COVID-19 news and information for CPAs

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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

PPP and tax advice for not-for-profits; honoring pioneering CPAs

Hear advice for not-for-profits related to tax and PPP applications, along with why one pioneering CPA’s own role model was her sister.

April 6, 2021

PCAOB’s 2021 inspections target pandemic concerns, predictability

The effects of the coronavirus pandemic on companies’ financial reporting will be a focus of the PCAOB’s inspections in 2021. The board also will strive to become less predictable in the audits and subject areas reviewed by inspectors.

April 5, 2021

How to claim the employee retention credit for the first half of 2021

The IRS issued guidance on how to claim the employee retention credit for the first and second quarters of 2021. It will issue guidance on the employee retention credit from July 1 to Dec. 31, 2021, provided in new Sec. 3134, at a later date.

April 5, 2021

Keys to striking an effective balance as a manager

This article offers tips on balancing empathetic leadership with critical business goals.

April 1, 2021

Details of the April 15 postponement and a primer on SVOG

What deadlines have been extended related to the PPP and tax filing? What deadlines haven’t? What grant program is about to open? Learn more in this podcast.

April 1, 2021

Members of Congress request estimated tax deadline postponement

A bipartisan group of 60 members of Congress wrote the IRS, urging that the deadline for first quarter 2021 federal estimated tax payments be postponed until May 17.