AICPA Advocacy

TOPICS

August 28, 2020

How lenders should account for forgivable PPP loans

The forgivable portion of a Paycheck Protection Program loan should be accounted for by the lender as an interest-bearing loan until payment for that loan is received from the SBA, according to new Technical Question and Answer Guidance issued by the AICPA.

August 24, 2020

Teleworking and state and local taxes

This episode explores the huge implications for state and local taxes raised by workers more often untethered from the employer’s physical location, sometimes in another state. And now, during the COVID-19 pandemic, remote teleworking has become the rule for many professions.

August 20, 2020

Implementing the payroll tax deferral

We explore the range of issues that Treasury and the IRS face as they implement this order and what it all could mean for employers and employees.

August 13, 2020

AICPA requests guidance on payroll tax deferral

The AICPA has asked Treasury and the IRS for guidance on the recently announced executive order that defers some employee payroll taxes that would be due between Sept. 1 and Dec. 31.

August 11, 2020

Pandemic-related FAQs for health care entities

Health care entities’ financial statement preparers and auditors can benefit from an FAQ document developed by the AICPA on issues related to the coronavirus pandemic.

August 11, 2020

AICPA encourages COVID-19 tax relief and issues new auditing standards

Recent AICPA advocacy efforts have included requesting tax relief related to the coronavirus pandemic and issuing auditing standards related to audit evidence and auditing accounting estimates.

August 4, 2020

AICPA continues to ask Congress to include PPP deductibility in upcoming legislation

In a letter dated Aug. 4, 2020, the AICPA joined over 170 organizations to urge Congress to “include a technical correction addressing the tax treatment of loan forgiveness under the Paycheck Protection Program (PPP)” in its next round of legislation addressing the coronavirus pandemic.

July 24, 2020

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.

July 20, 2020

AICPA urges Congress to act on PPP issues, other topics in pandemic legislation

In a letter to congressional leaders on another round of pandemic aid legislation, the AICPA urged action on Paycheck Protection Program issues, tax obstacles to remote work, state and local government funding, and employer liability related to the coronavirus pandemic.

July 20, 2020

New AICPA tool automates PPP loan forgiveness process

Borrowers can apply for forgiveness of Paycheck Protection Program loans by using a new, free AICPA tool that CPA firms can also use to serve their clients. The tool will produce all government-required forms automatically.