Keeping you informed and prepared amid the coronavirus crisis
Updated daily
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.
The IRS granted relief for a broad array of tax filing and payment deadlines that fall between April 1 and July 15, expanding on previous relief, as requested by the AICPA.
With the COVID-19 pandemic causing unprecedented economic turmoil, small businesses need financial guidance and expertise more than ever before. CPAs and firms can provide that assistance by following a five-step process.
To allow those partnerships to take advantage of the beneficial tax provisions in the Coronavirus Aid, Relief, and Economic Security Act, the IRS is allowing partnerships to file amended returns for 2018 or 2019.
Responding to travel, mailing and other issues caused by the COVID-19 pandemic, the SEC has published updated staff guidance on shareholder meetings for companies and other issuers of public stock.
Accounting challenges related to the coronavirus pandemic have resulted in numerous questions for FASB from financial statement preparers and practitioners. Shayne Kuhaneck, FASB’s acting technical director, answered some of these questions during the board’s meeting.
The delays would apply to the effective date of its revenue recognition standard for nonpublic franchisors and the effective dates of its lease accounting standard for private companies and public and private not-for-profits.
The AICPA has published a new report providing nonauthoritative guidance on frequently asked accounting and auditing questions related to the coronavirus pandemic.
Federal regulators encouraged financial institutions to work constructively with borrowers affected by the coronavirus pandemic. The statement also provided additional information regarding loan modifications.
The AICPA posted FAQs explaining the latest developments in taxpayer relief during the COVID-19 pandemic. The AICPA has recommended that the IRS and Treasury Department expand the scope of recently announced taxpayer relief.
