Worthtax Has the Latest COVID-19 Economic News
As the whole world grapples with the personal, professional, and economic fallout of the COVID-19 outbreak, we want to help our tax and small business clients stay up-to-date on the latest news that affects them each day. Keep checking back because we will keep informing you of the top headlines.
There’s a Meme for That!
We have all seen the endless memes that offers those little quips of information. We believe your need the whole story. Therefore, we though and put together a list of articles will help you to track the latest information on how the Coronavirus is affecting your business and you personally. After all, we would rather not mask the issue.
Here is some of the important economic news to keep up with today:
May 2020 Covid-19 Economic News to Keep You Up-to-Date
May 4
The Hill: Obstacles mount for deal on next coronavirus bill
Forbes: Macy’s, Costco, Trader Joe’s, Zappos Approaching Return Of Retail From Many Angles
NBC News: What states are reopening? See where lockdowns have been lifted in each state.
Fast Company: No face mask? No Uber for you
CNBC: As traditional college campuses shut down, online schools get their chance to shine
May 3
The Hill: Retail chains face uphill battle getting shoppers back in stores
USA Today: Besides millions of layoffs and plunging GDP, here’s another worry for economy: Falling prices
Bloomberg: U.S. Economy Poised to Mirror the Post-WWII Glory
CNBC: As coronavirus pandemic pushes more grocery shoppers online, stores struggle to keep up with demand
May 2
The Daily Beast: Another Thing the Virus Could Kill: More Than 1,000 Colleges and Universities
The Hill: Small businesses face big decisions on reopening
Forbes: 10 Things Freelancers Can Do To Weather The Coronavirus
The New York Times: #CancelRent Is New Rallying Cry for Tenants. Landlords Are Alarmed.
CNBC: These business owners couldn’t get a forgivable loan at first. Then it was easy.
May 1
The Hill: IRS: Companies who receive PPP loans will not qualify for tax deductions
CNBC: Wells Fargo will no longer accept applications for home equity lines of credit
Politico: Justice Department launches probe of small business loans
Forbes: Here’s A Look At The Impact Of Coronavirus (COVID-19) On Colleges And Universities In The U.S.
Entrepreneur: To Survive the COVID-19 Crisis, You Have to Think Long-Term
April 2020 Covid-19 Economic News Articles
April 30
Bloomberg: Job Losses Deepen in Pandemic With U.S. Tally Topping 30 Million
The Wall Street Journal: Stimulus Checks Sent to Dead Relatives Should Be Returned, Mnuchin Says
CNBC: Big banks temporarily shut out of small business loan portal, Treasury and SBA announce
The Washington Post: How the pandemic consumed the labor market
Fast Company: An epidemiologist on what steps to take if you are preparing to reopen your business
April 29
The Hill: US economy contracts at 4.8 percent rate, most since Great Recession
Business Insider: Award-winning chef Andrew Zimmern says restaurants are facing a near-extinction event and pinpoints the real problems in America’s supply chain
Forbes: 11 Tax Tips For The Unemployed During The COVID-19 Pandemic
CBS News: Trump invokes Defense Production Act to keep meat processing plants open amid coronavirus crisis
April 28
Politico: Mnuchin warns big companies of criminal penalties over small business loans
Los Angeles Times: Having trouble with the IRS site? Try all caps — yes, really
CNN: Glitches hamper second round of small business loan funding
The Hill: Poll: Almost 9 in 10 concerned about economic collapse
CNBC: Food banks are closing and losing their workforce because of the coronavirus
April 27
The Hill: Small business coronavirus loan program reopens under crush of demand
Forbes: Need A Loan Now That The Paycheck Protection Program Is Running Again? Try These Nonbank Lenders
The New York Times: The Tax-Break Bonanza Inside the Economic Rescue Package
CNBC: Public companies took far more small business loans than first thought — here’s the latest tally
The Hill: US capping how much banks can lend as part of coronavirus emergency program
April 26
Entrepreneur: Thank You, Small Business
Forbes: For Up To 100% PPP Loan Forgiveness, Take These 3 Steps The Very Moment You Get Your Loan
The Hill: Scammers pounce as stimulus checks start flowing
Bloomberg: The Back-to-Work Math Gets Messy for America’s Newly Unemployed
CNN Business: ‘The food supply chain is breaking,’ Tyson says as plants close
April 25 Covid-19 Economic News
The Hill: IRS announces deadline for SSI, VA recipients to quickly get stimulus payments for children
CNBC: Hollywood’s small businesses in crisis as coronavirus shuts everything down
Tax Foundation: A Visual Guide to Unemployment Benefit Claims
Fast Company: How to protect your work-from-home computer from cyberattacks
CNBC: Germans aren’t shopping despite stores being open — experts explain why
April 24
The New York Times: House Passes Relief for Small Businesses and Aid for Hospitals and Testing
The Hill: Trump signs $484 billion coronavirus relief package
CNBC: Tech companies pull back on hiring, flashing another grim warning sign for the U.S. economy
Forbes: Taxpayer Advocate Announces New Tool To Assist With Claiming Stimulus Checks
Politico: Small business loans to restart Monday, Rubio says
Deadline COVID-19 Economic News: Coronavirus Kills “Unrecoverable” Los Angeles On-Location Production For 2020, FilmLA Says
CNBC: Some gig workers are getting $0 in unemployment benefits
The Hill: More than 6 percent of US mortgages in forbearance: analysis
April 23
The Hill: 5 things to know about the latest coronavirus relief bill
CNBC: New $310 billion in aid for small businesses is likely already used up, banks say
ABC News: 4.4 million more people file for unemployment in coronavirus crisis
Homelight: Should I Sell My House Now or Wait Until the Coronavirus Eases Up?
