COVID-19 news and information for CPAs

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May 15, 2020

IRS explains how nonfilers can receive economic impact payments

Individuals not required to file a return can use a tool on the IRS website or file a special 2019 return.

May 15, 2020

Deducting home office expenses

Help tax clients fulfill exacting requirements.

May 15, 2020

Auditing during COVID-19: 6 areas to focus on

Here is how practitioners can handle some of their biggest challenges when conducting audits in the current environment.

May 15, 2020

COVID-19 tax guidance for businesses

The IRS provided guidance on how businesses can take advantage of CARES Act tax provisions.

May 15, 2020

IRS grants relief for COVID-19 disruptions on tax residency

Time rules are eased for the substantial presence test for foreign citizens in the US and the foreign earned income exclusion for US citizens abroad.

May 15, 2020

How the COVID-19 crisis is leading to lasting change

Take a look at 11 ways the pandemic is fundamentally altering our work and society.

May 15, 2020

IRS posts FAQs on paid COVID-19-related sick and family leave

Employer tax credits for small businesses are provided under the Families First Coronavirus Response Act.

May 14, 2020

SBA allows increased PPP loans to partnerships, extends safe harbor to May 18

The U.S. Small Business Administration (SBA) issued a new interim final rule opening the door for lenders to increase existing Paycheck Protection Program loans to partnerships and seasonal employers.

May 14, 2020

What CPAs should consider before deferring ASB reporting standards

The AICPA Auditing Standards Board delayed the effective dates of seven new standards as a result of the coronavirus pandemic. Here’s what auditors need to know about the standards and their delay.

May 13, 2020

SBA provides safe harbor for PPP loans under $2 million

The US Small Business Administration issued guidance stating that businesses that together with their affiliates accepted Paycheck Protection Program loans totaling less than $2 million will be assumed to have certified their loans in good faith.