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How Covid-19 is affecting us | Taxes, Unemployment, Services

Updated: Apr 6, 2020

These are difficult and uncertain times. At Records In Order, we are taking action and providing information so we can support you as challenges come up. We will be sending a series of messages to provide information to our widespread clientele – which will include important info for individuals, businesses, and employees, and information about various states including AZ, CA, OR, WA and other states where our clients reside, and counties when applicable or available.

So far we have had 2 phases of FEDERAL legislation. Phase 3 is in process.

Phase 1:

Phase 1 was an $8.3 billion bill spurring coronavirus vaccine research and development.

The feds also announced a 90 day extension to individuals to pay 2019 tax due and to pay the 4-15-2020 estimate for tax year 2020 – but no extension to file. The standard 6 month extension to 10-15-20 already applies.

Phase 2:

Thursday, March 19, Trump signed Phase 2 legislation. The bill is focused on providing paid emergency sick leave to some workers, as well as boosting aid for state unemployment insurance and food assistance. Eligible for a promised 10 paid sick days during this outbreak include all federal government employees, W-2 workers, gig economy workers and self-employed workers…..

See the full article here:

Firms with less than 50 employees may apply for an exemption ……

Apart from 10 days of sick leave, the bill also requires free coronavirus tests for all citizens, whether they are privately insured, on Medicare/Medicaid or are uninsured. That includes the cost of the test itself, as well as any associated E.R. visit or doctor’s fees.

The bill also creates emergency paid leave for workers caring for a child due to coronavirus-related school closings. Eligible workers would receive benefits for a month’s benefit that would amount to two-thirds of the individual’s average monthly earnings (capped at $200 per day).

Apart from direct healthcare-related benefits, the bill also directs $2 billion to state unemployment and $1 billion to expanding access to programs like SNAP, WIC and the emergency food assistance programs.

Per CNN:

Payments would be capped at $511 a day, roughly what someone making $133,000 earns annually. The original measure called for workers to receive their full pay but limited federal reimbursement to employers to that amount.

Workers with family members affected by coronavirus and those whose children's schools have closed would still receive up to two-thirds of their pay, though that benefit would now be limited to $200 a day.

See the CNN article here:

It is still unclear which employees get the benefit, and how and when they apply for it, nor how employers may become exempt, or are required to pay leave to employees. We will follow this matter, and clarify these things as information becomes available.

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