BLS Insights

Discover the depth of BLS knowledge and information.

Month: March 2020

COVID-19 Update: New Rules for Taking Hardship Distributions and Loans from Qualified Plans and IRAs

March 30, 2020

Many Americans are taking a financial beating as a result of the COVID-19 pandemic. It’s bad enough that those with a retirement plan are seeing their retirement savings take a … Continued

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COVID-19 Update: Paycheck Protection Provisions of the CARES Act

March 27, 2020

Paycheck Protection Provisions of the Keeping Workers Paid and Employed, Health Care System Enhancement and Economic Stabilization Section – What You Need to Know After much debate, Congress passed the … Continued

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COVID-19 Update: Business Provisions of the CARES Act

March 26, 2020

Business Provisions of the Keeping Workers Paid and Employed, Health Care System Enhancement and Economic Stabilization Section – What You Need to Know Now As we mentioned in our last … Continued

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COVID-19 Update: Individual Taxpayer Provisions of the CARES Act

March 26, 2020

Individual Taxpayer Provisions of the Keeping Workers Paid and Employed, Health Care System Enhancement and Economic Stabilization Section – What You Need to Know Now We usually don’t see two major … Continued

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COVID-19 Relief: Single Audit Extension

March 26, 2020

On March 19, 2020, the U.S. Office of Management and Budget (OMB) released memorandum M-20-17, Administrative Relief for Recipients and Applicants of Federal Financial Assistance Directly Impacted by the Novel … Continued

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Families First Coronavirus Response Act Eases the Burden on Nonprofit Organizations

March 25, 2020

Nonprofits, similar to their profit-oriented counterparts, are feeling the negative effects that business interruption caused by the coronavirus pandemic can have on the ability to carry out their missions. Some … Continued

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COVID-19 Tax Update: Families First Coronavirus Response Act

March 20, 2020

With non-essential type businesses shutting down (either voluntarily or state-ordered), business owners are worried and wondering whether they will be able to pay their bills and if they need (and … Continued

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COVID-19 Tax Relief: Extension to File

March 20, 2020

Posted by Jordon N. Rosen, CPA, AEP The BLS Team is actively monitoring the rapidly developing changes related to COVID-19 and will continue to provide updates as they apply to our … Continued

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COVID-19 Tax Relief: Extension to Pay

March 19, 2020

I thought I had seen it all after 42 years in practice. I was wrong. The events surrounding the Coronavirus pandemic that have changed our daily lives for the foreseeable … Continued

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Delaware, Maryland, and Pennsylvania Division of Revenue Alerts

March 16, 2020

As of March 16, 2020, the Delaware, Maryland, and Pennsylvania Division of Revenue posted the following alerts: Delaware: The Delaware Division of Revenue has issued an announcement that while the … Continued

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