Please note: There is a $2 trillion dollar stimulus package working its way through congress. In addition to making direct payments to American workers, the bill also relaxes the retirement account withdrawal rules. This bill will also create the Pandemic Unemployment Assistance program which will increase benefits to $600 per week for all workers, including gig workers, freelancers, and self-employed individuals, who typically don’t qualify. None of this information is included below. We will notify you by email when more information is available.

COVID-19 Programs
for Employers

Updated March 26, 2020

 

US Federal Government

  • Corporate Tax Deadline - Extended to July 15, 2020.  MORE INFO

  • Federal Tax Payments - Extended to July 15, 2020.  MORE INFO

 

US Small Business Administration (SBA)

  • Economic Injury Disaster Loan Program - Loans of up to $2 million in assistance to help combat temporary revenue loss due to fixed debts, payroll, accounts payable, and other losses. MORE INFO

 

New York State

  • 90-Day Mortgage Relief – A directive has been issued to New York State mortgage servicers to provide 90-Day mortgage relief to mortgage borrowers impacted by novel coronavirus—including waiving mortgage payments, no negative reporting to credit bureaus, grace period for loan modification, no late or online fees, and postponing or suspending foreclosures. Contact your mortgage provider for more details.

  • COVID-19 Paid Sick Leave – Employers with 10 or fewer employees and a net income less than $1 million must provide their employees with guaranteed job protection for the duration of the quarantine order and provide compensation for the duration of their quarantine through your existing Paid Family Leave (FPL) and Disability Benefits (DB) policy. If your employees can work from home, then they do not qualify for these benefits. If your business is closed due to COVID-19, your employees may immediately apply for unemployment insurance. Employers with 11 employees or more and a net income greater than $1 million must provide additional benefits. MORE INFO

  • Sales Tax Late Filing & Payment Penalty Abatement – NYS will abate interest on quarterly and annual sales and use tax filings and remittances with a due date of March 20, 2020 for qualifying companies. MORE INFO

 

New York City

  • NYC Employee Retention Grant Program – Available to NYC businesses with one to four employees that can demonstrate at least a 25% decrease in revenue. The grant will cover up to 40% of their payroll for two months. MORE INFO

  • NYC Small Business Continuity Load Fund – Zero-interest loans up to $75,000 to help retain employees and ensure business continuity. MORE INFO

COVID-19 ASSISTANCE PROGRAMS
Updated Wednesday, March 26, 2020
There are various federal, New York, and New York City programs available for employers, employees, and individuals. Some are active and available now, while others are currently working their way through the United States Congress and New York State Legislature. Click below for more information.
Have more questions?

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