COVID-19 news and information for CPAs

TOPICS

July 24, 2020

PPP forgiveness: No need to rush, and other tips

Borrowers and their CPA advisers may be eager to move ahead with the Paycheck Protection Program forgiveness process, but there are still many unsettled issues to consider.

July 23, 2020

Provider Relief Funds included in audit determination, HHS says

Nonfederal entities and for-profit entities are required to include Provider Relief Fund payments in the reported total annual federal fund expenditures that determine whether they meet the $750,000 threshold that triggers audit requirements, the US Department of Health and Human Services announced.

July 23, 2020

Underemployment spurs record drop in financial satisfaction

The AICPA’s Personal Financial Satisfaction Index saw a record drop of 55% over last quarter. A 244% rise in underemployment was the factor most responsible for the decline, followed by drops in the CPA Outlook Index and job openings.

July 20, 2020

AICPA urges Congress to act on PPP issues, other topics in pandemic legislation

In a letter to congressional leaders on another round of pandemic aid legislation, the AICPA urged action on Paycheck Protection Program issues, tax obstacles to remote work, state and local government funding, and employer liability related to the coronavirus pandemic.

July 20, 2020

New AICPA tool automates PPP loan forgiveness process

Borrowers can apply for forgiveness of Paycheck Protection Program loans by using a new, free AICPA tool that CPA firms can also use to serve their clients. The tool will produce all government-required forms automatically.

July 20, 2020

Pandemic-related legal risks that you can’t afford to ignore

A lawyer with years of experience advising companies on crisis management shares current and future legal risks organizations should be considering.

July 17, 2020

Fed expands Main Street Lending Program to more not-for-profits

The Federal Reserve board announced that it has made changes to the Main Street Lending Program to allow more participation from not-for-profits, including educational institutions, hospitals and social service organizations.

July 16, 2020

Show clients empathy in uncertain times

Two experienced CPA financial planners offer tips for reaching out to clients and helping to calm their fears.

July 15, 2020

Advice for firms thinking about reopening

Firms planning to reopen their offices in the near future share what steps they’re taking first, and offer advice for other organizations that have made the difficult decision to return to in-person work.

July 14, 2020

Pandemic issues for government financial statement preparers and auditors

The coronavirus pandemic has created numerous challenges for state and local government financial statement preparers and auditors. Many of these issues are addressed in FAQs published by the AICPA staff.

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.