Fast Company: Here’s where all the SBA economic injury disaster loans and advances have gone so far
CNBC: Gap warns it might not have enough cash for operations, as it stops paying rent
MSN: The US economy has now erased all job gains since the Great Recession
April 22
Forbes: Ready. Set. Go. Small Businesses And The Race For Round 2 PPP Funds
The Hill: Five threats to US food supply chains
The New York Times: Pandemic’s Costs Stagger the Nursing Home Industry
CBS News: Minority-owned small businesses could see relief in $484 billion aid package
Forbes: 4 Business Trends Emerging From COVID-19
April 21
CNBC: Senate strikes deal on $484 billion relief package for small business, hospitals, testing
Bloomberg COVID-19 Economic News: Schumer Says SBA Loan Deal Reached; White House Says It’s Close
Politico: Banks warn that new small-business funding could evaporate in 2 days
April 20
Politico: Tax-refund delays mount as IRS struggles with snail mail amid shutdown
Vox: Getting unemployment has been a nightmare for millions of people across the country
The Hill: Bipartisan senators propose $500B rescue fund for states
CNBC: Burger chain Shake Shack to return $10 million government loan
The Washington Post: Coronavirus recession could plunge tens of millions into poverty, new report warns
Politico: Negotiators still fighting behind the scenes on latest relief package
The New York Times: Youth Sports Worry About Weathering Pandemic, and Future Play
April 19
MSN: Coronavirus stimulus checks: Where is the missing money going?
The Hill: House prepares to vote on coronavirus aid package as soon as Wednesday
Forbes: Proposal: Cancel Rent And Mortgages Due To Coronavirus
CNN Business: Experts say it may be time for grocery stores to ban customers from coming inside because of Covid-19
April 18
Bloomberg: Giant U.S. Lenders Outpaced by Rivals in Small-Business Rescue
CNBC: 24 Hour Fitness weighs bankruptcy as coronavirus pushes fitness industry to brink
The New York Times: Coronavirus Cases at D.C. Whole Foods Highlight Risks Facing Grocery Workers
Forbes: Six Numbers That Show How Hard The Travel Industry Is Being Hit By The Coronavirus Shutdown
April 17
CNBC: Coronavirus bill talks will go through the weekend after small business funds dry up, Schumer says
The Hill: Fresh produce goes to waste as coronavirus wrecks supply chains
Los Angeles Times: California food workers will get extra paid sick leave amid coronavirus crisis
New York Post: Big restaurant chains take $30M in coronavirus loans meant for small businesses
CNBC: Homebuilding just had its worst month since 1984. What traders see ahead for the group
The Hill: Millions wait for virus relief checks in major test for IRS
April 16
The Hill: Small business loan program runs out of funds amid debate over new bill
NBC News: Delays to coronavirus stimulus cash cause angst, confusion: ‘This is all just insane’
CNBC: Freelancers in the movie industry are particularly vulnerable as box office revenue plummets to zero
Fast Company: 7 ways of doing business by Zoom that are here to stay
Fortune: The IRS launched its ‘Get My Payment’ portal for tracking your stimulus check status
April 15
CNBC: 7.5 million small businesses are at risk of closing, report finds
Crunchbase: Layoff Data Report: Startups Under Fire Amid COVID-19 Pandemic
Politico: 11 surprising industries the coronavirus downturn is affecting
Los Angeles Times: 10 more businesses face charges for violating Garcetti’s coronavirus order to close
The Hill: Retail sales plunge 8.7 percent in March, biggest drop on record
April 14
The Hill: Food supply worries grow after outbreak closes Smithfield meat plant
Newsweek: When will the IRS ‘get my payment’ stimulus check app launch?
