Links for Governmental Income Sources during COVID – 19 Pandemic

Pandemic Lifeline

Check here to find a comprehensive list of governmental sources for financial help during the COVID-19 pandemic. It will be updated as new and/or changed information becomes available. If you see something new, please let us know so that we can post it here.


  1. The SAVE THE SMALL BUSINESS FUND led by the U.S. Chamber of Commerce Foundation

In partnership with Vistaprint and a coalition of supporting companies, foundations, and philanthropic donors, the US Chamber will be providing $5,000 grants for small businesses across the United States and its territories to provide relief from the financial impacts of the coronavirus pandemic. Please note that 501(c)(3) organizations are not eligible.

Applications will be accepted beginning April 20, 2020 at

Please use this website for any questions you may have regarding this grant.

       2. Link to STATUS ON YOUR STIMULUS CHECK from the government

You will need your 2019 or 2018 income tax returns and if you haven’t done your 2018, you will need to submit your 2019 tax return

  1. UNEMPLOYMENT for Self-employed: changing daily continue to check for updates

PUA Guidelines: Two qualifying reasons to receive unemployment:

“The individual was scheduled to commence employment and does not have a job . . .  as a direct result of the COVID-19 public health emergency; ” and

“The individual’s place of employment is closed as a direct result of the COVID-19 public health emergency. “

          Maryland – system not ready yet but….

Use this link to add your email as a self-employed individual and they will contact you when the system can accept self-employed claims.

MD –


04/15/20 – In Virginia, at least right now, you have to apply for unemployment as it regularly is administered. If you are self-employed, you will get denied.  That is the first step so that you will qualify for the pandemic assistance. They will then notify you when they have a system that can accept self-employed individuals.

And if you have filed for unemployment, be sure to do your weekly claims.  You won’t receive checks for weeks you didn’t do a claim…although you do not need to list work searches at this time. Also, if you do the phone version of filing your weekly claim, you won’t currently be asked about your work searches.  The web version still asks for this information.  Although the PUA checks haven’t been sent out yet, they are retroactive.

District of Columbia

Will start taking self-employed worker applications on April 28th.

  • To receive a notification once the new application is available, please send an email to and they will contact you.”

If you live in DC and are self-employed or a contractor, please go to this website to read information about how/when to apply for unemployment insurance (UI) benefits:

It says that the UI website has not yet been reconfigured to allow self-employed and contractors to apply without encountering questions that no longer need to be answered, such as questions about what jobs you applied for in the past week.

“Work Search Requirement: Effective March 15, 2020, the Work Search requirement in the District of Columbia has been temporarily suspended for all claimants.

“Pandemic Unemployment Assistance (PUA)

  • PUA is effective January 27, 2020 through December 31, 2020.
  • Individuals who are typically ineligible for regular UI (i.e. independent contractors, gig workers, those with insufficient work history) that cannot work due to COVID-19 are eligible for a maximum of 39 weeks of benefits, which includes $600 Federal Pandemic Unemployment Compensation (FPUC).
  • Our system is currently not updated to enable processing of PUA related applicants, as they were formerly considered ineligible. If you have already attempted to submit an application it will initially be denied. PLEASE BE PATIENT. You will have an opportunity to resubmit an application soon.
  • If you have not submitted an application and are self-employed, an independent contractor, gig worker, have an insufficient work history, and/or you believe you may now be eligible, we encourage you to submit an application upon completion of our system modifications. To receive a notification once the new application is available, please send an email to and we will contact you.”


  1. Federal – SBA loan application with an opportunity for a $10,000 grant****UPDATE: FUNDS HAVE RUN OUT****

Customer service line – 800.659.2955

easy to fill out; no deadline but closed when the money runs out;

it may have run out by this time but will most likely get another funding.


