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
ERC claims on returns prepared by others raise questions for tax pros
The IRS Office of Professional Responsibility issued a bulletin that reviews the Circular 230 professional responsibilities that apply to claims for the employee retention credit.
In-person IRS tax forums scheduled for first time since pandemic start
The three-day forums, last held in person in 2019, are designed specifically for CPAs and other tax professionals.
Lookback period extended for refunds related to pandemic postponements
In determining the beginning of the lookback period for refund claims for returns with due dates postponed by Notice 2021-21 or Notice 2020-23, the IRS will disregard the periods from April 15, 2020, to July 15, 2020, and from April 15, 2021, to May 17, 2021. This change will align the lookback periods with the postponed return filing due dates.
IRS seeks information on 21 states regarding special payments, refunds
The national taxpayer advocate criticized the IRS for delaying the release of guidance on state special tax payments or refunds made in 2022 that she said could affect tens of millions of taxpayers.
Innovative CPA firm leader: ‘We never had a fear of trying’
The co-founder of a leading CPA firm explains why Monday is his favorite day of the week, how his firm got out of the “rat race” of hourly billing, and how it has adapted after a merger in this podcast episode with transcript.
How COVID-19 changed the way we teach
The COVID-19 pandemic forced colleges and universities to embrace the digital age. Accounting faculty members reflect on adapting to the changes, both positive and negative.
Hopes for 2023: Addressing change fatigue, making creative connections
A leader in the accounting profession shares hopes for the new year, discusses what’s next for remote work, and explains why change fatigue should be addressed.
Future of Finance takeaways: Hopes for the workforce in 2023
A keynote speaker at two recent AICPA & CIMA conferences shares her talent development-related hopes for 2023 in this podcast episode with transcript.
Congressional report criticizes contractor used by IRS during pandemic
The statement says ID.me inflated the amount of work it could provide and the amount of federal dollars lost to pandemic fraud, the latter in an effort to increase demand for its services. In his response, the CEO says he would not use such a crisis to help his company.
One deadline approaches for over 9 million eligible for pandemic-era benefits
In October, the IRS said it would leave Free File open for an extra month, until Thursday, so eligible taxpayers can claim their share of several benefits including the 2021 recovery rebate credit, the child tax credit, and the earned income tax credit.