How to report coronavirus paid sick leave and family leave to employees
The IRS issued guidance on how employers should report qualified sick and family leave paid to employees under the Families First Coronavirus Response Act.
COVID-19
FASB proposes delay of insurance standard effective date
FASB proposed a one-year extension to the effective date of its new standard on long-duration insurance contracts to provide relief for insurance companies affected by the coronavirus pandemic.
EIDL pandemic assistance facts for CPAs
Economic Injury Disaster Loans can provide small businesses with low-interest pandemic assistance over a 30-year term. To help their businesses and clients, CPAs need to understand the key terms that these loans provide.
A 6-point security checkup for working from everywhere
Quarantines prompted by the coronavirus pandemic have forced many organizations to deploy and configure technology to support 100% remote work and/or a mix of working remotely on certain days.
SBA, Treasury release names of some PPP recipients
The SBA and Treasury published a trove of loan-level data about the Paycheck Protection Program. The release includes the names of all PPP recipients that received loans for $150,000 or more.
Consolidated groups get NOL guidance
The IRS issued proposed and temporary regulations explaining how consolidated groups should apply the changes to the net operating loss rules enacted by the CARES Act.
GASB issues pandemic-related accounting guidance
GASB issued a technical bulletin to help state and local governments apply existing standards to transactions related to coronavirus relief legislation and certain outflows incurred in response to the pandemic.
Trump signs 5-week PPP extension
President Donald Trump signed a bill Saturday re-opening the application window for Paycheck Protection Program loans until Aug. 8. The five-week extension is intended to keep assistance available to struggling small businesses while Congress works on a new, more targeted program.
Tips for untangling CARES Act tax quandaries
The global pandemic has offered many lessons in impermanence, including how parts of the tax reform legislation that seemed monumental upon its passage two and a half years ago have been temporarily rolled back to provide badly needed relief.
AICPA tax comment letters include pandemic-related advocacy
The AICPA Tax Policy and Advocacy team produced six tax-related comment letters in June with a goal of assisting accounting professionals and taxpayers.
A tax marathon check-in
Ed Karl and Chris Hesse update us on how the 2020 marathon of a tax return filing season is going, whether the coronavirus-related return due date delay until July 15 is long enough, and what other relief taxpayers and their CPAs need.
Ergonomics for the home office
The human connection can be difficult to accomplish remotely, but the right workspace can ease some of the challenges and ensure you are at your best.
Tentative refunds under the CARES Act in 2020
The pandemic relief bill expands opportunities to use net operating loss carrybacks and unused AMT credits.
Technology lessons from the pandemic — and beyond
The upheaval of the coronavirus crisis caused the accounting profession to turn to technology like never before. Our technology roundtable discusses what was learned — and what the future holds.
Alan Jowers, CPA
Building relationships is a key to helping clients achieve their mission, according to Alan Jowers, CPA, a partner with Carr, Riggs & Ingram, LLC.
PPP lender accounting issues addressed by new TQAs
New Technical Questions and Answers issued by the AICPA discuss accounting issues lenders have encountered related to the Paycheck Protection Program.
IRS will not postpone July 15 deadline
The IRS announced that it will not further postpone federal tax filing and payment deadlines beyond July 15.
PPP: Client forgiveness services Q&As for CPAs
Here are tips that help CPAs understand which service they should provide as well as other important issues related to the PPP.
How COVID-19 taught new ways to work
Changes once considered radical have become the norm in the accounting profession. Firm leaders share their lessons learned.
Working from home: What does the future hold?
Tom Hood, CPA/CITP, CGMA, shares what the pandemic-fueled acceleration of work-from-home practices means for business in the future.
