MLR

COVID-19 Updates & Resources

A Message from ML&R

As the novel coronavirus (COVID-19) continues to spread in the U.S. and across the world, our priority at Maxwell Locke & Ritter is the safety and well-being of our people, clients, families, and community.  We are monitoring daily updates and recommendations from the CDC.  Additionally, we are minimizing the impact that COVID-19 could have on our services and are staying abreast of all filing deadline adjustments. We understand that in this time of uncertainty you may have growing concerns for the financial health of yourselves and your businesses, employees and families.  We have curated some helpful resources for you and will continue to update this page as new information and updates occur.

Legislative & Tax Related Resources

Coronavirus Aid, Relief, and Economic Security (CARES) Act

On March 25th the Senate passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act.  The CARES Act, which includes significant tax provisions and other measures to assist individuals and businesses impacted by the economic effects of the COVID-19 virus, was passed by the House and signed by the President on March 27th.

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Families First Coronavirus Response Act

On March 18th, President Trump signed into law a COVID-19 relief bill. It’s called the Families First Coronavirus Response Act. The new law mandates paid leave benefits for small business employees affected by the COVID-19 emergency and establishes related tax credits and Social Security and Medicare (FICA) tax relief for their employers.

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Extension of IRS Filing & Payment Deadline and Removal of Payment Limitation

Treasury Secretary Steven Mnuchin announced on March 20th that taxpayers will have an additional three months to file their tax returns, to go along with the extension of the payment deadline announced earlier in the week.

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IRS Coronavirus Tax Relief

The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. This page is updated as new information is available.

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IRS Filing & Payment Deadlines Q & A’s

The IRS has put together a list of answers to frequently asked questions related to the relief provided in Notice 2020-18. These questions and answers will be updated periodically and are designed to be a flexible tool to communicate information to taxpayers and tax professionals in this changing environment.

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FINANCIAL & OTHER RESOURCES

SBA 7(a) Loan Program Items in the CARES Act

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed by President Trump on March 27th, includes small business relief in the form of SBA “paycheck protection” loans.  Key provisions of this program are highlighted in this article.

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SBA Offering Loans to Small Businesses Hit Hard by COVID-19

Every company has faced unprecedented challenges in adjusting to life following the widespread outbreak of the COVID-19. Small businesses face particular difficulties in that, by definition, their resources — human, capital and otherwise — are limited. If this describes your company, one place you can look to for some assistance is the Small Business Administration (SBA).

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The Coronavirus and Market Declines

As financial markets fluctuate throughout this global crisis, our affiliate, ML&R Wealth Management, has some helpful tips to keep you focused and calm through the uncertainty.

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COVID-19 Pandemic Poses Complex HR Policy Questions

Questions from employers and employees about COVID-19 pandemic are multiplying almost as fast as the virus itself. Employers need to rely on a combination of authoritative legal and medical advice, and their own common sense, to keep employees safe. This article explains some of the issues that employers are facing as the COVID-19 affects their workplaces.

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City of Austin and Travis County COVID-19 Information

Information from the City of Austin in regards to local news and public health responses for Austin and Travis County in response to COVID-19.

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City of Round Rock and Williamson County COVID-19 Information

Information from Williamson County in regards to local news and public health responses for Round Rock and Williamson County in response to COVID-19.

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WE ARE YOUR TRUSTED ADVISORS

We are fully operational and committed to serving our clients during this time. As your trusted advisors, we will continue to monitor this ever-changing situation and will modify these updates as necessary.

In the interim, please feel free to call us (512) 370-3200 for Austin or (512) 370-3299 for Round Rock so we can discuss how to best serve you. You can email or call your ML&R contact directly through our Team’s Page.

Otherwise, please feel free to complete the form below and let us know how we can assist you.

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