COVID-19 UPDATES

The spread of COVID-19 is affecting each of us and our sense of what we consider normal is changing every day.  At AHP, our concern is for our team, our clients, and the communities where we work and live.  We are proactively implementing steps to protect the greater good, while continuing to meet your tax and accounting needs.

 

Due to the executive order issued by Michigan’s Governor Gretchen Whitmer on March 23, 2020, our offices will be minimally staffed through April 13.  However, our team is working remotely, and we are still serving all our clients.  Need to reach us, but aren’t sure how? Call 1.888.754.8478 or send an email to ahpinfo@ahpplc.com.

 

You can easily share documents and information with us through:

  • Use of one of our secure, online portals. If you are a client that would like to set up an account or have questions about using AHP’s client portals, simply send an email to ahpinfo@ahpplc.com.
  • Traditional mail to any of our nine locations.

 

AHP has the technology in place that allows you to securely send and receive your financial documents without ever leaving the comfort of home or office. We have invested in this technology that enables us to safely provide excellent client service without regard to physical location.

 

We will continue to update this page as news becomes available that will affect your personal or business financial matters.

 

 

 

News and Resources for Businesses

 

3/27/20 - Application Process Now Live for Michigan Small Business Relief Program Funding

 

Michigan’s small businesses impacted by the COVID-19 virus can now apply for grants and loans through the Michigan Small Business Relief Program, the Michigan Economic Development Corporation announced today. The program will provide up to $20 million in grants and loans to provide economic assistance to Michigan’s small businesses that have been negatively impacted by the COVID-19 virus, and in turn help support workers and their families facing economic uncertainty during the outbreak. Information on how to apply, as well as eligibility criteria, is available at www.michiganbusiness.org/covid19.

Read more

 

 

3/26/20 - Considerations for When Your Business Must Lay Off Employees

 

Some businesses may have to lay off workers due to the Governor's stay at home executive order. The Unemployment Agency has suggested that employers place employees on temporary unpaid leave as opposed to termination.

Read more

 

 

3/25/20 - Families First Coronavirus Response Act

 

The IRS and US Department of Labor have announced refundable payroll tax credits that will provide dollar-for-dollar reimbursement for small and midsized employers (employers with fewer than 500 employees) providing paid leave for employees affected by COVID-19 between the effective date of April 1, 2020 and December 31, 2020.

 

 

3/24/20 - How to Manage COVID-19-Related Business Risks

 

The coronavirus (COVID-19) outbreak has had a crippling effect on the global economy. This is clearly uncharted territory. As millions around the globe do their best to minimize their exposure to the virus, business owners and managers face an uncertain and stressful future.

Read more

 

 

3/20/20 - Families First Coronavirus Response Act (Act)

 

The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed by President Trump on March 18, 2020.

Read more

 

 

3/20/20 - Federal and State Tax Filing Deadline Moved to July 15

 

On Friday, March 20th, Treasury Secretary Steven Mnuchin announced that the federal tax filing deadline would be moved from April 15th to July 15th.

Read more

 

 

3/19/20 - Governor Whitmer announces SBA loans now available for small businesses impacted by COVID-19


Governor Gretchen Whitmer announced today the U.S. Small Business Administration (SBA) has approved her request for a statewide Economic Injury Disaster Loan (EIDL) declaration, opening the opportunity to small businesses to access low-interest loans from the SBA.

  Read more

 


3/19/20 - Vital Funding for State's Small Businesses Gains Michigan Strategic Fund Support


Economic assistance for small businesses around Michigan that have been negatively impacted by the COVID-19 virus gained approval from the Michigan Strategic Fund, the Michigan Economic Development Corporation announced today.


“We understand small businesses across our state are facing unprecedented challenges as we take every step possible to mitigate the spread of coronavirus,” said Governor Gretchen Whitmer. “Through decisive actions like those taken today by the MSF Board to authorize relief for small businesses throughout Michigan, we are leveraging every resource available to support our businesses, communities and entrepreneurs around the state impacted by this outbreak.”

 Read more

 

 

3/18/20 - Tax Assistance for Michigan Small Businesses

 

The Michigan Department of Treasury announced effective immediately small businesses that are scheduled to make their monthly sales, use, and withholding tax on March 20th can postpone filing or payment until April 20th. The Treasury Department will waive penalties and interest for 30 days. The waiver is not available for accelerated sales, use, or withholding tax filers.

 

Further information on the Treasury providing tax assistance to small businesses due to COVID-19 can be found in:

SUW Penalty and Interest Waiver Notice.

 

Resource Links:

AHP's Tax Filing and Payment Deadline Chart

CDC COVID-19 Resources for Businesses and Employers

Employee Rights Poster: The Families First Coronavirus Response Act (FFCRA) (PDF)

Federal Employee Rights Poster: The Families First Coronavirus Response Act (FFCRA) (PDF)

IRS Coronavirus Relief

Michigan Chamber of Commerce Coronavirus Toolkit

Michigan COVID-19 Resource

Michigan Economic Development Corporation COVID-19 Resources

Michigan Small Business Development Center

Michigan Treasury Department

Michigan Work Share Program Fact Sheet

Small Business Association of MI COVID-19 Resources

Small Business Relief Fact Sheet

 

 

 

 

 

News and Resources for Individuals

 

 

Updated 3/29/20 - Federal and State Tax Filing Deadline Moved to July 15

 

On Friday, March 20th, Treasury Secretary Steven Mnuchin announced that the federal tax filing deadline would be moved from April 15th to July 15th.

Read more

 

 

3/20/20 - Treasury: Michiganders Unemployed Due to COVID-19 Eligible for Collections Assistance

 

With the COVID-19 pandemic affecting the state’s workforce, the Michigan Department of Treasury is offering collections assistance to newly unemployed Michiganders currently paying on past-due state tax debts or other state debts. Effective immediately, individuals who have been laid off or had their place of employment closed due to COVID-19 should reach out to see what options are available. To receive assistance, individuals are encouraged to contact Treasury’s Collections Service Center at 517-636-5265.

Read more

 

 

3/17/20 - Tax Payment Deferment Until July 15, 2020

 

On March 17th, Treasury Secretary Steven Mnuchin announced that taxpayers will receive an extra 90 days to pay their federal taxes due to the coronavirus pandemic. This doesn’t delay the filing deadline, only the payment. To file after April 15th, taxpayers will need to file an extension. This relief also applies to the first quarter 2020 estimated payments with a deadline of April 15, 2020.

 

This deferment is for payments up to $1 million for individuals, trusts, and estates and up to $10 million for corporations.

 

Each state is to determine how they will handle tax filings and payments. Michigan has chosen to follow the IRS’s approach, allowing 90 additional days to pay income taxes owed, but keeping the filing deadline of April 15th.

 

Information on other states can be found at the AICPA’s website. Click here for a downloadable chart.

 

 

Additional Resources:

AHP's Tax Filing and Payment Deadline Chart

Centers for Disease Control and Prevention (CDC)

IRS Coronavirus Relief

Michigan COVID-19 Resource

Michigan Treasury Department

Raymond James’ Volatility and Coronavirus Resources

World Health Organization (WHO)

 

 

 

 

 

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