COVID-19 news and information for CPAs

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April 17, 2020

How the COVID-19 crisis is leading to lasting change

The COVID-19 crisis has caused pain, loss and overwhelming gloom. It also is leading to lasting change in the workplace, which may be fundamentally different in many ways after the crisis ends.

April 16, 2020

SBA stops accepting PPP applications after funding runs out

The U.S. Small Business Administration stopped accepting applications for the Paycheck Protection Program after exhausting the initial $349 billion in funding provided by Congress to fund forgivable loans to small businesses impacted by the COVID-19 pandemic.

April 16, 2020

SSI recipients to receive stimulus payments; dependent payments require extra step

The IRS announce that Supplemental Security Income (SSI) recipients will receive automatic stimulus payments, but some taxpayers need to enter information about qualifying children.

April 16, 2020

Pandemic alters lease accounting landscape

The coronavirus pandemic has led to a likely delay in the effective date of FASB’s new lease accounting standard as well as an environment in which lease concessions may lead to new accounting considerations.

April 15, 2020

GASB proposes postponing effective dates due to pandemic

GASB issued a proposal that would postpone by one year the effective dates of most GASB statements and implementation guides due to be implemented for fiscal years 2019 and later.

April 15, 2020

IRS launches website for tracking stimulus payments

The IRS announced the launch of its “Get My Payment” website, which is designed to permit people who filed tax returns to enter their direct deposit information and check the status of their $1,200 stimulus payment.

April 14, 2020

SBA publishes new PPP guidance for the self-employed and general partners

The US Small Business Administration issued guidance for independent contractors, sole proprietors and others with self-employment income to apply for forgivable loans under the $349 billion Paycheck Protection Program.

April 14, 2020

An online pivot can be an opportunity

A faculty member reconfigured her finance class in the wake of the COVID-19 crisis to teach soft skills.

April 14, 2020

How to get started making videos for your classes

Video-savvy faculty present their best tips and techniques for shooting your own educational videos.

April 13, 2020

Tips for auditing with changed controls during the pandemic

Because business volume and activities have changed significantly for many clients, auditors face new challenges related to auditing with changes in internal control. Here’s how practitioners can adjust to the changes and deliver a high-quality audit.