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
Why agility is key for firms navigating COVID-19
The current circumstances force firms — and their clients — to deal with several challenges at the same time.
What’s your fraud IQ?
How prepared are you to deal with coronavirus-related fraud?
4 key COVID-19 audit risks for 2020 year ends
The coronavirus pandemic has created special challenges for practitioners to consider related to internal control, fraud, NOCLAR, and accounting estimates.
Talking through adversity
Hope is one of the most valuable services a CPA can provide during challenging times.
PPP and pandemic-related tips for not-for-profits
Not-for-profits face challenges related to funding, operations and strategy as a result of the coronavirus pandemic. These tips can help resolve issues related to the PPP, accounting and other topics.
IRS to allow faxing of automatic method change requests
The IRS announced that, beginning Friday, in response to the coronavirus pandemic, it is temporarily accepting duplicate copies of Form 3115, Application for Change in Accounting Method, sent by fax instead of mail.
IRS issues business interest expense limitation guidance
The IRS issued a package of related guidance on the business interest expense limitation enacted in the law known as the Tax Cuts and Jobs Act and amended by the CARES Act.
Guidance on recapture of excess employment tax credits
The IRS issued temporary and proposed regulations on how it will recapture excess credits taken by employers under recent coronavirus relief legislation.
Why Zoom meetings really do leave you exhausted
Videoconferencing fatigue is just one of several types of technostress that have been plaguing workers since personal computers hit it big. The problem has grown worse due to the COVID-19 lockdowns, but Marc Staut of Boomer Consulting offers some remedies.
PPP forgiveness: No need to rush, and other tips
Borrowers and their CPA advisers may be eager to move ahead with the Paycheck Protection Program forgiveness process, but there are still many unsettled issues to consider.