COVID-19 news and information for CPAs

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November 30, 2023

Hear all about it: What’s in the December JofA

The JofA’s editor-in-chief highlights the news, features and advice that CPAs will find useful in the December issue of the magazine. Listen to the podcast or read the transcript.

October 25, 2023

COVID-19 changes allowing e-signatures made permanent

A temporary COVID-19 change to allow e-signatures on some forms, documents, and returns has been made permanent in the Internal Revenue Manual. The AICPA had advocated for making this change to the e-signature rules permanent.

September 21, 2023

ERC abuse brings renewed push for regulation of paid tax preparers

AICPA and Treasury advocate for congressional action to help thwart the unscrupulous promoters that use the employee retention credit to make money by taking advantage of small businesses.

September 19, 2023

‘Tsunami’ of ERC claims required IRS action to halt fraud, experts say

‘Tsunami’ of claims filed for employee retention credit almost 2 years after it ended caught the attention of the IRS. Experts say that required the IRS to take action to halt fraud.

September 15, 2023

ERC suspended: What happens next

The IRS has suspended the processing of new employee retention credit (ERC) claims to focus on about 600,000 pending claims. Listen to this special Tax Section Odyssey podcast for details on how this may affect you and how to best proceed.

September 15, 2023

Moratorium imposed on new ERC claim processing to curb abuse

The IRS issues a moratorium on new ERC claims processing through at least the end of the year and allows taxpayers to withdraw claims that have been filed but not processed.

August 9, 2023

Future C-suite leaders banking on continued hybrid work model

In a survey of manager-level professionals at financial services institutions, 66% said they likely would leave their current roles if required to return fully to the office. At the same time, the large majority see value in some in-office work hours.

July 28, 2023

To combat fraud, IRS steps up ERC claim enforcement

Having made significant progress in the ongoing effort against fraudulent employee retention credit claims, IRS Commissioner Danny Werfel said the agency has entered a new phase of increasing scrutiny on dubious submissions while renewing consumer warnings against aggressive marketing.

July 26, 2023

Final regs. allow assessment of COVID-19 related tax credit refunds

The IRS issues final regulations that allow for the assessment of erroneous refunds of COVID-19 related paid sick leave, family leave, and employee retention credits.

June 23, 2023

COVID-19 coverage without a deductible ends next year

A high-deductible health plan will no longer be permitted to provide coverage without a deductible for testing for and treatment of COVID-19 after Dec. 31, 2024.