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
SBA stops accepting new PPP applications from most lenders as general funds run out
The SBA has informed lenders that it is no longer accepting new applications from most lenders for the Paycheck Protection Program because the $292 billion program’s general fund is nearly exhausted.
4 reopening mistakes employers must avoid
As firm leaders prepare for a post-pandemic work world, they should take care to plot a path that steers clear of potential pitfalls — four of which are explored in this article.
Weighing a move if your job has gone remote
Here are a few things remote-working finance professionals should consider when thinking of moving.
American Rescue Plan Act enacts many tax provisions
Here’s a look at changes affecting 2020 and 2021 that were included in Congress’s stimulus legislation.
The board’s role in not-for-profits’ post-pandemic success
Not-for-profits have experienced huge challenges during the coronavirus pandemic. Careful oversight of policies related to people, cash flow, and fraud can smooth the path to long-term sustainability for the mission.
Registration opens for Restaurant Revitalization Fund
Registration for the Restaurant Revitalization Fund (RRF) will begin at 9 a.m. ET on Friday, April 30, and the SBA will begin accepting applications on Monday, May 3, at noon ET.
Financial fears spike for young adults amid pandemic
More than half of Americans said their financial situation caused them stress during the pandemic, according to an AICPA survey. Younger Americans were particularly affected, with three-quarters of 18- to 24-year-olds reporting financial anxiety.
2021 child tax credit, EITC, and premium tax credit limits updated
The IRS issued guidance on the amount of and limitations on the child tax credit, earned income tax credit, and premium tax credit available for taxpayers for the 2021 tax year as a result of changes to those provisions enacted by the American Rescue Plan Act of 2021, P.L. 117-2.
Shuttered Venue Operators Grant portal begins accepting applications
The Shuttered Venue Operators Grant (SVOG) program officially opened Monday, with venue operators reporting successful uploads of applications for funding from the $16.25 billion program.
The pandemic pushed us forward. Let’s keep evolving
This article discusses how CPAs should plan for and expect significant organic growth based on the transformation that occurred due to the pandemic.