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2019 Tax Filings and Payment Deadline Extended to July 15, 2020
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Today, Mayor Muriel Bowser and Chief Financial Officer Jeffrey DeWitt announced that the deadline for taxpayers to file and pay their 2019 District of Columbia individual and fiduciary income tax returns (D-40, D-41, and D-40B), partnership tax returns (D-65), and franchise tax returns (D-20, D-30) is extended to July 15, 2020. This means taxpayers will have an additional 90 days to file and pay from the original deadline of April 15, 2020.
The Internal Revenue Service has also extended the federal filing and payment deadline to July 15, 2020.
The Office of Tax and Revenue (OTR) encourages taxpayers who are able to file their returns electronically to do so. For additional information, please contact OTR’s Customer Service Center at (202) 727-4TAX (4829).
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Small Business Shutdown Resources
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Helpful information and links from
SB Works
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Expanded unemployment coverage, claims processing, and payment limits. More information available
here
.
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Federal SBA Economic Injury Disaster Loans are now available for businesses nationwide seeing a loss of revenue from the pandemic and shutdowns.
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Up to
$25,000 loans
with no collateral, up to two million dollar loans with pledged collateral.
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Typically 30 year loans, at 3.25-3.5% interest, with no payment for the first year.
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Faster turnaround of first payments, target time after application completion of fewer than 30 days.
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Apply online directly through the
Small Business Administration
.
DC Small Business Assistance grant program
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Details and application will come out this
Tuesday, March 24
, but generally program will look to provide small grants to DC businesses/Independent Contractors who are seeing a 25% or more decrease in revenue at this time
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Link to the
S
mall Business Grants Program.
For all applications we recommend you prepare the following documents:
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Business License and most recent clean hands
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Two years of previous business/personal tax returns for all owners
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A profit and loss sheet for the time period of
Jan 1, 2019
, to
Dec 31, 2019
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Monthly profit and loss sheets for the last year/15 months
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A list/schedule of all your liabilities (payments due, bills, payroll, rent/lease agreements, set expenses, etc.)
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Important Resources for Small Businesses from CNHED
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DC Government will operate a $25 million fund,
Small Business Recovery Microgrants
, to support small businesses impacted by COVID-19 during this public health emergency. The grant application process will begin on Tuesday, March 24.Business should be prepared to submit
2017 and 2018 tax returns
,
2019 Profit and Loss Statement
and
Schedule of Liabilities
.
Please review the steps detailed in the infographic below before starting your application. For additional information visit:
https://coronavirus.dc.gov/recovery-business
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As you look to apply for these SBA loans, here some things to keep in mind and simplify the process:
Start
the online application process by
clicking here
and then press
Apply for Assistance
;
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Prepare
to apply by reviewing the “
Three Step Process
” of SBA Disaster Loans to understand what to expect in the application process;
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Remember
that the online application requires at least
three (3) years
of tax returns; and,
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Contact
the SBA Disaster Assistance Customer Service Center at
1.800.659.2955
(7 AM to 9 PM - every day) or
disastercustomerservice@sba.gov
for help in completing the online application.
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If you need any additional assistance in the application process, please do not hesitate to contact DSLBD’s DC PTAC Team at
DSLBD.PTAC@dc.gov
or 202.727.3900 (select option #7).
Other COVID-19 Financial Assistance Opportunities
Other COVID-19 Financial Assistance Opportunities
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D.C. Policy Center survey
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COVID-19 Small Business Impacts Questionnaire
How is COVID-19 affecting your small business?
The purpose of this
questionnaire
is to help researchers at the D.C. Policy Center learn how COVID-19 and its economic impacts are affecting small and local businesses in and around Washington, D.C. Your responses will inform our work on how COVID-19 is affecting D.C. businesses and workers, and what policy responses would be most helpful. Individual responses are confidential, but the broader research will be shared with policymakers, government officials, members of the business community, and others, including publications on our website,
dcpolicycenter.org
.
Please complete the questionnaire
by Wednesday, March 25th
. We hope you will help by answering a few questions about your own business circumstances and how COVID-19 is impacting you. This questionnaire is not meant to be a representative survey but will provide valuable insights to our researchers that will be crucial to informing our work. (If you are a nonprofit organization,
please click here
.)
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From Kathy Hollinger, President and CEO:
Dear Restaurant Community,
As we start off what will likely be another busy week, we want to provide you with helpful updates on the local and national level that will impact your operations, employees and customers.
