COVID-19 news and information for CPAs

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May 12, 2021

Restaurant Revitalization Fund faces huge funding shortfall

Restaurants and other hard-hit providers of on-site food and beverage have flooded the Restaurant Revitalization Fund (RRF) with $65 billion in grant requests, more than double the amount of money allocated to the program.

May 11, 2021

IRS clarifies pandemic relief for dependent care assistance programs

Dependent care assistance program benefits carried over or available during an extended claims period under special temporary COVID-19 relief provisions retain their status as excludable from employees’ gross income and wages, the IRS explains in a notice.

May 10, 2021

SBA sending first $2 billion in Restaurant Revitalization Fund payments

A week after opening the Restaurant Revitalization Fund, the US Small Business Administration is sending out a first round of payments totaling $2 billion to more than 16,000 restaurants and other eligible food and beverage providers.

May 10, 2021

Pandemic government relief: Details, allocations provided

Treasury on Monday provided details and allocations for state, local, territorial and tribal government pandemic relief totaling $350 billion that was established under the American Rescue Plan Act.

May 10, 2021

5 tips for overcoming your pandemic screen addiction

This article offers tips on using technology in healthier ways.

May 6, 2021

SBA unveils initial Restaurant Revitalization Fund results

The Restaurant Revitalization Fund received more than 186,000 applications from restaurants and other eligible businesses the first two days after its application window opened May 3.

May 6, 2021

Single audit: Pandemic aid and major program determinations

As pandemic relief adds to funding that needs to be considered in a single audit, it’s important to remember that the rules in the Uniform Guidance still prevail.

May 5, 2021

SBA stops accepting new PPP applications from most lenders as general funds run out

The SBA has informed lenders that it is no longer accepting new applications from most lenders for the Paycheck Protection Program because the $292 billion program’s general fund is nearly exhausted.

May 4, 2021

4 reopening mistakes employers must avoid

As firm leaders prepare for a post-pandemic work world, they should take care to plot a path that steers clear of potential pitfalls — four of which are explored in this article.

May 3, 2021