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 provided for penalty relief under Sec. 6656 for an employer’s failure to timely deposit certain employment taxes with the IRS to allow employers to immediately take advantage of various credits enacted in response to the COVID-19 pandemic.
Some accounting firms prepared for the 2021 busy season by staffing up and offering more flexible work options for employees dealing with family issues during the pandemic.
Individuals who are proactive about their professional development and excel at communication and other soft skills have the best chance of promotion in a remote-working environment.
Companies should consider benefits and challenges of hiring workers outside their geographic area.
The AICPA has released some recommendations for practitioners concerning various issues that have arisen due to the postponement of the April 15 tax deadline for individuals.
The SBA opened its new application portal for the $16.25 billion Shuttered Venue Operators Grant (SVOG) program, but shut it down for repairs due to “technical difficulties” that prevented the platform from accepting applications.
The IRS issued guidance on the temporary rule that allows a 100% deduction for eligible restaurant meals in 2021 and 2022.
Rep. Lloyd Smucker, R.-Pa., announced he will introduce a bill that pushes back the due date for first-quarter 2021 estimated tax payments from April 15, 2021, to May 17, 2021. The AICPA expressed its support for the bill.
Hear advice for not-for-profits related to tax and PPP applications, along with why one pioneering CPA’s own role model was her sister.
The effects of the coronavirus pandemic on companies’ financial reporting will be a focus of the PCAOB’s inspections in 2021. The board also will strive to become less predictable in the audits and subject areas reviewed by inspectors.