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COVID-19 Update

At Mendoza & Associates the health and safety of our office staff and clients are our top priority. With the COVID-19 virus having an increasing impact in our community, we want to let you know how our business is working hard to address this situation.

Currently, our office are still open but we have taken proactive steps for the safety of our clients and employees. To accommodate any concerns our clients may have about the changes in federal, state, county and city tax deadlines and relief we will take the following steps to do our best in keeping you up to date, they are as follows:

  • Call us at 210-960-9021 to schedule a phone appointment in lieu of a personal visit
  • All clients are encouraged to use our Secure Firm Portal to send us files and exchange documents online securely. You can access the portal via our website or https://mendozaassociatesllc.com/clientportal.php
  • On Tuesday, March 24, we will have a web page dedicated to tax updates and tax relief due to the coronavirus outbreak. We will update this page as changes occur and new information is provided. 
  • We will send periodic mass emails as these changes occur to keep you informed, and details of helpful links will be located on our dedicated web page. 

We aim to provide you the guidance, support and hope that we all need as a community, as Americans.

During this difficult time, we are committed to serving our clients and staff with care and consideration. We will continue to monitor the situation and take precautionary measures to promote the health and safety of our staff and clients.

Thank you for being a valued client and for your continued trust as we manage through this time together. If you have any questions or need further assistance, please call us at 210-960-9021 or email us help@mendozaassociatesllc.com.

Thank you and stay safe.

TAX UPDATES

Federal 

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

  • 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

  • Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak

State

COVID-19 NEWS - Texas Comptroller

March 24, 2020

These are challenging times for businesses all over the nation. The Texas Comptroller’s office knows that during periods of economic hardship, paying or remitting taxes and fees on time can feel like an extra burden when there’s so much uncertainty. We’re thankful to those businesses that were able to remit state and local sales taxes they collected from customers in February on the March 20, 2020, due date.

We understand that virtually all of our taxpayers are doing their best to remain in compliance and be responsible in submitting the taxes they collected from their customers. With that in mind, our agency is here to offer assistance to those businesses that are struggling to pay the full amount of sales taxes they collected in February.

For businesses that find themselves in this situation, our agency is offering assistance in the form of short-term payment agreements and, in most instances, waivers of penalties and interest.

We ask that you contact our Enforcement Hotline at 800-252-8880 to learn about your options for remaining in compliance and avoiding interest and late fees on taxes due.

We strongly encourage you to use our online tools, tutorials and other resources for tax services, and establish 24/7 account access on Webfile.

We’re standing by to help Texas businesses during these difficult times.

County

  • Business Personal Property owners, please note the rendition filing deadline has been extended to MAY 15!

City

TAX RELIEF

  • Stimulus payment checks: No information available yet.

  • Existing Installment Agreements –For taxpayers under an existing Installment Agreement, payments due between April 1 and July 15, 2020 are suspended. Taxpayers who are currently unable to comply with the terms of an Installment Payment Agreement, including a Direct Deposit Installment Agreement, may suspend payments during this period if they prefer. Furthermore, the IRS will not default any Installment Agreements during this period. By law, interest will continue to accrue on any unpaid balances.

  • Private Debt Collection – New delinquent accounts will not be forwarded by the IRS to private collection agencies to work during this period.

  • Field, Office and Correspondence Audits – During this period, the IRS will generally not start new field, office and correspondence examinations. We will continue to work refund claims where possible, without in-person contact. However, the IRS may start new examinations where deemed necessary to protect the government's interest in preserving the applicable statute of limitations.

  • 0% INTEREST LOAN PROGRAMThrough a partnership with LiftFund, the City of San Antonio helps make 0% interest loans available to qualifying local small, minority, and women-owned businesses. Loans range from $500 to $100,000 and can be used to help start-up or existing business.

  • RESOURCES FOR THE FOOD AND BEVERAGE INDUSTRY 

    Visit San Antonio has created a web page that highlights restaurants providing alternative dining options such as take-out, delivery, and drive-thru services.

    If you’d like to include your restaurant on this list, email marketing-communications@visitsanantonio.com with:

    • Business name
    • Physical address
    • Phone number
  • SBA LOANS

On 3/17/20, Texas Governor Greg Abbott requested designation from the Small Business Administration (SBA) Economic Injury Disaster Declaration to access the Economic Injury Disaster Loan (EIDL) program for the entire state of Texas. This was a crucial step in making long-term, low-interest SBA loans available to qualifying businesses across the state.

To begin the loan application process: https://disasterloan.sba.gov/ela/

As you prepare to submit your application, the following financial/accounting data and information will most likely be required. You should have these documents ready to immediately upload into the SBA Disaster website as soon as it opens for the Coronavirus emergency relief for Central South Texas:

  1. Written narrative statement justifying the nature and scope of economic injury and how/why nature of business was adversely impacted by the Coronavirus (one page/no more than two), such loss of revenues, cancelled contracts, interrupted supply chain, etc.

  2. Current Accounts Payable and Accounts Receivable Aging as of date of filing for the loan

  3. Three (3) years’ 1040 Federal Income Tax Returns for the business & owners

  4. Three (3) years’ company FYE Income Statement and Balance Sheet and latest YTD Financial Statements (Company prepared)

  5. Company and Owners’ Debt Schedule Tables [e.g., Lender, original loan amt., date, current balance, interest rate (F or V?), collateral, purpose of loan, guarantors, status (e.g., current or past due with explanation) per row in table]

  6. Monthly (reasonably detailed) two (2) years cash flow projections

  7. Three (3) years’ Monthly Sales History up to date of filing for loan

  8. Current copies of owners’ credit reports from the three (3) credit bureaus with explanations for any negative reports

  9. Owners’ Personal Financial Statements (SBA Form 413)

  10. SBA Form of Personal History for each (10% or more) owner

ADDITIONAL INFORMATION ABOUT DISASTER LOANS:

https://disasterloan.sba.gov/ela/Documents/Three_Step_Process_SBA_Disaster_Loans.pdf

What Others Say

"You guys rock! The service was excellent. Thank you for making it painless, pleasant and most of all hassle free!"

"I have gotten at least 50 times the value from Mendoza & Associates LLC. Thanks for the great service. It's exactly what I've been looking for."

"Thanks guys, keep up the good work! No matter where you go, Mendoza & Associates LLC is the best, most professional Full Service Bookkeeping & Tax firm around! I'd be lost without them."