Note: While the information on this page was prepared with information from IRS.gov, this topic is changing constantly. We strongly suggest that you refer to IRS information found on the web page titled, Coronavirus Tax Relief and Economic Impact Payments. Also, SmallBusiness.com always suggests that small business owners refer to a trusted financial and tax advisor before making any financial decisions.


The Families First Coronavirus Response Act

Last month, the IRS issued an overview regarding tax credits that can be used to reimburse employers for the costs of providing paid sick leave and paid family and medical leave to employees unable to work because of the coronavirus (COVID-19). For more information, see the complete Families First Coronavirus FAQ.


Have a tax-related payment question? The IRS.gov may have the answer here.

Taxpayers within the small business community are reminded that the IRS regularly posts new and updated answers to the most frequently asked questions about Economic Impact Payments and the Get My Payment tool. Those who wish to know the status of their Economic Impact Payment are reminded to visit Get My Payment regularly.


Economic impact payments are still being sent by prepaid debit cards.

Some Economic Impact Payments are still being sent by prepaid debit card. The debit cards arrive in a plain envelope from “Money Network Cardholder Services.” Two sets of IRS frequently asked questions have also been updated to help taxpayers get answers about their payments, including those arriving on prepaid debit cards. Read the entire news release and FAQ at IRS.gov.


The IRS is offering materials related to multiple-language economic impact payments.

To help reach people who don’t normally file a tax return, the IRS has embarked on a sweeping outreach effort to share information in multiple languages inside and outside the tax community. The IRS has made available additional material for partner groups sharing information related to Economic Impact Payments, including a new toolkit in Spanish and a variety of other print and visual items available.


The IRS continues to roll out new tools for filing, paying, checking accounts and answering questions

The IRS has announced several online tools that are available to help taxpayers get the tax information they need as the IRS has limited operations due to the coronavirus. The tools can be found on IRS.gov are available 24 hours a day:

The products and tools include:

  • Payment option information
  • Tax account information online
  • Economic Income Payments Information
  • Scam alerts

Note: The information on this page and links to which they point were prepared by the IRS. SmallBusiness.com always suggests that small business owners refer to a trusted financial and tax advisor before making any financial decisions.

Related Articles

13
An Overview of the New & Improved Small Business Paycheck Protection Program

The PPPFA provides two new exceptions for borrowers to qualify for forgiveness even if their workforce isn’t fully restored.

14
How John Krasinski Grew ‘Some Good News’ Into Some Even Greater News?

How actor John Krasinski found ‘some good news’ in the era of coronavirus.

15
State-by-State Listing of COVID-19 Resources

Each state has its own unique listing of COVID-19 resources. Here are some from each.

16
Coronavirus (COVID-19): Small Business Guidance & Loan Resources (SBA)

Recommended strategies that employers can use now.

17
100+ BigCo CEOs Predict Dire Consequences if Congress Fails to Pass Small Business Pandemic Relief

100 CEOs called on Congress Monday to pass long-term relief to ensure small businesses survive the coronavirus pandemic.

18
Retailers (Large & Small) are Seeking a Nationwide Mask Policy

Since the onset of the pandemic, retailers — of all sizes — have been on the front lines of interactions with customers and suppliers.

19
President Trump Signs Small Business Loan Funding Bill

Funding package increases aid to small businesses, hospitals and Covid-19 testing.

20
Lawmakers, Officials are Preparing Significant Changes to PPP Loan Program

Both changes follow small business owners who say they can’t hire back staff while they are closed during the coronavirus pandemic.

21
Helpful Work-Related COVID-19 Articles from the U.S. Centers for Disease Control and Prevention

CDC resources and articles organized in a work-related table of contents.

22
Survey: Small Business Employees Say Covid-19 Could Lead to More Work-at-Home Adoption

Employees of companies — large and small — are bracing for the ongoing impacts of Covid-19.