The spread of the novel coronavirus presents serious concerns and challenges for many around the world. To help, below we’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos from the Journal of Accountancy. You can also read the latest news on advocacy and tax relief, the CARES Act, and the Paycheck Protection Program.
The Association, the global voice of the American Institute of CPAs and the Chartered Institute of Management Accountants, is continually monitoring the impact of the coronavirus (COVID-19) on members, staff, exam candidates, students, and the profession. Visit this page on AICPA.org for updates and details about where to find the information you need.
COVID-19 news and resources
The IRS describes how employers may avoid failure-to-pay and failure-to-deposit penalties for ERC claimed or anticipated in the fourth quarter but eliminated by the Infrastructure Act.
The IRS provides guidelines to employers for showing these wages on Form W-2.
Lumber prices skyrocketed as a result of the pandemic. One homebuilder’s CFO explains how the company navigated those tough and unpredictable waters.
The US SBA provided updated guidance Friday on various COVID-19 Economic Injury Disaster Loan program application deadlines.
Forgiveness amounts are excluded from gross income but included in gross receipts for purposes including determining “small business taxpayer” status under Sec. 448(c).
Balancing business goals with employee experience can provide the best path forward as hybrid working becomes commonplace.
With millions of jobs vacant, company leaders are being tested. Here are some ways smaller businesses are coping with multiple openings and trying to recruit new talent.
A revenue procedure clarifies Homeowner Assistance Fund payments are excluded from gross income and gives a safe harbor for computing certain itemized deductions.
Majority owners' wages for the employee retention credit are among issues addressed.
The IRS issued a safe harbor that allows an employer to exclude certain amounts received from other coronavirus economic relief programs in determining whether it qualifies for the employee retention credit based on a decline in gross receipts