RFS UPDATES

CARES Act: Expected SBA Application Start Date

April 3, 2020—Some banks are expected to begin to accept applications for the CARES Act SBA loans as of midnight on April 3, 2020. Watch this video presented by Ted Rose and Tiffany Kao of Rose Financial Solutions for the latest information on the CARES Act’s SBA...

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Senate Passes CARES Act | Update: March 26, 2020

The provisions of the CARES Act are starting to solidify. Key items to keep in mind: Loan amounts will be limited to 2.5 times average monthly payroll costs for prior 12 months (including salaries, commission, bonuses, health insurances, retirement payments, time-off...

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CARES Act | Expedited SBA Loans and Forgiveness

The Coronavirus Aid, Relief and Economic Security Act, or CARES Act, is expected to pass Congress soon. The act provides emergency assistance and health care response for individuals, families, and businesses affected by the 2020 coronavirus pandemic.  Rose...

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COVID-19 Update: Ensuring Continued Service

The novel coronavirus (COVID-19) concerns are elevating each day and we are all hopeful this health issue will be contained with a remedy in a reasonable amount of time. RFS’ number one priority is the safety and well-being of our people, clients, families, and the...

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Tax Filing and Payment Deadline Update

As we announced earlier, tax payments for tax year 2019 and 2020 first quarter estimates originally due on April 15 were deferred automatically to July 15. As an update to that announcement, yesterday Treasury Secretary Steven Mnuchin sent out a tweet stating “At...

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Important IRS Announcement | Filing and Payment Deadline

On Tuesday, March 17, Treasury Secretary Mnuchin announced a series of tax relief measures designed to assist taxpayers and tax preparers during the coronavirus (COVID-19) pandemic. On Wednesday, March 18, the Internal Revenue Service released Notice 2020-17 providing...

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SBA Rule on Small Business Runway Extension Act Announced

Effective January 6, 2020, the U.S. Small Business Administration (SBA) will change the period of measurement for receipts-based size calculations from three years to five years. This change is the result of the Small Business Runway Extension Act of 2018 and SBA’s...

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