Maui Coronavirus Updates

IRS Details Resources For Independent Contractors

April 3, 2020, 9:12 AM HST
Listen to this Article
1 minute
Loading Audio... Article will play after ad...
Playing in :00
A
A
A

Photo by Wendy Osher.

The Internal Revenue Service (IRS) and the Coronavirus Aid, Relief, and Economic Security (CARES) Act provide the following resources for independent contractors to help them cover their financial needs during the public health emergency.

Unemployment Insurance

The CARES Act provides independent contractors, self-employed individuals, and gig-economy workers with access to unemployment benefits.  Income verification procedures for independent contractors have yet to be released.  Our office is monitoring these updates so please check back frequently for more details.  For more information, click here.

Direct Cash Payments

The CARES Act also directs the Department of the Treasury to make a one-time direct payment to individuals to help them recover from the economic impact of the COVID-19 pandemic.  For more information, click here.

ARTICLE CONTINUES BELOW AD

Small Business Assistance

ARTICLE CONTINUES BELOW AD

Relief is also available for small businesses that have trouble covering payroll and operating expenses because of the COVID-19 pandemic.  The new law creates a Small Business Administration (SBA) loan program, called the “Paycheck Protection Program” (PPP), that expands benefits and eligibility for SBA disaster loans, covers payments on existing SBA loans, and creates new tax credits to help cover the cost of paid leave and payroll.  For more information, click here.

Tax Relief for Individuals

The IRS and the CARES Act are providing several categories of tax relief for individuals to help them cover their financial needs during this time.  For more information, click here.

E-Mail Newsletters Receive daily or weekly updates via e-mail. Subscribe Now
News Alerts Breaking news alerts on your mobile device. Get the App

Comments

This comments section is a public community forum for the purpose of free expression. Although Maui Now encourages respectful communication only, some content may be considered offensive. Please view at your own discretion. View Comments