5. PPP – Payroll Protection Plan ****UPDATE – FUNDS HAVE RUN OUT****

Have to apply through a bank – find out online which ones are participating. If your bank is one of them, go there. Applies to self-employed; contractors, sole proprietors as well as LLCs and other businesses

An experience of a self-employed consultant to date:  I applied for the PPP SBA loan through Presidential Bank which was one of the national banks on the list of banks accepting applications.  I also applied on Kabbage which is an online bank I think that was on the list. The Kabbage app was easy.  I had to upload my drivers license, Schedule C and a bank statement showing my income and expenses but the Presidential Bank asked me for the following.  I am just a sole proprietor, not incorporated or an LLC or anything.  I don’t know if Kabbage will come back to me and ask for these documents as well or if it is up to each Bank to decide what documentation they need.

Required Application Documents for Presidents Bank:

  • Your own internal documentation of monthly “payroll” over a running 12-month period ending at December 31, 2019, or at a month-end during 2020. The more of these expenses you can substantiate, the larger will be the loan amount you qualify for. These documents may include:
    • A month-by-month register of total wages and salaries paid over the 12-month period
    • A month-by-month record or estimate of tips received by employees over the 12-month period, if applicable
    • An optional itemization of monthly health care and health insurance cost over the 12-month period to be included in “payroll” expense
    • An optional itemization of monthly employer pension or retirement contributions over the 12-month period to be included in “payroll” expense
  • Documentation of your business’s legal existence, such as:
    • Articles of Corporation
    • Articles of LLC Formation or Operating Agreement
    • Partnership Agreement
    • Local d/b/a Registration
    • IRS Determination Letter, for non-profits
    • Website URL
  • SBA Form 2483 Loan Application, completed and signed
  • If NOT an existing Presidential Bank customer with either a deposit account or loan, provide completed the following Anti-Money Laundering documents:
    • IRS Form W-9
    • Presidential Bank Beneficial Owner Identity Verification
    • Presidential Bank Certificate of Beneficial Owners Of Legal Entity Customers
    • Copy of Driver’s License for all 20% or more business owners


         6. Distributions from Retirement accounts for COVID-19 financial hardship

RSD Financial, LLC

Roger S. Desai, AIF®, LUTCF, CFE®
Investment Advisor Representative

CARES Act – Relief for Retirement Account Owners

Security (CARES) Act was signed into law. Notably, several provisions of the CARES Act deal with retirement accounts and offer relief to retirement account owners and/or beneficiaries in a variety of ways. We’ll answer some top-of-mind questions you may have about this aspect of the new law, as well as provide an understanding of Coronavirus-Related Distributions and how they could impact you.

Can I take money out of my IRA or company retirement plan to help me offset

expenses resulting from the COVID-19 pandemic? If I do, are there penalties and

is the distribution taxable?

Broadly speaking, if you, your spouse or a dependent has been diagnosed with COVID-19, or if you experience adverse financial consequences as a result of the coronavirus, you may qualify to take a Coronavirus-Related Distribution. Such distributions come with a variety of benefits, including: • There is no 10% penalty for distributions for those under age 59½. • Employer-sponsored retirement plans do not have to withhold 20% federal income tax. • The distribution can be rolled over (repaid) to an IRA or company retirement plan for three years from the date the distribution was taken, eliminating the income tax bill that would otherwise apply. • By default, the income from the distributions will be split evenly over 2020, 2021 and 2022.


If I repay my IRA or company retirement plan within the three-year window

described above, how do I get the taxes back that I’ve already paid on that


You’d need to file amended returns to claim a refund for any years in which the

distribution had previously been included in your income. For example, if you take a

distribution now and opt to spread the income over three years, and then repay it in

November 2022, you would need to file an amended return for 2020 and 2021 (because

tax returns for those years already will have been filed).

I would rather report the income from the distribution in 2020 alone instead of

spreading it over the next three years because my income is going to be down this year

due to the coronavirus. Is that allowed?

