Applying for Disaster Assistance
U.S. Small Business Administration: Steps to Apply for Disaster Assistance
Before you apply for assistance, below are the steps you need to take to start your recovery process:
Step One: Take photos of your damaged home or business and belongings.
Step Two: Make a list of damaged/lost items.
Step Three: Save yourself time. If you have insurance, you must file a claim with your insurance company. If you do not have insurance, continue to Step Four.
Step Four: Now that you’re ready to apply for disaster assistance visit FEMA site to start your application process.
Internal Revenue Service
IRS announces tax relief for Texas severe winter storm victims
TX-2021-02, February 22, 2021
TEXAS — Victims of winter storms that began February 11, 2021 now have until June 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced today that affected taxpayers will receive tax relief.
Reporting Disaster Scams
Unfortunately, there are individuals who will attempt to take advantage of others during a vulnerable time. The Texas Attorney General’s Office stands ready to prosecute those who violate the law and seek to bring harm to Texans.
Details on identifying disaster scams, such as fake home repair contractors and price gouging on essential goods and services are available online at the Texas Attorney General’s Office.
Texans can report suspicious activity to the Texas Attorney General’s Consumer Protection Hotline at (800) 621-0508 or online.
Paycheck Protection Program
There have been some significant changes made to the Paycheck Protection Program that went into effect on February 24th. Below is a summary:
- Established a 14-day, exclusive PPP loan application period for businesses and nonprofits with fewer than 20 employees as of February 24th, 2021.
Beginning the first week of March:
- Allow sole proprietors, independent contractors, and self-employed individuals to receive more financial support by revising the PPP’s funding formula for these categories of applicants
- Eliminate an exclusionary restriction on PPP access for small business owners with prior non-fraud felony convictions, consistent with a bipartisan congressional proposal
- Eliminate PPP access restrictions on small business owners who have struggled to make federal student loan payments by eliminating federal student loan debt delinquency and default as disqualifiers to participating in the PPP; and
- Ensure access for non-citizen small business owners who are lawful U.S. residents by clarifying that they may use Individual Taxpayer Identification Number (ITIN) to apply for the PPP.
- Information courtesy of United Corpus Christi Chamber of Commerce.
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