COVID-19 Tax Relief
The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus. Their page will be updated as new information is available. https://www.irs.gov/coronavirus
The Department of Treasury also has information available at Coronavirus: Resources, Updates, and What You Should Know.
Beware COVID-19 Scams
If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal financial information, or an advance fee, tax, or charge of any kind, including the purchase of gift cards, please do not respond. These are scams.
Please contact the FBI so that the scammers can be tracked and stopped. (Source: https://home.treasury.gov/coronavirus)
CIP Bookkeeping & CPA Resources
Bookkeepers and Certified Public Accountants (CPA) can help your business navigate the quickly changing financial landscape. As part of your action plan, consider consulting with a financial professional who specializes in the hospitality industry.
Industry professionals will be equipped with the latest information and regulation changes from the government and the IRS (Internal Revenue Service).
The entire CIP Team is here for you! We look forward to continuing to provide you with industry insights and best practices moving forward.