Yes, you are allowed to make an election to include the entire Coronavirus-Related Distribution in 2020 rather than splitting the income over three years (which may not be a bad idea if your income is significantly lower this year as a result of the COVID-19 crisis, or some other reason).

Can I just take a loan from my company retirement account rather than taking a

taxable distribution?

As long as your company retirement plan includes a loan provision (plans are not required to have one), then yes! What’s more, the rules for such loans also have been relaxed. More specifically: • The maximum potential plan loan is increased from $50,000 to $100,000. • A loan may be taken for up to 100% of your vested balance (up to the $100,000 maximum). • Loan payments that would otherwise be due from March 27 through the end of 2020 are delayed for one year. An important note here is that this does NOT apply to IRAs, as loans from

IRAs are prohibited.

I heard that Required Minimum Distributions (RMDs) are not required this year.

Is that true?

That’s correct. 2020 RMDs from any type of IRA, 401(k), 403(b) or 457(b) plan are suspended for 2020.

What if I already took some of or all my 2020 RMD? Can I somehow put it back?

If the distribution was received within the last 60 days, you are allowed to write a check or otherwise transfer it back to the IRA custodian. However, if the distribution came from an IRA, and will be going back to an IRA, you cannot have completed a similar 60-day IRA-to-IRA or Roth IRA-to-Roth IRA rollover within the past year (365 days).

I took my 2020 RMD in January and 60 days already have passed. Am I out of luck?

Maybe not. If you can demonstrate that you are eligible for a Coronavirus-Related Distribution,

you would qualify to repay the distribution anytime within three years of the date the distribution was received.

That sounds great but how do I put back the taxes that were withheld from my distribution?

If you had taxes withheld on your RMD, and you only roll the net amount after taxes back into your IRA, then the amount of tax withheld will be taxable on your 2020 tax return. As an alternative, if you can roll the amount of taxes withheld back into the IRA from another investment or bank account, that will prevent any taxation of your RMD in 2020 because the entire amount will have been rolled back.

Are RMDs suspended for beneficiaries as well for 2020? Yes!

Are the rules any different for beneficiaries of inherited IRAs? If you have already taken your RMD from an inherited IRA, you cannot roll it back as described above, whether it was made within the last 60 days or not. If you have not taken your 2020 RMD, then as noted above, you are eligible to suspend your distribution for 2020.

The Treasury Department will likely provide clarification on many of these rules in the coming days/weeks.

Securities offered through Securities America, Inc., A Registered Broker/Dealer, Member FINRA/SIPC.

Neither Forefield Inc. nor Forefield AdvisorTM provides legal, taxation or investment advice.

All the content provided by Forefield is protected by copyright. Forefield claims no liability for any

modifications to its content and/or information provided by other sources.

This communication is strictly intended for individuals residing in the state(s) of MD and VA. No offers

may be made or accepted from any resident outside the specific states referenced.



  1. Red Backpack Fund (check criteria – it won’t apply to most people):

The Red Backpack Fund founded by Blake Lively, CEO of Spanx, will begin accepting grant applications of up to $5,000 this afternoon for 1,000 women entrepreneurs that have been affected by COVID-19.


  • You are at least 51% majority-women owned
  • You have withheld payroll taxes for at least one employee in addition to yourself (unfortunately, we are unable to accept applications from sole proprietors or individuals who exclusively employ contractors at this time)
  • You are registered as a legal entity and have a valid EIN number
  • You have fewer than 50 employees
  • Your annual revenues did not exceed $5M in any of the past three years

—————Not a federal program but something you might want to try—————————-

  1. Gift Certificate Email Sample (see blog below):


scroll down to Emergency Cash Plan for Massage Therapists in Crisis

  1. Negotiate with the services that you have:
    • Sheet service – one person couldn’t cancel but negotiated $1/month
    • Rent – talk with your landlord (people have been able to negotiate reductions up to not having to pay)
    • Utilities
    • Other ideas