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COVID-19 news and information

Amounts paid for personal protective equipment qualify for medical deduction

The IRS announced that purchases of personal protective equipment used to combat the COVID-19 pandemic qualify for the Sec. 213 medical expenses deduction to the extent they exceed 7.5% of a taxpayer’s adjusted gross income and have not been compensated for by insurance or otherwise.

PPP quiz: 5 frequently asked questions

Businesses and the CPAs who serve them have many questions about the administration and implementation of the Paycheck Protection Program. See if you can answer some of the questions most often asked of the AICPA’s PPP experts.

Deadline for certain single audits delayed because of pandemic

The Office of Management and Budget is permitting a six-month delay beyond the normal due date for recipients and subrecipients with fiscal year ends through June 30, 2021, that have not yet filed their single audits with the Federal Audit Clearinghouse.

SBA raises COVID-19 EIDL loan limit to $500,000

The SBA announced that starting the week of April 6 it will more than triple the maximum amount that small businesses and nonprofits can borrow under the COVID-19 Economic Injury Disaster Loans (EIDL) program.

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Tools for finding CAS clients

How to find the right CAS clients

The key to success with CAS is selecting the best clients. Tools like ideal client profiles (ICPs), buyer personas, and even artificial intelligence can help identify the businesses that best fit each CAS practice.

From The Tax Adviser

March 6, 2026

Navigating the Form 1099-DA reporting maze

February 28, 2026

CPA firm M&A tax issues

February 18, 2026

Why LIFO, why now?

February 10, 2026

Navigating safe-harbor rules for solar and wind Sec. 48E facilities