AICPA Advocacy

TOPICS

April 8, 2021

AICPA recommendations on Q1 estimates and 2020 Form 709 extensions

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.

March 30, 2021

Biden signs PPP deadline extension into law

The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 when President Joe Biden signed the extension into law.

March 25, 2021

Why the tax filing extension does not help everyone

The extension to May 17 for individual tax filing and payment helped some but not all taxpayers. Hear more on the latest podcast episode, which includes a transcript.

March 23, 2021

Tax filing postponement doesn’t go far enough, AICPA says

The IRS has postponed individual returns’ due date to May 17, but June 15 remains a more appropriate date for many reasons, the AICPA says.

March 17, 2021

House passes PPP deadline extension in 415-3 vote

The U.S. House of Representatives voted 415-3 Tuesday night to extend the Paycheck Protection Program application deadline by 60 days. The PPP Extension Act of 2021 moves the PPP application deadline from March 31 to May 31 and allots an additional 30 days for processing applications received by May.

March 16, 2021

AICPA asks for guidance on S corp. and partnership PPP loan forgiveness

In a letter dated March 15, the AICPA asked for IRS guidance on how S corporations and partnerships should treat tax-exempt income from PPP loan forgiveness, especially when it occurs during a different tax period.

March 10, 2021

AICPA’s Simpson pushes for PPP deadline delay at congressional hearing

The AICPA’s vice president for Firm Services, Lisa Simpson, CPA, CGMA, told a congressional committee during a hearing that Congress should push back the application deadline for the Paycheck Protection Program by at least 60 days.

March 9, 2021

AICPA takes case for PPP deadline delay to Congress

The AICPA sent a letter encouraging congressional leaders to push back the Paycheck Protection Program’s March 31 application deadline at least 60 days.

March 8, 2021

CPAs urged to be voice of calm in PPP storm

Rule changes, deadline pressures, and ongoing processing problems with the Paycheck Protection Program are causing high levels of frustration and anxiety among many small businesses. This creates an opportunity for CPAs to provide calm guidance for stressed clients.

March 5, 2021

AICPA calls on SBA to change ‘unfair’ PPP guidance, deadline

The AICPA reiterated its recommendation that the SBA delay the end of the Paycheck Protection Program (PPP) application period by at least 60 days and also urged the SBA to make retroactive new rules issued this week changing the formula sole proprietors use to calculate their maximum loan amounts.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.