Social Security Recipients Will Automatically Receive Economic Impact Payments

April 1, 2020
WASHINGTON – The U.S. Department of the Treasury and the Internal Revenue Service today announced that Social Security beneficiaries who are not typically required to file tax returns will not need to file an abbreviated tax return to receive an Economic Impact Payment. Instead, payments will be automatically deposited into their bank accounts.

“Social Security recipients who are not typically required to file a tax return do not need to take an action, and will receive their payment directly to their bank account,” said Secretary Steven T. Mnuchin.

The IRS will use the information on the Form SSA-1099 and Form RRB-1099 to generate $1,200 Economic Impact Payments to Social Security recipients who did not file tax returns in 2018 or 2019. Recipients will receive these payments as a direct deposit or by paper check, just as they would normally receive their benefits.

Link: U.S. Department of the Treasury

Fort Worth ISD Creates Database of Local Resources for Students and Families

Fort Worth ISD Creates Database of Local Resources for Students and Families

Fort Worth ISD has researched the available resources that provide food and supplies to students and families in Fort Worth during this challenging time. The District is working with the Tarrant Area Food Bank, churches, and other dedicated partner organizations to help families meet their nutritional and health needs. The City of Fort Worth, Boys and Girls Club, YMCA and other groups are also working hard to provide meals-to-go and boxes of food to families. Read more…

CARES Act: Paycheck Protection Program (PPP) Available To Nonprofit Organizations

CARES Act: Paycheck Protection Program (PPP) Available To Nonprofit Organizations

ECFA – The CARES Act – Key Impact on Churches and Nonprofits
Description:
This Webinar-On-Demand focuses on CARES Act in response to the COVID-19 crisis. We welcome guest presenters Michael Batts, CPA, and Frank Sommerville, JD, CPA who unpack the nearly 900-page legislation and its key impacts on churches and ministries.
Just a few of these major changes from the CARE Act include
Significant financial relief for qualifying employers
Expansion of unemployment benefits
A new “universal” charitable deduction benefit to encourage giving by all taxpayers
Link for ECFA Accounts and Registration 

COVID-19, CARES Act Assistance Available To Nonprofit Organizations
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), an over $2 trillion emergency economic relief bill enacted to provide immediate aid to individuals and businesses, in response to the coronavirus outbreak, includes important provisions applicable to nonprofit organizations.Eligibility of a nonprofit organization under specific CARES Act programs or provisions will depend on its tax classification and the number of its employees.. Read more here…

Paycheck Protection Program (PPP)
Link to Site: An SBA loan that helps businesses keep their workforce employed during the Coronavirus (COVID-19) crisis.

Comfort Food Care Packages: Feed Youth and Families in Need and Stay Open

Comfort Food Care Packages: Feed Youth and Families in Need and Stay Open

Generous Texans and Local Restaurants Helping to Feed Youth and Families in Need

Governor Greg Abbott today announced the Comfort Food Care Package (CFCP) program to provide meals for at-risk youth and families in communities across Texas as the state responds to COVID-19. As part of the program, participating restaurants offer CFCPs for patrons to purchase on behalf of families and youth in need. Each care package contains enough food to feed a family of 5 to 6 and will be delivered to recipients’ homes. The program is a partnership between the Governor’s Public Safety Office, the Texas network of Family and Youth Success Programs (formerly called Services to At-Risk Youth), Favor Delivery, and the Texas Restaurant Association.

Read more…