Day: May 29, 2020

IRS Announcements Provide Guidance on Small Business Tax Issues and Tools


Note: The information on this page and links to which they point were prepared by the IRS. SmallBusiness.com always suggests that small business owners refer to a trusted financial and tax advisor before making any financial decisions.


The Families First Coronavirus Response Act

Last month, the IRS issued an overview regarding tax credits that can be used to reimburse employers for the costs of providing paid sick leave and paid family and medical leave to employees unable to work because of the coronavirus (COVID-19). For more information, see the complete Families First Coronavirus FAQ.


Have a tax-related payment question? The IRS.gov may have the answer here.

Taxpayers within the small business community are reminded that the IRS regularly posts new and updated answers to the most frequently asked questions about Economic Impact Payments and the Get My Payment tool. Those who wish to know the status of their Economic Impact Payment are reminded to visit Get My Payment regularly.


Economic impact payments are still being sent by prepaid debit cards.

Some Economic Impact Payments are still being sent by prepaid debit card. The debit cards arrive in a plain envelope from “Money Network Cardholder Services.” Two sets of IRS frequently asked questions have also been updated to help taxpayers get answers about their payments, including those arriving on prepaid

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