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Millions of small businesses are fighting off permanent closures, looking for every possible penny to help them stay afloat amid the pandemic. However, there is a little-known CARES Act rule that could net small businesses tens of thousands of dollars in just a few weeks, and it helps keep more people employed.Back in March, when Congress passed the CARES Act, most of the focus for businesses was on the billions of dollars allotted for Paycheck Protection Program (PPP) forgivable loans. Congress also included a temporary tax rule, at the same time, for businesses.“If you had a loss in 2018, 2019, or 2020, any of those years, you could carry it back up to five years to generate refunds,” said Chris Catarino, a CPA with the firm Drucker & Scaccetti in Philadelphia.Catarino explained that under the new rule, businesses can generate a tax refund by applying 2020 losses to taxes paid over the past five years, essentially making the tax burden in past years less, netting them the refund.Losses for 2020, though, can only be filed after Dec 31, 2020. However, the temporary rule also applies to 2019 and 2018. So, if a business had losses over those two years, they could carry back those losses to their respective five-year period and possibly generate a refund.Businesses can start filing for a refund on 2018 and 2019 losses now. Catarino explained they would have to file an amended return or 1045 form.“The 1045 is generally quicker,” said Catarino “The IRS is required to respond and process those within 90 days.”The tax refund, under the temporary net operating loss rule, could mean tens of thousands of much-needed dollars for some businesses. However, Catarino pointed out that the biggest refunds would be for businesses with the largest “swing” from the prior years.For example, take a business that did extremely well in 2019. It likely paid a high tax bill that year. Then, this year, it had a significant loss of business. That business could get most of the money it paid in taxes the year prior, possibly even all the money it paid but nothing more than was paid in taxes. The same principle applies to 2018 and 2019.“The idea that they could recoup some taxes that they already paid in the past, today, could really be significant,” said Todd McCracken with the National Small Business Association. “It could mean the difference between keeping your doors open or not.”Although the temporary tax benefit could save some businesses, there is concern that the businesses that may need it the most may not be aware of it.“It is the smallest companies that don’t know, that tend to deal with their taxes once a year,” said McCracken. "They don’t have an ongoing relationship with a CPA. They go have their taxes prepared in the spring and find out, ‘Wow, I could’ve had this benefit all along.’ Next spring, of course, could be too late.”It could be too late for many businesses, especially if another round of coronavirus-related closures occurs and a second stimulus package isn’t passed soon. 3031

National Rifle Association board member and classic rocker Ted Nugent slammed survivors of the Parkland, Florida, school shooting, calling them "liars" and "poor, mushy-brained children."Nugent made the comments during an interview on "The Joe Pags Show," a nationally syndicated conservative radio program."All you have to do now is not only feel sorry for the liars, but you have to go against them and pray to God that the lies can be crushed and the liars can be silenced so that real measures can be put into place to actually save children's lives," Nugent said about the Marjory Stoneman Douglas High School students."These poor children, I'm afraid to say this and it hurts me to say this, but the evidence is irrefutable, they have no soul," he added. 768

National restaurant chain Chili's announced this weekend that customers at some locations may have had their credit or debit card information taken in a breach of the company's data. Chili's said it learned of the incident on Friday, and said it believes the data breach impacted customers who used debit or credit cards in stores during March and April. Chili's said it is just beginning an investigation into what happened, and is working with law enforcement. The incident did not affect all Chili's customers, and Chili's is using a third-party expert to determine which customers were affected. In the meantime, Chili's recommends checking bank statements and report suspicious activity to the bank. Chili's also recommends checking your credit report.For more information, click here.  829

MYAKKA CITY, Fla. — Twenty-four hours after Mother's Day, a picture Crystal Ingramm took is still hard to digest."I was sad more than anything else," Ingramm said.The mom was driving with her family to a celebratory breakfast. Suddenly, her husband pulled over when he spotted something strange near the forest preserve off Wachula and Taylor roads in Myakka City, Florida."He said, 'I think I saw an alligator on the side of the road,'" Ingramm said. "We thought it was caught in a barbed wire fence. When we got close we realized there were two of them and they were already dead, and their tails had been cut off."Growing up in the small Myakka City community and used to seeing alligators, Ingramm said she immediately knew this was no accident."This was done for only one possible purpose, and they were discarded here," Ingramm said.That's why she said she took the picture and posted it to a community page to let others know about the possible crime. The photo was shared, prompting people like Julie Morris to drive by the preserve."We need to find out who's doing it and make sure that this does not continue to happen," Morris said.That's also why Ingramm said she shared the photo with FWC, the state agency that oversees wildlife concerns."I know alligators are hunted, but there is a lawful and responsible way to do that. You don't obviously just cut their tails and leave all their body parts. This was not an act of hunting, this was something else," Ingramm said.FWC allows alligator hunting in a very limited capacity.The season doesn't start until August. There are also specific rules on how to trap alligators, and cruelty is not an option.It's why officers are taking this seriously. A spokesperson said it's too early to speculate, but if there is a sinister motive, there are repercussions. Ingramm said she just hopes she can get the image out of her mind."To see them mutilated like that is shocking," she said. 2051

More than 80 people were arrested after a third night of demonstrations in St. Louis over the acquittal of a former police officer who had been charged with first-degree murder.Arrests came after police officers were assaulted and "a concentrated area" was hit with vandalism including broken windows, broken sidewalk flower pots and overturned trash cans, acting Police Commissioner Larry O'Toole told media at a briefing late Sunday."Some criminals assaulted law enforcement officers and threw chemicals and rocks at them. All of the officers' injuries were minor or moderate. All will be returned to duty soon," O'Toole said. 636