Coronavirus disease-2019: Illinois Small hospitality businesses receive more funding.
We have entered into April, and small businesses across the US are not looking forward to pleasant Easter holidays. Due to the havoc that’s being wreaked by the Novel Coronavirus disease-2019. But, those in the small hospitality business industry in Illinois, perhaps, have something to celebrate. As they have received additional funding, over and above grants from the Treasury. And tax favors from the IRS, as we reported last week.
With the latest Illinois package;
- A random lottery was run, and 700 applying businesses were granted amounts ranging from $14,000 to $30,000.
- The grant was strictly for small bars, restaurants, and hotels.
- The funds are meant to support the small businesses over the COVID-19 period, which is still not yet clear when it is coming to an end.
It might happen that you are in Illinois and missed this announcement, or are in any State in the US and have missed information that led to tens of thousands in small business funding, your next action must be to make sure you position yourself at a place where you get all the news coming out.
As such, we keep on encouraging that you follow the IRS’ several platforms, and keep an eye out for the US Treasury announcements as well as your State and city. For clarification on several other tax information and what’s next with this pandemic, get in touch with us and we will be of great service.
Ps: If you have a question about what is happening and what needs to be done get Coronavirus Stimulus check. Go to our Coronavirus FAQ: The Cares Act. Don’t forget that we can help you file your taxes! Have a Free Quick tax Chat with your Dave Ramsey Endorsed Tax Accountant.
