A Message From Our Founder
Raven A. Herron & Company has established this special section to provide information to those who may be affected by the Coronavirus. This page will be updated as new information becomes available. We are here to help, please reach out to us anytime. -Raven
There are many things that we all need to be thinking about right now with regards to planning. Some banks are offering an automatic 60-day extension on note payments, others are giving you a month nonpayment without affecting your loan or credit report. SBA is currently overwhelmed with applications for emergency funding or line of credits. All of these banks are going to want to see current financial statements and bookkeeping records so it’s important that you stay up to date as much as possible in order to qualify quickly for these programs.
In addition, Treasury, IRS and Labor announced a plan to implement Coronavirus-related paid leave for workers and tax credits for businesses to help those businesses swiftly recover these additional payroll costs. It is imperative that we keep up with payroll reporting so we can take advantage of any payroll credits offered.
Firm Update Posted March 23, 2020
The health and well-being of our team members, families and clients continues to drive our Firm wide decisions. We are monitoring the coronavirus (COVID-19) developments and the guidance of national, state and local health agencies. As a result, we have implemented necessary precautions to protect the health and safety of our people, families, clients and office visitors.
We are making every effort to ensure that this situation will not affect the timeliness or quality of the work we are doing for you. We are committed to continue to serve your needs and provide ongoing high standard of service.
- We are open for business but have cancelled all in-person meetings with clients in our office.
- Any of our employees that are sick will be instructed to stay home.
- Some of our staff will be working remotely. We have remote capabilities for our staff to work efficiently from home.
- We have secure portals to share confidential/sensitive information both incoming and outgoing.
- Our technology, systems and processes will enable our team members to continue to serve your needs remotely as the need arises.
COVID-19 is impacting us all in numerous ways – and we wish to thank you for your patience and understanding during this challenging time. Our team is focused on serving you, our clients, as we plan ahead for a return to normal operations.
Tax/Law Updates Posted March 23, 2020
Among the list of resources is the SBA Economic Injury Disaster Loan Program which offers an SBA loan at a 3.75% rate or 2.75 for NGO’s. Loan repayment very by applicant, up to a max of 30 years.
An employee who is sick or whose family members are sick may be entitled to leave under the FMLA under certain circumstances. The FMLA entitles eligible employees of covered employers to take up to 12 weeks of unpaid, job-protected leave in a designated 12-month leave year for specified family and medical reasons.
FEDERAL TAX FILING DELAYED UNTIL JULY 15 2020 - US Extends Individual Tax Filing Deadline from April 15 to July 15 – March 20, 2020
The tax deadline has been moved to give people more time to prepare and pay their taxes during the Coronavirus outbreak. Your return is extended automatically to July 15. If you file early, you can still receive your refund on time.
Coronavirus Initial update posted Monday March 16th, 2020
As we learn more about the evolution and impact of COVID-19 (Coronavirus) and watch as it continues to spread throughout the US and the globe, I wanted to personally write a brief update on what we are doing to address the issue.
Of utmost importance to us is the safety and well-being of our staff, their families, our clients and the surrounding communities.
We are facing many unknowns and we are evolving daily as the environment changes. Our Team remains focused on providing you with excellent service during these unique circumstances and we have taken steps to ensure that we are able to continue to provide the level of service and quality to which you have become accustomed. We have the technological infrastructure in place to allow both our staff and our clients to work virtually as the need arises.
In addition to being able to serve you efficiently and effectively through remote capabilities as needed, know that we are here to help you as well with your own remote environment.
We will continue to closely monitor the situation and keep you informed about changes in tax filing deadlines as we know them.
Please do not hesitate to reach out to anyone on our Team if you have any questions or concerns. We are here to help.