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  • House gives final approval to $1.9 trillion pandemic aid bill

    March 11, 2021

    President Joe Biden on Thursday afternoon signed into law the $1.9 trillion coronavirus relief bill known as the American Rescue Plan Act, following a 220-211 vote of approval by the House of Representatives on Wednesday.

  • House gives final approval to $1.9 trillion pandemic aid bill

    March 10, 2021

    The House of Representatives voted 220–211 Wednesday, March 10, 2021 to approve the Senate version of a $1.9 trillion coronavirus relief bill, which President Joe Biden is expected to sign into law.

  • AICPA takes case for PPP deadline delay to Congress

    March 10, 2021

    The AICPA sent a letter Tuesday, March 9, 2021, encouraging congressional leaders to push back the Paycheck Protection Program’s (PPP’s) March 31 application deadline at least 60 days.

  • AICPA Requests Tax Deadline Postponement from April 15 to June 15

    March 5, 2021

    The AICPA on Thursday, March 4, 2021, sent a letter to IRS Commissioner Charles Rettig and Acting Assistant Secretary Mark Mazur urgently asking for the deadlines for filing all 2020 federal income tax and information returns and for making payments to be extended from April 15 to June 15, 2021, in response to a number of issues that make it impossible for many taxpayers to meet the April 15 deadline.

  • PPP Borrowers Can Use Gross Income, SBA Rules

    March 4, 2021

    The U.S. Small Business Administration (SBA) issued new Paycheck Protection Program (PPP) rules that allow self-employed individuals who file Form 1040, Schedule C, Profit or Loss From Business, to calculate their maximum loan amount using gross income instead of net profit.

  • AICPA urges Congress to extend PPP deadline

    March 3, 2021

    On March 2, 2021, the AICPA called on Congress to extend the application period for the Paycheck Protection Program (PPP) by at least 60 days.

  • IRS issues employee retention credit guidance

    March 2, 2021

    In Notice 2021-20, the IRS issued detailed guidance for employers claiming the employee retention credit for calendar quarters in 2020

  • SBA announces PPP process changes

    February 10, 2021

    SBA announces PPP process changes

  • AICPA raises PPP concerns with SBA

    February 4, 2021

    The AICPA sent a letter Wednesday urging the US Small Business Administration (SBA) to address problems small businesses are encountering when trying to apply for Paycheck Protection Program (PPP) forgivable loans.

  • 6 tips for CPAs on newest round of PPP funding

    January 21, 2021

    Business leaders and the CPAs who serve them will need to use a variety of strategies all at once as they pursue economic support in the newest round of Paycheck Protection Program (PPP) funding.