COVID-19 news and information for CPAs

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March 30, 2021

Biden signs PPP deadline extension into law

The Paycheck Protection Program (PPP) application deadline formally changed from March 31 to May 31 when President Joe Biden signed the extension into law.

March 29, 2021

IRS provides details on April 15 postponement

The IRS issued a notice providing more details and clarification of its previously announced postponement of the April 15 tax deadline for individuals. The notice extends the date for making 2020 IRA contributions; however, it does not extend the date for estimated tax payments.

March 29, 2021

How CPAs can help clients combining households during the pandemic

CPAs share their thoughts on how to help clients through changes in households.

March 26, 2021

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.

March 25, 2021

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.

March 25, 2021

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.

March 25, 2021