Whether we’re talking tax, accounting regulations or ways to enhance your bottom line, each of these financial basics is foundational to your company’s success.

As the global health pandemic evolves, we continue to monitor it with the filter of what does this mean for our clients’ businesses? Below is our collection of tax and regulatory information, as well as opportunities and ideas, that will help you stay informed and focus on your business of tomorrow.

Find content in the following areas below: Business management/industry updates, federal tax, state and local tax, loan programs, financial reporting/regulations, not-for-profit, updates from regulatory/national organizations.
 

Loan Programs

• By the Numbers: PPP & Other SBA Loan Program Updates (3/29/21)
• 5 Common Questions Businesses Ask About Claiming the Employee Retention Credit (2/19/21)
• What Options Do Real Estate Entities Have Regarding the Business Interest Expense Deduction? (2/18/21)
• Consolidated Appropriations Act Allows 100% Meal Expense Deductibility to Aid Restaurant Industry (2/3/21)
• $284 Billion Allocated to Paycheck Protection Program Reboot in COVID Relief Package (12/28/20)
• Consolidated Appropriations Act Extends COVID-19 Employer Payroll Tax Credits (12/28/20)
• COVID Stimulus Package Offers Key Tax Extensions, Modifications and New Provisions to Consider (12/22/20, Updated: 12/28/20)
• Congress Passes COVID Stimulus Bill, Allows Taxpayers to Deduct Expenses Paid with PPP Funds (12/22/20)
• What You Should Know About the Paycheck Protection Program and M&A Transactions (11/25/20)
• IRS Issues Additional PPP Guidance on Timing: Expectation of Forgiveness Equals Nondeductible Expenses in 2020 (11/20/20)
• What Is a PPP Loan Necessity Questionnaire, and What Do You Need to Do? (11/3/20)
• Fall Updates and Considerations Regarding PPP Loan Forgiveness (10/29/20)
• Q&A: Reporting Forgiven PPP Loans on Your Financial Statements (10/13/20)
• Fed Modifies Main Street Lending Program, Adds Facilities to Expand Not-for-Profit Loan Access (7/21/20)
• President Extends Paycheck Protection Program for Another Eight Weeks (7/6/20)
• SBA Releases Updated PPP Loan Forgiveness Application and Interim Final Rules (6/18/20)
• Senate passes the Paycheck Protection Program Flexibility Act of 2020, H.R. 7010 (6/4/20)
• SBA Releases PPP Loan Forgiveness Application and Instructions for Borrowers (5/18/20)
• CARES Act/Payroll Protection Program Presentation – Updates and Planning Recommendations for Maximizing Loan Forgiveness and Tax Credits (5/15/20)
• Interim Rule May Retroactively Offer Partnerships and Others Additional Funds from Paycheck Protection Loans (5/14/20)
• SBA Offers Certification Safe Harbor and Relief for Small Business Recipients of Paycheck Protection Loans (5/13/20)
• SBA Offers Safe Harbor, Extends PPP Loan Repayment Deadline for Those in “Good Faith” (5/8/20)
• Paycheck Protection Program (PPP) letter template to Treasury (5/7/20)
• Paycheck Protection Program (PPP) letter template to the SBA (5/7/20)
• SBA Clarifies Paycheck Protection Program for Hedge Funds and Private Equity Firms (4/28/20)
• SBA Issues New Guidance on Paycheck Protection Program (4/24/20)
• Comment Letter to the Federal Reserve on the Main Street Lending Program (4/15/20)
• Federal Reserve Introduces Main Street Lending Program (Updated 7/21/20)
• 7 Areas of Relief Offered by the SEC and CFTC Related to COVID-19 (4/9/20)
• How a Business with More than 500 Employees May Qualify for the SBA’s 7(a) Paycheck Protection Loan Program (4/8/20)
• Comment Letter to the SBA on COVID Loan Program Rules (4/6/20)
• Answers to Your Questions on SBA Economic Injury Disaster Loans and 7(a) Relief Programs (3/30/ 20)
• Expansion of SBA 7(a) Loan Program Offers Paycheck Protection for Businesses (Updated 4/3/20)
• Is Your Business a Small Business for the SBA Economic Injury Disaster Loan Program? (3/24/20)
• SBA Economic Injury Disaster Loan and Emergency Grants (Updated 4/6/20)
• FAQs on SBA Paycheck Protection Loan Program (U.S. Small Business Administration)
• Small Business Disaster Loan Program (U.S. Small Business Administration)
• Applying for an Economic Injury Disaster Loan (U.S. Small Business Administration)
• Coronavirus Emergency Loans Small Business Guide and Checklist (U.S. Chamber of Commerce)

