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Client Alerts

[Updated] COVID-19 Pandemic: Business Relief Options Analysis

4.14.20 | Client Alert – COVID-19 Update

Since the time Berdon’s COVID-19 Business Relief DECISION CHART was released, the IRS issued guidance on the ability to defer employment tax deposits. In an April 10, 2020 FAQ, the government noted that an employer who has received a Paycheck Protection Program (PPP) loan can still defer the deposit and payment of its share of Social Security taxes without penalty through the date the lender issues a decision to forgive the loan.

Please reach out to your Berdon advisor if you have any questions and visit the Berdon COVID-19 Information Center for more insight on how the pandemic is impacting businesses and individuals.