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  • 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

  • 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.

  • PPP Calculations Guidance Releaased

    January 19, 2021

    The U.S. Small Business Administration (SBA) and Treasury issued an 18-page document Tuesday detailing how Paycheck Protection Program (PPP) borrowers should calculate revenue reduction and maximum loan amounts for second-draw PPP loans. The guidance also lists the documents borrowers must provide to support each set of calculations.

  • New PPP Guidance Issued by SBA and Treasury

    January 7, 2021

    The U.S. Small Business Administration (SBA) and Treasury issued guidance late Wednesday night for the reconstituted Paycheck Protection Program (PPP). The guidance came in the form of two interim final rules (IFRs).

  • AICPA Special News Alert Regarding Coronavirus Response & Relief Supplemental Appropriations Act

    December 22, 2020

    AICPA Special News Alert regarding federal stimulus legislation Coronavirus Response & Relief Supplemental Appropriations Act

  • IRS Issues 2021 Mileage Rates

    December 22, 2020

    IRS Issues 2021 Mileage Rates

  • Pandemic makes meeting Sept. 15 filing deadline difficult

    September 11, 2020

    With Sept. 15 tax filing deadlines looming, some tax practitioners have expressed concerns that they will not be able to meet those deadlines for a variety of reasons related to the global pandemic. Issues mentioned by AICPA members range from the extra time spent with economically challenged clients; to unexpected deadlines due to assisting with Paycheck Protection Program (PPP) loan applications and the PPP loan forgiveness process; to clients, members, and staff being incapacitated with COVID-19.

  • IRS Begins Accepting E-Filed Amended Tax Returns

    August 19, 2020

    The IRS announced Monday that it has begun accepting Forms 1040-X, Amended U.S. Individual Income Tax Return, electronically, which it calls a “major milestone in tax administration” (IR-2020-182).

  • AICPA Requests Guidance and Clarity on Payroll Tax Deferral Memo

    August 13, 2020

    The AICPA on Wednesday, August 12, 2020, sent a letter to Treasury and the IRS requesting guidance on the recent presidential memorandum deferring some employee payroll taxes until next year.