The COVID-19 crisis has caused pain, loss and overwhelming gloom. It also is leading to lasting change in the workplace, which may be fundamentally different in many ways after the crisis ends.
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PCAOB seeks feedback on critical audit matters requirement
The PCAOB is requesting input to inform its analysis of its new critical audit matters requirements.
SBA stops accepting PPP applications after funding runs out
The U.S. Small Business Administration stopped accepting applications for the Paycheck Protection Program after exhausting the initial $349 billion in funding provided by Congress to fund forgivable loans to small businesses impacted by the COVID-19 pandemic.
SSI recipients to receive stimulus payments; dependent payments require extra step
The IRS announce that Supplemental Security Income (SSI) recipients will receive automatic stimulus payments, but some taxpayers need to enter information about qualifying children.
Pandemic alters lease accounting landscape
The coronavirus pandemic has led to a likely delay in the effective date of FASB’s new lease accounting standard as well as an environment in which lease concessions may lead to new accounting considerations.
GASB proposes postponing effective dates due to pandemic
GASB issued a proposal that would postpone by one year the effective dates of most GASB statements and implementation guides due to be implemented for fiscal years 2019 and later.
PTIN fee will be lower when it is reinstated
The IRS has proposed to lower the fee it charges for preparer tax identification numbers (PTINs) when PTIN fees are reinstated.
IRS launches website for tracking stimulus payments
The IRS announced the launch of its “Get My Payment” website, which is designed to permit people who filed tax returns to enter their direct deposit information and check the status of their $1,200 stimulus payment.
SBA publishes new PPP guidance for the self-employed and general partners
The US Small Business Administration issued guidance for independent contractors, sole proprietors and others with self-employment income to apply for forgivable loans under the $349 billion Paycheck Protection Program.
Tips for auditing with changed controls during the pandemic
Because business volume and activities have changed significantly for many clients, auditors face new challenges related to auditing with changes in internal control. Here’s how practitioners can adjust to the changes and deliver a high-quality audit.
Key facts about the Fed’s $2.3 trillion loan initiative
CPAs should pay careful attention to the new $600 billion Main Street Lending Program for small and midsize businesses and a couple of tweaks that might encourage more banks to participate in the $349 billion Paycheck Protection Program.
Business interest expense election guidance for farming, real estate
Real property or farming trades or businesses can withdraw their decision to elect out of Sec. 163(j)’s business interest expense limitation for a 2018, 2019, or 2020 tax year.
CPA Exam testing center closings extended through May 1
Testing centers for the CPA Exam in the United States and Canada will remain closed through May 1, exam provider Prometric announced.
IRS launches tool for nonfilers to receive stimulus payments
The IRS has launched an online portal for taxpayers who are eligible to receive an economic impact payment but who are not normally required to file an income tax return because their income is too low.
FASB issues Q&As to clarify pandemic lease accounting issues
FASB posted a Q&A document to clarify questions about lease accounting that have arisen during the coronavirus pandemic.
Guidance on NOL carryback and tentative carryback adjustments
The IRS issued procedures to elect to forgo net operating loss carryback and extension of time to file tentative carryback adjustments.
IRS grants broad coronavirus-related tax relief
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.
5 steps for advising clients during COVID-19 crisis
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.
Partnerships can file amended returns to get CARES Act benefits
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.
SEC updates staff guidance on shareholder meetings
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.
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The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.
From The Tax Adviser
March 31, 2026
Current developments in taxation of individuals: Part 1
March 31, 2026
Current Developments in Taxation of Individuals: Part 1
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