand that the spread of COVID-19 remains troubling and this is quite a period of uncertainty. We will do what we have always done which is to continue to work hard and safely and put our clients’ needs at the forefront. We have seen a lot over the last 100 years, and we feel confident that we will all get through this together. If you have any questions, please reach out to your accountant directly.