COVID-19 news and information for CPAs

TOPICS

August 4, 2020

New FAQs address PPP loan forgiveness issues

The SBA and Treasury published guidance answering 23 frequently asked questions related to the forgiveness of loans issued under the Paycheck Protection Program.

August 4, 2020

AICPA continues to ask Congress to include PPP deductibility in upcoming legislation

In a letter dated Aug. 4, 2020, the AICPA joined over 170 organizations to urge Congress to “include a technical correction addressing the tax treatment of loan forgiveness under the Paycheck Protection Program (PPP)” in its next round of legislation addressing the coronavirus pandemic.

August 3, 2020

Why agility is key for firms navigating COVID-19

The current circumstances force firms — and their clients — to deal with several challenges at the same time.

August 1, 2020

4 key COVID-19 audit risks for 2020 year ends

The coronavirus pandemic has created special challenges for practitioners to consider related to internal control, fraud, NOCLAR, and accounting estimates.

August 1, 2020

What’s your fraud IQ?

How prepared are you to deal with coronavirus-related fraud?

August 1, 2020

Talking through adversity

Hope is one of the most valuable services a CPA can provide during challenging times.

July 30, 2020

PPP and pandemic-related tips for not-for-profits

Not-for-profits face challenges related to funding, operations and strategy as a result of the coronavirus pandemic. These tips can help resolve issues related to the PPP, accounting and other topics.

July 30, 2020

IRS to allow faxing of automatic method change requests

The IRS announced that, beginning Friday, in response to the coronavirus pandemic, it is temporarily accepting duplicate copies of Form 3115, Application for Change in Accounting Method, sent by fax instead of mail.

July 29, 2020

IRS issues business interest expense limitation guidance

The IRS issued a package of related guidance on the business interest expense limitation enacted in the law known as the Tax Cuts and Jobs Act and amended by the CARES Act.

July 27, 2020

Guidance on recapture of excess employment tax credits

The IRS issued temporary and proposed regulations on how it will recapture excess credits taken by employers under recent coronavirus relief legislation.