COVID-19 Business Resources

WELLINGTON EMERGENCY ORDER NUMBER 1

Effective at 5:00 PM on March 26, 2020, Wellington is directing the closure of all public and private parks, playgrounds, golf courses, recreational facilities, pools, and public seating areas located within the Village (some exceptions apply, see below).

Visit our Executive Orders webpage to read this Order and other County and State Orders.

Exceptions: Seating areas located within private gated communities may remain open provided they adhere to the CDC and FDOH social distancing guidelines, including maintaining 6 feet of separation between individuals and prohibiting gatherings of more than 10 people. Further, seating for more than 10 people shall be removed. This Emergency Order does not apply to one and two-family homes that have private pools, play structures and other recreational facilities.

This Emergency Order does not apply outside of Wellington.

This Emergency Order is supplemental and in addition to the Executive Orders issued by Governor DeSantis, including, but not limited to, Executive Orders 20¬70, 20-71, 20-72 and 20-83, as well as any Emergency Orders issued by Palm Beach County, including but not limited to Emergency Orders No 2 and No. 3, and any additional Executive Orders that may be issued by Governor DeSantis or the President or Emergency Orders issued by Palm Beach County that may be applicable to Wellington.

Any provision(s) within this Emergency Order that conflict(s) with any county, state or federal law or constitutional provision, or conflict(s) with or are superseded by a current or subsequently-issued Executive Order of the Governor or the President of the United States or any county-wide Emergency Order or ordinance, shall be deemed inapplicable and deemed to be severed from this Emergency Order, with the remainder of the Emergency Order remaining intact and in full force and effect. To the extent application of some or all the provisions of this Emergency Order is prohibited on the sovereign land of a federally or state recognized sovereign or Indian tribe, such application is expressly excluded from this Emergency Order. Section 7.

This Order shall be effective at 5:00 p.m. on March 26, 2020 and shall last for the duration of the declared emergency.

President Signs Stimulus Bill (03-27-20)

The President has just signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, H.R. 748). In addition to the tax provisions we previously reported, the CARES Act provides for Payroll Protection loans of up to $10 million to COVID-19 impacted businesses. The loans:

  • Are guaranteed 100% by the Small Business Administration (no personal guarantees or collateral required);
  • Must be taken out between February 15, 2020, and June 30, 2020;
  • May be forgiven for amounts used to cover basic operating expenses such as payroll costs, rent and mortgage, and utilities for up to two months from the loan origination date (excluded from COD income); and
  • Have a maximum maturity rate of 10 years and 4% interest if not forgiven.

Also, in response to the questions we’ve had about the amounts of the stimulus checks individuals will receive, here is a helpful link to compute the payments:

www.kiplinger.com/tool/taxes/T023-S001-stimulus-check-calculator-2020/index.php

For your reference, here is a list of CARES Act tax provisions:

  • Tax credit rebates of up to $1,200 per individual and $500 per child that are phased out for taxpayers with AGI over $75,000 ($150,000 MJF and $112,500 HOH) and will be "rapidly advanced;"
  • Deferral of 50% of an employers’ payroll tax deposits for 2020 (with 50% of deferred amount due by December 31, 2021, and 50% due by December 31, 2022);
  • A refundable employer retention credit equal to 50% of qualified wages against quarterly employment taxes, to offset up to $10,000 of wages paid per employee in 2020;
  • The reinstatement of NOL carrybacks for the 2018–2020 taxable years, and repeal of the 80% taxable income limitation for the 2018–2020 taxable years;
  • A TCJA technical correction that classifies qualified improvement property as 15-year recovery period, allowing the bonus depreciation deduction to be claimed for such property retroactive as if it was included in the TCJA at the time of enactment;
  • Penalty-free withdrawals of tax retirement funds of up to $100,000 (income recognized over a three-year period);
  • A temporary waiver of RMD requirements in 2020;
  • Increased individual and corporate charitable contribution deductions for 2020;
  • The deferral of excess business loss limitations until 2021;
  • Deferral of an employer’s 2020 minimum contributions to its single-employer defined benefit pension plan until January 1, 2020;
  • An increase in the business interest deduction limitations from 30% to 50% of adjusted taxable income for the 2019 and 2020 taxable year;
  • An exclusion from income for employer-payments made on employee student loans paid before January 1, 2021;
  • The acceleration of the corporate credit for prior-year minimum tax liability, allowing 100% of the credit to be claimed in 2019 (2018 at the election of the taxpayer); and
  • A COD exclusion of small business Payroll Protection loans forgiven under the Act.

IRS

Treasury, IRS and Labor announce plan to implement Coronavirus-related paid leave for workers and tax credits for small and midsize businesses to swiftly recover the cost of providing Coronavirus-related leave

The U.S. Treasury Department, Internal Revenue Service (IRS), and the U.S. Department of Labor (Labor) announced that small and midsize employers can begin taking advantage of two new refundable payroll tax credits, designed to immediately and fully reimburse them, dollar-for-dollar, for the cost of providing Coronavirus-related leave to their employees. This relief to employees and small and midsize businesses is provided under the Families First Coronavirus Response Act (Act), signed by President Trump on March 18, 2020. 

For more information please visit the IRS website.

Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed

The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.

Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.

Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief. Individual taxpayers who need additional time to file beyond the July 15 deadline, can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.

The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.

"Even with the filing deadline extended, we urge taxpayers who are owed refunds to file as soon as possible and file electronically," said IRS Commissioner Chuck Rettig. "Filing electronically with direct deposit is the quickest way to get refunds. Although we are curtailing some operations during this period, the IRS is continuing with mission-critical operations to support the nation, and that includes accepting tax returns and sending refunds. As a federal agency vital to the overall operations of our country, we ask for your personal support, your understanding – and your patience. I’m incredibly proud of our employees as we navigate through numerous different challenges in this very rapidly changing environment."

The IRS will continue to monitor issues related to the COVID-19 virus, and updated information will be posted on a special coronavirus page on IRS.gov.

This announcement comes following the President’s emergency declaration last week pursuant to the Stafford Act. The Stafford Act is a federal law designed to bring an orderly and systematic means of federal natural disaster and emergency assistance for state and local governments in carrying out their responsibilities to aid citizens. It was enacted in 1988.

Treasury and IRS will issue additional guidance as needed and continue working with Congress, on a bipartisan basis, on legislation to provide further relief to the American people.