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| COVID Related

Impact of the CARES Act on Not-for-Profit Organizations

April 3, 2020 - On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act (the “Act”), a $2 trillion economic stimulus package intended to provide needed assistance to individuals,…

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| COVID Related

Gift Tax Returns Added to July 15 Tax Filing Deadline

April 2, 2020 - On March 20, 2020, the IRS published Notice 2020-18 postponing both the filing and payment deadlines for income tax returns from April 15 to July 15, 2020.

| COVID Related

Individual Mandates from CARES Act

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| COVID Related

CARES Act: Retirement Plan Provisions

March 29, 2020 - The stimulus package signed into law on March 27, 2020 gives financial relief to retirement plan participants who have been affected by COVID-19.  Some of the key provisions include:

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| COVID Related

Paycheck Protection Program (PPP) - CARES Act Section 1102 & Small Business Administration (Economic Injury Disaster Loan)

March 30, 2020 - The $2.2 trillion coronavirus stimulus bill was enacted by Congress on March 27, 2020.

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| COVID Related

Employee Retention Credit for Employers Subject to Closure due to COVID-19 (Section 2301 of the CARES Act)

March 30, 2020 - While the Families First Coronavirus Response Act (FFCRA) allows payroll credits for employers who are required to provide paid leave to employees affected by COVID-19, the employee retention credit under the CARES Act…

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| COVID Related

Coronavirus Aid, Relief and Economic Security (CARES) Act

March 27, 2020 - Millions of American businesses have anxiously awaited the passage of the Coronavirus Aid, Relief and Economic Security (CARES) Act.

| COVID Related

Tax Filing Deadline Moved to July 15

March 20, 2020 - The federal government moved Tax Day from April 15, 2020 to July 15, 2020, announced Friday morning by Treasury Secretary Steven Mnuchin.  All taxpayers and businesses will have additional time without interest or…

NYS SHIELD Act: What Employers Need to Know

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| COVID Related

A COVID-19 UPDATE from Dermody, Burke & Brown, CPAs

March 16, 2020 - At Dermody, Burke & Brown, CPAs, LLC, the health and safety of our clients, our staff, and our communities is our top priority.

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| COVID Related

Federal Tax Payments Delayed 90 Days

March 18, 2020 - The Trump administration announced that under an economic stimulus plan individuals and businesses are now allowed to defer income tax payments owed on April 15, 2020 by 90 days.  The extension, announced on March 17…

Jamie Brockett Joins Dermody, Burke & Brown

Dermody, Burke & Brown, CPAs, LLC recently hired Jamie Brockett as a Custom Accounting Solutions (CAS) Associate in the Syracuse office.

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