COVID-19 news and information for CPAs

TOPICS

November 1, 2020

COVID-19 and withdrawals from retirement plans

Taxpayers under financial duress caused by the pandemic can avoid penalties.

November 1, 2020

Deducting losses in the CARES Act’s window

For a limited time, taxpayers have flexibility for using net operating losses.

November 1, 2020

Tech tips for remote work

Maximize comfort and productivity with an optimized internet connection and a decluttered digital desktop.

November 1, 2020

Pandemic accounting: How to make the right judgments

Guidance exists on numerous specific financial reporting issues related to lease concessions, various forms of government assistance, and loan restructurings. Here’s how you can find it.

October 30, 2020

Fed opens up Main Street loans to smaller businesses

The Federal Reserve board announced that it lowered the minimum loan size for three of its Main Street Lending Program facilities in an effort to make the program available to more and smaller businesses.

October 30, 2020

Guidance on deferred employee payroll tax issued

The IRS issued guidance to employers and employees on reporting deferred Social Security tax on Form W-2, Wage and Tax Statement, under the Aug. 8 Presidential Memorandum authorizing the deferral.

October 28, 2020

FASB staff weighs in on debt modifications and restructurings

FASB staff issued a paper that educates borrowers on accounting for debt modifications and restructurings, which have surged as a result of the coronavirus pandemic.

October 28, 2020

Template for requesting penalty abatement available from AICPA

The AICPA has created a template for members to use when requesting a penalty abatement from the IRS. Many taxpayers are receiving penalty notices after COVID-19 hampered their ability to meet tax filing obligations.

October 26, 2020

How to land a job — from a distance

Experts share advice for remote job seekers on how to search for positions, manage the interview process, and impress potential future employers.

October 21, 2020

Pandemic resilience starts with compassion, accountants say

Panelists at an AICPA fall Council presentation on resilience explained how basic values can drive success during troubled times such as the coronavirus pandemic.

FROM THIS MONTH'S ISSUE

Build reusable Skills in Anthropic’s Claude AI

Instead of rewriting prompts each time, CPAs can turn routine tasks into reusable AI Skills. This Technology Q&A walks through how to build Claude Skills that process files, ask setup questions, and export clean Excel outputs.