COVID-19 FAQs for DSB Customers
To our David S. Brown Enterprises Community:
We’d like to take a moment to express our concern and offer assistance to our tenants in these trying times. We recommend that all tenants who qualify immediately apply for all of the state and federal assistance programs available to them.
Links are pasted below containing the three Maryland programs mentioned in Governor Hogan’s press conference on 3/23 along with a link from the U.S. Small Business Administration Disaster Assistance page. Tenants should apply right away to be “first in line” should these funds run out.
This is a challenging and quickly changing time, but we are confident we will get through this together. Although Governor Hogan announced business closures yesterday, please be advised that the business of David S. Brown Enterprises was not restricted. We are dedicated to maintaining our properties and we are steadfast in our commitment to work with our tenants during this difficult time.
Please contact Beth Workman at firstname.lastname@example.org with any further questions or concerns.
How can small businesses in Maryland seek financial assistance?
Governor Larry Hogan recently announced that Maryland has received official designation from the U.S. Small Business Administration (SBA) for its Economic Injury Disaster Loan (EIDL) program, which provides low-interest federal disaster loans for small businesses impacted by the COVID-19 pandemic. According to the SBA, the loans will help alleviate financial strain and allow businesses to pay bills, payroll, and accounts payable, with long-term payments stretching up to 30 years. Small businesses and private non-profit organizations can apply directly to the SBA for financial assistance here.
This loan program, combined with other state and federal assistance, will give businesses the support and resources they need to continue to operate.
RELATED ARTICLE: SBA Gearing Up for ‘hundreds of thousands’ of Loan Applications
For details on the administration’s ongoing response, visit governor.maryland.gov/coronavirus.
How is the state of Maryland providing assistance?
The State of Maryland has developed a portal where you can ask questions and apply for assistance:
Please send any business-related questions that you have to email@example.com
How is the state of Pennsylvania providing assistance?
Please visit the link below to access a round-up of COVID-19 business resources being offered by the Pennsylvania Department of Community and Economic Development:
Marketing Resources for Restaurant Owners
Is there any coronavirus-related paid leave for workers or tax credits available?
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.
The Act will help the United States combat and defeat COVID-19 by giving all American businesses with fewer than 500 employees funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. The legislation will enable employers to keep their workers on their payrolls, while at the same time ensuring that workers are not forced to choose between their paychecks and the public health measures needed to combat the virus.
Paid Sick Leave for Workers: For COVID-19 related reasons, employees receive up to 80 hours of paid sick leave and expanded paid child care leave when employees’ children’s schools are closed or child care providers are unavailable.
Complete Coverage: Employers receive 100% reimbursement for paid leave pursuant to the Act.
Health insurance costs are also included in the credit.
Employers face no payroll tax liability.
Self-employed individuals receive an equivalent credit.
Fast Funds: Reimbursement will be quick and easy to obtain.
An immediate dollar-for-dollar tax offset against payroll taxes will be provided where a refund is owed, the IRS will send the refund as quickly as possible.
Small Business Protection: Employers with fewer than 50 employees are eligible for an exemption from the requirements to provide leave to care for a child whose school is closed, or child care is unavailable in cases where the viability of the business is threatened.
Easing Compliance: Requirements subject to 30-day non-enforcement period for good faith compliance efforts.
To take immediate advantage of the paid leave credits, businesses can retain and access funds that they would otherwise pay to the IRS in payroll taxes. If those amounts are not sufficient to cover the cost of paid leave, employers can seek an expedited advance from the IRS by submitting a streamlined claim form that will be released next week.
Read the full release here: https://www.irs.gov/newsroom/treasury-irs-and-labor-announce-plan-to-implement-coronavirus-related-paid-leave-for-workers-and-tax-credits-for-small-and-midsize-businesses-to-swiftly-recover-the-cost-of-providing-coronavirus
Have the Treasury and IRS extended the filing deadline and federal tax payments?
The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date has been automatically extended from April 15, 2020, to July 15, 2020.
Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.
Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.
The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.
What public health resources are available?
The following links from the CDC and OSHA may be helpful:
Can DSB hold mail and deliveries if a tenant is working remotely?
If your company makes the decision to close with no one on site to receive mail/packages, it is important that you reach out to the USPS and commercial carriers to make arrangements to hold or forward your deliveries. Unfortunately, DSB cannot be responsible for any mail/deliveries to your workplace. As we shared earlier, DSB’s Customer Service representatives will be responding to emergency situations only, so they will be unable to monitor for any packages outside the doors. Please take this time to make alternate arrangements for mail, shipments and any regular deliveries you are expecting. A few USPS options may be found here: https://www.usps.com/business/manage-mail.htm.
What level of frequency should be expected from DSB as the COVID-19 situation evolves?
The health and well-being of our customers is a top priority. We will communicate as often as necessary to provide up-to-date information and announcements. If you would like to add an emergency contact to our distribution list, please contact firstname.lastname@example.org