Politico: IMF predicts global contraction on par with Great Depression
Fortune: Are SBA small business loans running out? Here’s what we know so far
USA Today: Can these 10 retailers avoid permanent store closings amid coronavirus pandemic?
April 13
MSNBC: Newark introduces ‘Be Still Mondays’, asking essential businesses to shut down once a week
The Hill: Travel industry presses Congress for $600B boost to small-business loans
CNN Business: One of the largest pork processing facilities in the US is closing until further notice
Vox: Coronavirus stimulus checks are on the way — if you haven’t gotten one already
The Hill: Airline travel has dropped 96 percent amid coronavirus
April 12
Business Insider: Cruise ship bookings for 2021 are already on the rise despite multiple COVID-19 outbreaks
The Washington Post: ‘It feels like a war zone’: As more of them die, grocery workers increasingly fear showing up at work
The Hill: Arts, struggling to survive pandemic, face a longer road to recovery
Politico: Small business loan effort might be less generous than advertised
The New York Times: Fitness Instructors Flock Online to Pump You Up
April 11
The Hill: First coronavirus relief checks hit Americans’ bank accounts
CNBC: Fed’s Quarles says Main Street lending program should be running in 2 or 3 weeks
Fast Company: The architecture industry is getting slammed by COVID-19
CNBC: How restaurants plan to survive widespread layoffs from the coronavirus pandemic
Politico: Farmers left to jockey for bite of rescue funds
Vox: Many small businesses are being shut out of a new loan program by major banks
April 10 Covid-19 Economic News
The Hill: JPMorgan predicts 20 percent unemployment, 25 million job losses
Politico: Treasury expected to get started on stimulus payments Friday
Bloomberg Tax: IRS Not Processing Paper Returns, Urges Electronic Filing
Fast Company: More than 16 million people have lost their jobs in the last three weeks
TaxBuzz: Track Your Economic Impact Payment in the New IRS Portal
The Hill: Walmart CEO says company sold enough toilet paper in 5 days for every American to have a roll
April 9
Bloomberg: Missed Rent Payments Cascade Across the Real Estate Industry
Fast Company: Can fine dining survive COVID-19? Chef Daniel Humm of Eleven Madison Park isn’t so sure
MarketWatch: The CEO who built Cisco into a powerhouse has a sobering coronavirus diagnosis: At least nine months of economic pain
Politico: IRS temporarily shutters its last service center
The Hill: Senate blocks dueling coronavirus relief plans
Bloomberg: Millennials Are Getting Stung by Back-to-Back Global Crises
April 8
Fortune: The coronavirus might have upended the concept of the best companies of the year
Fast company: The COVID-19 economy is devastating for creative workers. Here’s how to navigate it
Washington Post: IRS to begin issuing $1,200 coronavirus payments April 9, but some Americans won’t receive checks until September, agency plan says
April 7 Covid-19 Economic News
Daily News: LA County giving $10,000 each to businesses as coronavirus hits bottom lines
Barrons: The Dow Is Soaring on Optimism About Covid-19. Travel Stocks Are Rising.
Industry week: Are You Compliant with COVID-19 Leave Laws?
Bloomberg: Pelosi Says Next Stimulus Round Will Be $1 Trillion or MoreApril 6
CBS News: Wells Fargo stops taking applications for Paycheck Protection Program loans
The Hill: Yellen: Unemployment already likely at 12-13 percent
The Wall Street Journal: Big Restaurant, Hotel Chains Won Exemption to Get Small Business Loans
MarketWatch: Retailers lost 46,200 jobs in March but could lose millions by May
The Hill: Bank of America sees $33B boom in coronavirus rescue loan applications
April 3
The Washington Post: Thousands flood banks as federal small-business loan program begins with bankers expressing worries
CNN: The coronavirus pandemic has been catastrophic for house cleaners and nannies
CNBC: Bank of America’s small business loan portal is up, making it the first major bank to begin program
NPR: U.S. Lost 701,000 Jobs In March; Much Worse To Come
The Hill: Poll: Almost one in four small businesses are two months or less away from closing permanently
Forbes: Coronavirus Business Tracker: How The Private Sector Is Fighting The COVID-19 Pandemic
The New York Times: Trump Administration Scales Back Paid Leave in Coronavirus Relief Law
April 2
NPR: A Dismal Record: Nearly 10 Million Filed For Unemployment In Last 2 Weeks
Entrepreneur: How to Obtain an SBA Coronavirus PPP Loan and Have It Forgiven
USA Today: Here are the companies mass hiring during the coronavirus pandemic
Fast Company: Unemployment benefits for gig workers and freelancers: Here’s what we know so far
Politico: Social Security recipients won’t need tax return to receive stimulus payment
Forbes: Nearly 700,000 Retail Workers Out Of Jobs So Far Because Of Coronavirus
The Hill: 7 industries lobbying for more stimulus
April 1 Covid-19 Economic News
The Hill: Trump calls on Congress to restore tax deductions for business meals, entertainment
Politico: Coronavirus hits the economy where it hurts: Consumer confidence
CountingWorks: Commercial Tenants: Dealing With COVID-19 Shutdowns and Your Lease Obligations
Fast Company: What is an ‘essential’ business anyway? A cheat sheet for getting through the COVID-19 pandemic
Politico: States overwhelmed by previously unimaginable layoff numbers
CNN: What will travel look like after coronavirus?