The Senate and House are currently working on Phase 3 of the COVID-19 Congressional response. This will include relief for businesses, and we will send updates as we have more clarity on what will be included in the legislation. Our partners at the National Restaurant Association are aggressively advocating on our behalf to ensure the unique needs of our industry are addressed with all-size operations. Members of the House and Senate are attempting to reach a consensus deal, however they have not been able to do so at this time. This is a quickly moving situation and we will share details of whatever legislation moves forward once we have them. It is unlikely all of our needs will be met in this Phase 3 of legislation, and there will likely be a Phase 4 to address continuing needs.
Click here
to tell Congress to put restaurants first.
District of Columbia
Mayor Bowser held a press conference today and encouraged residents to stay indoors. This is not a shelter in place directive, and restaurants continue to be open for take out and delivery. She thanked our industry and workers for adapting so quickly to new mandates while continuing to be additional food sources for our community.
Maryland
An Executive Order has been enacted by Maryland Governor Larry Hogan, which closes all non-essential businesses, organizations, and facilities in Maryland effective at 5pm today. Restaurants are considered essential businesses for take out and delivery service. The Governor did NOT issue a shelter-in-place directive at this point.
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CM Nadeau hosting telephone town hall on Wednesday
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Next Wednesday, March 25 from 5pm - 6pm, Ward 1
Council Member Brianne Nadeau
be hosting a Telephone Town Hall, discussing updates and answering any questions you may have about Council's emergency legislation in response to COVID-19.
Register by March 24th
to join the call.
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From the office of the Attorney General
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The Office of the Attorney General (OAG) for the District of Columbia (oag.dc.gov) is seeking input from District students on DC laws and policies that affect young people. Beginning on Tuesday, March 24, OAG is hosting four OAG Twitter chats in March and April on Tuesday’s from 12:00-1:00pm. These social media chats will cover topics that are important during the COVID-19 crisis and relevant to youth.
Students can earn up to 12 hours of community service between Tuesday, March 24- Friday, April 17, 2020, by participating in the Twitter chats and by writing a 300-500-word essay on each chat topic. To earn the service hours, students must comment on Twitter at least four times during the Twitter chat (between 12:00-1:00pm ET) using the hashtag for that week’s chat and by retweeting (sharing) the OAG content or any of the panelists content twice. Additionally, students will be directed to complete an online form at the completion of each chat and submit to OAG a 300-500-word essay on the questions located on the form. The questions will directly relate to the Twitter chat for that week. One question will ask students to share their ideas about D.C. policies that are relevant to the chat topic. If students complete the requirements, they can earn three community service hours each week.
For questions, please email Christina Jones, OAG’s Special Counsel for Strategic Youth Initiatives at
Christina.Jones2@oag.dc.gov
.
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Update on SBA Disaster Loans
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Update:
There will be a loan deferral for a year so business can have working capital more immediately and for longer - without having to worry about debt repayment until next year.
DC businesses can
start the process by clicking here
and then “Apply for Assistance.” You can prepare to apply by reviewing the “
Three Step Process
” of SBA Disaster Loans to understand what to expect in the application process. Disaster loan applicants can call the SBA Disaster Assistance Customer Service Center at 1-800-659-2955 (7 am -9 pm every day) or email
disastercustomerservice@sba.gov
for help in completing their online application. SBA staff and its Resource Partner network, consisting of Small Business Development Centers, SCORE Chapters, Women’s Business Centers, and Veterans Business Outreach Centers will continue to support small businesses with accessing federal resources and navigating their preparedness plans. Local assistance can be found at
www.sba.gov/local-assistance
. DC businesses can also download the
2020 Small Business Resource Guide for the Washington Metropolitan Area
as a resource.
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"Buy Restaurant Bonds" campaign encourages customers to support restaurants by gift card purchases
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The Adams Morgan Partnership is trying to help restaurants and bars that have forced to close or severely limit their services by encouraging customers to purchase gift cards for future dining. We are trying to make a splash with this campaign -- modeled after the
Buy War Bonds
campaigns of WWI and WWII -- to help draw attention to our 100+ restaurants and employees that are facing an uncertain future. Please join in via your own social media accounts using the hashtag
#BuyRestaurantBonds
Please tag us in your social media posts about the operating status of your business so we can pass the information along.
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POST YOUR EVENT ON OUR WEBSITE FOR FREE
If your business has an upcoming event happening in Adams Morgan, you can
submit it to our website here
. Submissions are moderated to ensure they are relevant to the Adams Morgan community.
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SPONSORSHIP OPPORTUNITIES
Sponsor one of our community events! Partner with our community while reaching some of the city's most desirable demographics. For details, contact
Kristen Barden
at
202-997-0783.
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©
Adams Morgan Partnership
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