COVID-19 news and information for CPAs

TOPICS

March 18, 2020

AICPA expresses strong concern over lack of filing relief in coronavirus tax notice

The IRS delayed any tax payments due April 15 to July 15 without interest or penalties accruing. The relief does not extend any tax return filing deadlines.

March 18, 2020

Prometric closes CPA Exam test centers for 30 days

Prometric’s CPA Exam test centers are closing for 30 days in the US and Canada to protect the health of test takers and staff during the coronavirus outbreak.

March 18, 2020

In focus: Map of coronavirus cases in the U.S.

The COVID-19 outbreak that began in China has now spread globally. Here’s a view of reported cases in the U.S.

March 17, 2020

Treasury secretary announces 90-day delay in tax payment deadline

Treasury Secretary Steven Mnuchin announced that individuals and businesses can delay their tax payments for 90 days due to the coronavirus pandemic.

March 17, 2020

How the coronavirus may affect financial reporting and auditing

The coronavirus pandemic looks likely to create major challenges for the preparation of financial statements, both for the current quarter and also for annual financial reports and audits over the next year.

March 13, 2020

Tech tips for firms responding to coronavirus

A CPA firm’s IT director shares advice for organizations to assess and set up longer-term remote work in the wake of coronavirus concerns.

March 13, 2020

What to do if staff can’t make it to the office

As the coronavirus pandemic leads to staff scattering, here is expert advice on what firms can do to make remote working work.

March 11, 2020

High-deductible health plans can cover coronavirus testing, treatment

To facilitate the nation’s response to COVID-19, the IRS issued guidance permitting high-deductible health plans to cover costs for testing and treating the virus without satisfying a deductible requirement.

March 10, 2020

Calming clients’ fears during the coronavirus outbreak

How can CPAs deal with client anxieties during a time of uncertainty? The best steps include preparing them for unexpected events before they happen and acknowledging their concerns.

March 5, 2020

35 questions for coronavirus planning

Business leaders should be proactive in putting emergency plans in place in response to the spread of coronavirus. Here’s a checklist for organizations related to employees, customers, and vendors.