COVID-19 news and information for CPAs

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April 19, 2021

SBA aims to reopen Shuttered Venue Operators Grant portal this week

The SBA has targeted the end of this week for reopening the application portal for the $16.25 billion Shuttered Venue Operators Grant (SVOG) program. Technical problems forced the SBA to close the portal for repairs only hours after it opened on April 8.

April 14, 2021

IRS extends penalty relief for pandemic payroll credits

The IRS provided for penalty relief under Sec. 6656 for an employer’s failure to timely deposit certain employment taxes with the IRS to allow employers to immediately take advantage of various credits enacted in response to the COVID-19 pandemic.

April 12, 2021

6 proactive steps accountants can take to get promoted in 2021

Individuals who are proactive about their professional development and excel at communication and other soft skills have the best chance of promotion in a remote-working environment.

April 12, 2021

How the 2021 busy season is different

Some accounting firms prepared for the 2021 busy season by staffing up and offering more flexible work options for employees dealing with family issues during the pandemic.

April 9, 2021

How hiring practices have shifted as a result of the pandemic

Companies should consider benefits and challenges of hiring workers outside their geographic area.

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.

April 8, 2021

Shuttered Venue Operators Grant program closes for repairs on its opening day

The SBA opened its new application portal for the $16.25 billion Shuttered Venue Operators Grant (SVOG) program, but shut it down for repairs due to “technical difficulties” that prevented the platform from accepting applications.

April 8, 2021

IRS explains which meals qualify for temporary 100% expense deduction

The IRS issued guidance on the temporary rule that allows a 100% deduction for eligible restaurant meals in 2021 and 2022.

April 8, 2021

Bill to postpone estimated tax due date to be introduced in Congress

Rep. Lloyd Smucker, R.-Pa., announced he will introduce a bill that pushes back the due date for first-quarter 2021 estimated tax payments from April 15, 2021, to May 17, 2021. The AICPA expressed its support for the bill.

April 8, 2021