Special alert for benefit recipients!

Special alert for benefit recipients who don’t file a tax return and have dependents!!!!

SSA, RRB recipients with eligible children need to act by Wednesday to quickly add money to their automatic Economic Impact Payment; IRS asks for help in the ‘Plus $500 Push’

Tax Scam Alert!

We need to be more careful than ever! Scammers and con-artists are at an all-time high due to the worldwide shutdowns. AFS Taxsavers have your back to protect you against IRS scammers by keeping you informed. Call us for any updates or more information @ (734) 464-3660 📞

State of Michigan Department of Treasury: Business Taxpayers Can Pay Monthly, Quarterly Sales, Use and Withholding Tax in May

April 14, 2020

Certain businesses that have experienced disrupted operations due to the COVID-19 pandemic now have even more time to make monthly or quarterly sales, use and withholding tax payments, according to the Michigan Department of Treasury. Business taxpayers scheduled to make sales, use and withholding tax payments for March and April or for the first quarter of 2020 can postpone filing and payment requirements until May 20, 2020. The state Treasury Department will waive all penalties and interest. Business taxpayers are encouraged to file sales, use and withholding tax returns and pay taxes owed as of the original due date if able to do so. The waiver is not available for accelerated sales, use or withholding tax filers. Businesses with questions should inquire through self-service options using Michigan Treasury Online.

Non-Filers Looking For a Stimulus Check

If you did not have to file a tax return in the last two years visit the site below to make sure you get your stimulus check.

IRS Non-Filer Website

Starting Monday April 13th Applications will be in place for the Self-employed, 1099-Contractors, and Gig workers

Starting Monday April 13th

  • Applications will be in place for the Self-employed, 1099-Contractors, and Gig workers
    • These workers will start to receive the State and Federal benefits as early as April 20th
    • Self-employed workers, gig workers, 1099-independent contractors and low-wage workers who have previously applied for unemployment benefits and have been denied should login to their MiWAM account to complete the next steps for PUA federal benefits. These steps will also be emailed to workers. They should not file a new claim, as that may delay the time it takes to get their benefits
  • The UIA says that every eligible worker will receive their benefits.
  • The UIA will be accepting claims and benefit applications back-dated to reflect the date on which the claimant was laid-off due to COVID-19, beyond the previously established 28-day period ($600 federal payment is only retroactive back to March 28).
  • Eligible self-employed workers, gig workers, 1099-independent contractors, and low-wage workers will begin receiving their state benefit amount (paid with federal funds) and the $600 federal payment as early as April 20.

Grant For Hospitality Industry

The Michigan Hospitality Industry Employee Relief Fund, supported by the Michigan Restaurant & Lodging Association Educational Foundation, is designed to assist employees of Michigan’s restaurant and lodging industry who are in need of support after the COVID-19 pandemic. Funds will be granted to individuals that can demonstrate need and proof of hospitality industry employment as of March 10, 2020. Awards in the amount of $500 will be granted to all approved applicants until resources are fully depleted.

Apply Here: https://mrlaef.org/relief-fund.html

Update on Unemployment for Self-employed, Contractors, Gig, and Low-wage Workers Coming in Next Couple of Days

The governor, under the federal CARES Act, signed an agreement between Michigan and the U.S. Dept. of Labor to implement Pandemic Unemployment Assistance and Compensation programs that grant benefits to workers who do not already qualify for state unemployment benefits. Workers include self-employed, 1099-independent contractors, gig, and low-wage workers who can no longer work because of the pandemic. The agreement also increases weekly benefits for all unemployed workers by $600 a week and extends benefit payments from 26 to 39 weeks. If someone has already applied for unemployment benefits, you DO NOT need to reapply at this time.

The UIA will provide additional guidance regarding eligibility and application details in the coming days as it implements these new programs.

Payroll Protection Loans

In a move designed to keep small businesses afloat, the CARES Act provides that businesses with fewer than 500 employees — including sole proprietors and nonprofits— will have access to nearly $350 billion in loans. A separate section of the CARES Act calls for a portion of the paycheck protection loans to be forgiven on a tax-free basis. Please give us a call if you have any questions 734-464-3660.

Payroll Protection Loan Full Details

Stimulus Package Updates – Unemployment Benefits

The new stimulus package boosts unemployment insurance.  This boost will allow people to receive an extra $600 a week in unemployment benefits for up to 4 months – on top of the amount they get from the State.  The relief package would also provide unemployment benefits to self-employed and contract workers, who typically aren’t eligible, for up to 39 weeks.

Click here for more details