COVID-19 news and information for CPAs

TOPICS

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.

April 13, 2020

Key facts about the Fed’s $2.3 trillion loan initiative

CPAs should pay careful attention to the new $600 billion Main Street Lending Program for small and midsize businesses and a couple of tweaks that might encourage more banks to participate in the $349 billion Paycheck Protection Program.

April 13, 2020

Business interest expense election guidance for farming, real estate

Real property or farming trades or businesses can withdraw their decision to elect out of Sec. 163(j)’s business interest expense limitation for a 2018, 2019, or 2020 tax year.

April 10, 2020

CPA Exam testing center closings extended through May 1

Testing centers for the CPA Exam in the United States and Canada will remain closed through May 1, exam provider Prometric announced.

April 10, 2020

IRS launches tool for nonfilers to receive stimulus payments

The IRS has launched an online portal for taxpayers who are eligible to receive an economic impact payment but who are not normally required to file an income tax return because their income is too low.

April 10, 2020

FASB issues Q&As to clarify pandemic lease accounting issues

FASB posted a Q&A document to clarify questions about lease accounting that have arisen during the coronavirus pandemic.

April 10, 2020

Guidance on NOL carryback and tentative carryback adjustments

The IRS issued procedures to elect to forgo net operating loss carryback and extension of time to file tentative carryback adjustments.

April 9, 2020

IRS grants broad coronavirus-related tax relief

The IRS granted relief for a broad array of tax filing and payment deadlines that fall between April 1 and July 15, expanding on previous relief, as requested by the AICPA.

April 9, 2020

Application advice for SBA loans

You’re likely to have questions about the Paycheck Protection Program loans offered by the U.S. Small Business Administration. This podcast episode has some answers.