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 clarifies COVID-19 EIDL application deadlines
The US SBA provided updated guidance Friday on various COVID-19 Economic Injury Disaster Loan program application deadlines.
Further guidance issued on tax treatment of PPP loan forgiveness
Forgiveness amounts are excluded from gross income but included in gross receipts for purposes including determining “small business taxpayer” status under Sec. 448(c).
Rethinking real estate: The benefits of workforce segmentation
Balancing business goals with employee experience can provide the best path forward as hybrid working becomes commonplace.
Companies embrace unusual new strategies to survive a labor crunch
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.
Tax treatment of COVID-19 homeowner relief payments clarified
A revenue procedure clarifies Homeowner Assistance Fund payments are excluded from gross income and gives a safe harbor for computing certain itemized deductions.
IRS issues ERC guidance for second half of 2021
Majority owners' wages for the employee retention credit are among issues addressed.
Safe harbor for ERC gross-receipts test
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
What organizations need to know about unemployment fraud
Employers should be alert for fake claims amid a boom in fraudulent schemes.
Power naps from home: Are Zzzzs on the clock OK?
Here are some ways to squeeze in a refreshing catnap without risking your boss’s ire.
4 tips for telling your boss you don’t want to return to the office
To ensure that discussion goes as smoothly as possible, aim to tailor your approach to your manager, focus on the positive, and remain open to creative compromise.