COVID-19 Response

CARES Act – Immediate Funds Available

At Hauser Jones & Sas PLLC, we are aggressively monitoring the government’s efforts at fiscal stimulus during this challenging time. In addition to extending the tax filing due date for 90 days – to July 15, 2020 – Congress has passed a significant financial relief package for individuals, small businesses and non-profits.

The loans and grants from the CARES Act can provide meaningful financial support – BUT YOU SHOULD ACT NOW – select from one or more of the following programs:

Payroll Protection Program

An SBA loan that helps small businesses and non-profits [less than 500 employees] keep your workforce employed during the Coronavirus (COVID-19) crisis.

This loan includes potential forgiveness of principal and interest by SBA if used for payroll related costs. Our recommendation is that “you must apply”.

HJ&S can help you with the payroll calculation and necessary documentation but you must apply through your bank, credit union or another SBA approved lender.

This program is in high demand so act quickly to complete your application and talk to your Banker. Click here for more information on PPP from SBA

Talk to your HJ&S advisor or attend one of our webinars to learn more.

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Economic Injury Disaster Advance Loan – [$10,000 Grant]

In response to the Coronavirus (COVID-19) pandemic, small business owners are eligible to apply for an Economic Injury Disaster Loan advance of up to $10,000.

This advance will provide economic relief to businesses that are currently experiencing a temporary loss of revenue. According to SBA this loan advance will not have to be repaid – We recommend you apply.

Apply Here

Payroll Tax Deferral

The (CARES) Act allows business taxpayers to defer paying the employer portion of certain payroll taxes through the end of 2020. Payroll taxes that can be deferred include the employer portion of FICA taxes, the employer and employee representative portion of Railroad Retirement taxes (that are attributable to the employer FICA rate), and half of SECA tax liability.

Employers, both businesses and non-profits, are eligible to defer their payroll taxes, unless they receive a loan under the SBA Paycheck Protection Program.


  • Employers may immediately defer payroll taxes through the end of 2020,
  • The first 50 percent of the deferred amount must be paid before December 31, 2021,
  • The second 50 percent of the deferred amount must be paid before December 31, 2022.

We recommend you take advantage of this deferral until such time as your PPP loan [see above] is fully funded.

Talk to your HJ&S advisor or attend one of our webinars to learn more.

IRS Coronavirus Website

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Stimulus Cash Payments to Individuals

Eligible taxpayers who filed tax returns for either 2019 or 2018 will automatically receive an economic impact payment of up to $1,200 for individuals or $2,400 for married couples and up to $500 for each qualifying child

Who is eligible for the economic stimulus payment?
This is geared for lower to middle income earners. Tax filers with adjusted gross income up to $75,000 for individuals and up to $150,000 for married couples filing joint returns will receive the full payment. For filers with income above those amounts, the payment amount is reduced by $5 for each $100 above the $75,000/$150,000 thresholds. Single filers with income exceeding $99,000 and $198,000 for joint filers with no children are not eligible.

No action needed by most people at this time.

Learn more

Immediate Tax Credits for Employee Retention

This generous credit is geared for any business that has been severely impacted by the COVID-19 Pandemic; and you can take it immediately against required deposits of payroll taxes that have been withheld from employees’ wages.

The credit is available to businesses regardless of size. However, you are not eligible for this credit if you take small business loans from the SBA PPP loan program.

Qualifying employers must fall into one of two categories:
1) Your business is fully or partially suspended by government order due to COVID-19 during the calendar quarter [most of us are least partially suspended and will qualify].


2) Gross receipts [for the quarter] are below 50% of the comparable quarter in 2019. Once your current gross receipts go above 80% of the same quarter in 2019, you no longer qualify after the end of that quarter.

These measures are calculated each calendar quarter.

Restaurants, home builders, dentists, massage therapists and many other “non-essential” businesses who have been wholly or partially shut down by Governor Inslee’s “Stay Home, Stay Healthy” order should take this credit. Call us to figure out how to take this credit immediately!

Benefits for Individual Taxpayers Including:

  • Penalty Free Retirement Plan Distributions for Limited Time [and taxes are paid over 3 years].
  • Increase in Retirement Plan Loans to $100,000.
  • Temporary Waiver of RMD’s for taxpayers age 72 or older.
  • Federal Student Loan Payments are Deferred for 6 months.
  • $600 bonus per week for Unemployment Payments + Extension.
  • And more…

Talk to your HJ&S advisor or attend one of our webinars to learn more.

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Benefits for Business Taxpayers Including:

  • Reinstatement of Net Operating Loss Carryback Rules.
  • Retroactive [to 2018] reinstatement of 100% bonus depreciation for QIP property [restaurant property, leasehold impr. Etc.]
  • Payroll Tax Credits and Deferrals [see above]
  • Extended due dates for tax payments and filings.
  • Employee Retention Credit [see above]
  • Family First Coronavirus Response Act Tax Credits for Paid Sick Leave.
  • State and Local B&O tax interest waivers and due date extensions.

Talk to your HJ&S advisor or attend one of our webinars to learn more.

Webinar Registration

Things are changing daily

We will continue to monitor this fluid situation closely and adjust our notes accordingly. Thank you for your support.

Sign up for our Stimulus Webinars to learn more about these benefits and what you need to do.

In the meantime, please call or email any of us here at HJ&S if you need assistance!

Best Regards,
Ellen M. Sas (Managing Partner) and the entire HJ&S Team