Expertise Beyond the Numbers

Guide to Virginia’s COVID-19 Individual and Corporate Relief Programs

Updated on 3/25/2020 at 4:15pm.

As the Coronavirus continues to impact the global economy, numerous steps have been taken across the Commonwealth of Virginia to provide needed relief to citizens and businesses. Here are some of programs available to assist Virginians during this crisis.

Sales Tax Filing and Payment Extension & Penalty Waiver

Businesses impacted by coronavirus can request an extension of the due date for filing and payment of their February 2020 sales tax return due March 20, 2020, for 30 days. When granted, businesses will be able to file and pay no later than April 20, 2020 with a waiver of any penalties. For more information, see Virginia Tax Bulletin 20-3: Option to Request Extension of Sales Tax Deadlines for those Affected by the COVID-19 Crisis.

Income Tax Payment Extension & Penalty Waiver 

Any income tax payments due during the time period of April 1, 2020, to June 1, 2020, will now be due on June 1, 2020. This includes individual and corporate income taxes paid to Virginia Tax. All income tax filing deadlines remain the same, including the May 1, 2020 individual income tax filing due date.

Late payment penalties will not be charged if payments are made by June 1, 2020. However, interest will still accrue, so if you can pay by the original filing due date, you should. For more information, see Virginia Tax Bulletin 20-4: Income Tax Payment Extension and Penalty Waiver in Response to the COVID-19 Crisis.

SBA Loans

Virginia received a statewide Economic Injury Disaster Loan declaration from the U.S. Small Business Administration (SBA). Small businesses and non-profit organizations located throughout the state can now apply for a loan of up to $2 million from the SBA to pay fixed debts, payroll, accounts payable, and other expenses.

Central Virginia COVID-19 Response Fund

There are $3M in funds available to support not-for-profit organizations in Central Virginia. Applicants simply need to contact the Community Foundation in Richmond by completing a brief questionnaire here: https://docs.google.com/forms/d/e/1FAIpQLSf9AG6mLOl89Eb2o8I_tUaJCWJ-q8WxTtsYr3YDYzUqEFDrqQ/viewform.

Additional information can be found here: https://www.cfrichmond.org/Leadership-Impact/Central-Virginia-COVID-19-Response-Fund

WIOA Rapid Response Grants

The Workforce Innovation and Opportunity Act (WIOA) Rapid Response provides grant funding up to $25,000 to help certain Northern Virginia employers to remain open during the COVID-19 crisis.  These funds are intended to assist local employers to clean facilities, avert layoffs and support other operational needs. To be eligible:

  1. Businesses must be located in the counties of Fairfax, Loudoun, or Prince William, or located in the cities of Fairfax, Falls Church, Manassas, or Manassas Park, AND
  2. Have 250 or fewer employees, AND
  3. Be current on all Virginia tax obligations

To apply:

  1. Fill out the COVID-19 Rapid Response funding application and budget spreadsheet.
  2. Submit your completed application to Seema Jain, VP of Operations, at jain@vcwnorthern.com.

More info here: https://vcwnorthern.com/covid19-rapid-response/

Emergency Layoff Aversion Assistance Program

The Alexandria/Arlington Regional Workforce Council, under the WIOA, is offering 11 reimbursable grants up to $7,500 per business to help them remain open and avert layoffs. Grants will be awarded to the applicants who can save the largest number of jobs. Eligible employers must be located in Alexandria City or Arlington county, and have 250 employees or fewer. Additional details and the application can be found here: https://workforcecouncil.arlingtonva.us/covid19/. The application due date is this Friday, March 27, 2020 at 5pm EST.

Virginia Unemployment Benefits

The Virginia Employment Commission has removed the one-week waiting period for filing unemployment claims. This should result in faster payments to individuals who have been laid off or underemployed, resulting in faster payment for initial claims.

NVCCEF Student Grants

The Northern Virginia Community College Educational Foundation is providing emergency student aid to assists students impacted by COVID-19. Grants are $500 per student. Students can apply here: https://www.nvcc.edu/news/press-releases/2020/covid19-emergency-student-aid.html

Vehicle Safety Inspection Relief

Virginia State Police will stop enforcing vehicle inspections for 60 days.

Additional assistance may currently available to individuals and businesses at the local level. Check the city or county website for their specific response.

As this crisis plays out, expect to see additional aid coming from Virginia and its localities. We will keep you up updated as those measures emerge. In the meantime, feel free to contact us regarding your specific circumstances or any questions you may have. We are here to help.