The Hill: Poll – 28 percent of Americans say they’ve already lost wages due to coronavirus
March 2020 Covid-19 Economic News
March 31
Fast Company: What is ‘force majeure’? The legal term you’ll be hearing a lot during the coronavirus crisis
Bloomberg: Goldman Sachs Sees 34% Plunge in U.S. GDP and 15% Unemployment
Barron’s: What the 1918 Flu Can Teach Us About Avoiding an Economic Meltdown
Los Angeles Times: Restaurants are pivoting to takeout and delivery. Will it be enough to survive?
Wodify Blog: Coronavirus/COVID-19: Guide for Gym Owners
Touch Bistro: Restaurant Marketing Ideas During Coronavirus
The Hill: Coronavirus poses new threat to mortgage industry
The Daily Beast: Do I Have to Pay My Rent or Mortgage During the Pandemic?
March 30
Fast Company: The coronavirus crisis is hitting childcare workers especially hard
CNBC: A food crisis looms as coronavirus forces farms to stay idle and countries hoard supplies
Forbes: Malls Survived The Retail Apocalypse, But Coronavirus Threatens To Be Their Armageddon
Bloomberg Businessweek: Boutique Fitness Studios Reduce to a Staff of One to Save Their Business
March 29
The Wall Street Journal: White House Extends Social-Distancing Guidelines Until End of April
Forbes: Beware Of Stimulus Check Scams And Related Hoaxes
The Hill: Trump floats restoring full corporate tax deduction for meals as coronavirus derails restaurants
Politico: Cannabis finds its moment amid coronavirus outbreak
Forbes: Zero Contact Everything: Coronavirus Causes The Rapid Rise Of ‘No Touch’ Retail
March 28
The New York Times: David Chang isn’t sure the restaurant industry will survive Covid-19
Forbes: IRS Continues To Limit Operations Due To Coronavirus Crisis, But Will Still Issue Tax Refunds
CNBC: New Yorkers have until July 15 to file state tax returns, Cuomo confirms
Fox Business: Coronavirus stimulus checks: Should you wait to file your 2019 tax returns?
Forbes: How To Maximize Your Coronavirus Stimulus Check
March 27
The Hill: House passes $2 trillion coronavirus relief bill, with Trump to sign quickly
The Wall Street Journal: How the Coronavirus Paid Leave Rules Apply to You
Politico: House to pass $2 trillion coronavirus package — but not without last-minute drama
The Wall Street Journal: Construction Companies Lobby to Keep Working as Coronavirus Spreads
Fast Company: An official World Health Organization COVID-19 app is coming soon
March 26
Forbes: What To Do About Your Student Loans During The Coronavirus (COVID-19) Crisis
The Wall Street Journal: Small Businesses in Limbo as They Await Coronavirus Assistance for Them
Politico: More questions and answers about the coronavirus checks
Fast Company: Applying for a small business disaster loan? What to know about the COVID-19 stimulus package
Forbes: When You File Your 2019 Tax Return Will Impact Your Stimulus Payment
Tax Foundation: Tracking State Legislative Responses to COVID-19
Forbes: How Will The Coronavirus Bill’s Individual Tax Payments Work?
March 25 Covid-19 Economic News
The Hill: White House, Senate reach deal on $2 trillion stimulus package
Politico: Here’s what’s in the $2 trillion stimulus package — and what’s next
Fast Company: Coronavirus stimulus checks: What we know so far
The Hill: New York Governor Cuomo: ‘Numbers don’t work’ in ‘terrible’ Senate stimulus package
Fast Company: What to do if you’re laid off during COVID-19: Start with these unemployment resources
