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Important Coronavirus (COVID-19) Information and Resources

While the news concerning COVID-19 continues to develop, we would like to say that the health and safety of our team members, families, clients, and communities is our number one priority. We will be utilizing this COVID-19 Resource Center as a means of keeping our clients and community informed during these challenging times.

Our Whittlesey team remains fully-operational. We will continue to provide the high level of client service that our clients and community deserve and trust. We have the technology in place to continue to provide you the high level of client service you have grown accustomed to as long as needed. Our team members are equipped to work remotely. Our technology systems can be easily and securely accessed regardless of where our team members work or live.  

We remain committed to continuing the high quality and timeliness of service you deserve and expect. We will be in communication regarding any modifications to this ever-changing issue. If you have any questions about how this may affect you or your business, feel free to reach out to your Whittlesey advisor.

We encourage you to send documents electronically to help protect you from any risk. You can send such files by visiting the Client Portal. If you need assistance uploading your documents to the portal, please email Whittleseyportal@wadvising.com. If you prefer to send information to us via FedEx or mail, please inform your Whittlesey advisor.

Economic Updates

In response to the coronavirus (COVID-19), Congress and the IRS have recently provided tax relief to businesses. Here’s a brief rundown.

The Treasury issued guidance regarding the Paycheck Protection Program (PPP) safe habor requirement that borrowers make a good faith certification that "Current economic uncertainty makes the loan request necessary to support the ongoing operations of the Application" by May 14, 2020.

Taxpayers now have an additional three months to file their 2019 federal tax returns.

The Treasury has issued a final interim rule regarding the Paycheck Protection Program. 

With schools starting soon, now is a good time for employers to revisit the Families First Coronavirus Response Act (FFCRA). 

The Department of Health and Human Services (HHS) has recently clarified that both nonprofit and for-profit entities who received Provider Relief Funds are subject to Single Audit requirements.

It's no doubt that the COVID-19 pandemic has changed the playing field for businesses. We suggest a three-step journey: survive, pivot and adapt, thrive.

On June 22, the SBA and Treasury released additional guidance surrounding the Payroll Protection Program (PPP) Interim Rule. The new guidance provided clarification regarding loan forgiveness filing dates, owner-employee payroll costs, and Safe Harbor reductions. 

Economic Updates

This article gives high-level insight into the northeastern states for possible discussions with clients to identify the state implications of the pandemic. 

The SBA is offering low-interest Economic Injury Disaster Loans (EIDL) up to $2 million to small businesses suffering substantial economic injury as a result of the Coronavirus.