Federal Tax

• A Closer Look at Relief Offered by the American Rescue Plan Act (3/17/21)
• What the American Rescue Plan Act of 2021 Offers You and Your Business (3/11/21)
• How Employers Can Offer Disaster Relief Payments to Employees, Tax Free, During the Pandemic (3/8/21)
• IRS Notice 2021-10 Extends 5 Key Deadlines for Qualified Opportunity Zone Participants (1/29/21)
• IRS Issues Notice 2020-65 to Provide Guidance to Employers (8/31/20)
• President Signs Order for Deferral of Payroll Tax Obligations for COVID-19 Relief (8/11/20)
• What CARES Act NOL Carrybacks and AMT Credits Mean for Corporations (8/6/20)
• What You Need to Know About Coronavirus-Related Distributions and Relief for Required Minimum Distributions (7/2/20)
• Treasury Offers Opportunity Zone Participants Pandemic Relief in Notice 2020-39 (6/9/20)
• What Medical Practices Should Know About Round 2 of the CARES Act Provider Relief Fund — Health and Human Services COVID-19 Stimulus Program (5/1/20)
• Interim Stimulus Plan Amends CARES Act, Expands Funding for COVID-19 Relief Loan Programs (4/24/20)
• IRS Clarifies Employer Payroll Deferral Rules for Paycheck Protection Program Offered in CARES Act (4/14/20)
• Treasury Postpones Estimated Tax Payments and Other Time Sensitive Actions in Further Response to COVID-19 (4/14/20)
• IRS Offers Penalty Relief on Reduced Federal Employment Tax Deposits in Anticipation of COVID-19 Payroll Tax Credits (4/3/20)
• CARES Act Offers 14 Areas of Potential Tax Relief for Taxpayers (4/2/20)
• IRS Expands Filing Deadline Relief to Include Gift and Generation-Skipping Transfer Returns (3/28/20)
• IRS Issues Helpful FAQs on Income Tax Filing Extensions, Clarifies 5 Key Concerns (Updated 3/28/ 20)
• IRS Offers More Relief Regarding July 15 Deadline for Federal Income Tax Returns and Payments (3/21/20)
• IRS Delays Tax Filing Deadline Due to COVID-19 (3/20/20)
• The Families First Coronavirus Response Act: Employer Paid Leave Provisions & Tax Credits Explained (3/20/20)
• IRS Payment and Filing Deadlines: Q&A (IRS)
• Coronavirus Tax Relief and Economic Impact Payments (IRS)

State and Local Tax

• View all State and Local Tax Thought Leadership
• Teleworking Employees/SALT Nexus - COVID-19 Relief chart (Updated 5/26/20)
• State and Local Tax COVID-19 Relief Tracker (Updated 6/10/20)
• AICPA Multi-State Extension Tracker

Financial Reporting/Regulations

• Consolidated Appropriations Act Changes Credit Loss and Debt Restructuring (3/24/21)
• Questions Remain on How Providers Should Account for Provider Relief Fund Money (3/15/21)
• FASB Issues Guidance on Debt Modifications and Restructurings to Help Distressed Borrowers (2/22/21)
• How These 8 Areas May Impact Your 2020 Employee Benefit Plan Audit (2/10/21)
• 4 COVID-19 Related Changes You Can Expect on Your Company’s Next Review (2/2/21)
• Are Your Methods of Deducting Bad Debts Still Relevant in the COVID-19 Era? (1/13/21)
• Private Company Council Clarifies Goodwill Impairment Rules (1/6/21)
• How to Treat Debt on Your Financial Statements When You are in Violation of Loan Covenants (11/23/20)
• 4 Options to Account for Your Company’s PPP Loan (7/15/20)
• How to Account for Termination Benefits (7/8/20)
• Pre, During and Post Bankruptcy: Financial Reporting to Be Mindful of at Each Stage (6/25/20)
• Early Adoption of Simplified Goodwill Impairment Rules Could Save Companies Time and Money (6/18/20)
• Joint Statement Clarifies Short-Term Loan Modifications in Light of COVID-19 Are Not Troubled Debt Restructurings (6/17/20)
• Accounting Standards Update: Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842) (FASB, 6/4/20)
• 5 Areas of Financial Reporting Mutual Fund Audit Committees Should Evaluate in Light of COVID-19 (4/22/20)
• 6 Ways the COVID-19 Pandemic Could Affect Financial Reporting for Operating Companies (4/3/2020)

Business Management/Industry Impact

• 3 Critical Lessons to Incorporate into Your Business in a Post-COVID World (4/8/21)
• 3 Areas to Help Businesses Manage Through, and Beyond, a Crisis (3/16/21)
• Taking Shape: What Will the Deal Market Look Like for Private Companies After the Pandemic? (2/23/21)
• Wholesale and Distribution: Emerging Trends in the Face of a Pandemic (10/7/20)
• What Management Should Be Looking for Regarding Going-Concern Issues During COVID-19 (9/23/ 20)
• The Ongoing Impact of COVID-19 on Bankruptcy Filings in the Top 10 U.S. Industries (9/15/20)
• The Effects of COVID-19 on Commercial Real Estate (7/29/20)
• The 2 Questions (and More) Your Company Should Be Asking About Internal Controls and Fraud During COVID-19 (7/23/20)
• 3 Areas Your Professional Services Firm Should Focus on to Strengthen Your Business (7/9/20)
• How COVID-19 State Shutdowns are Impacting the Bankruptcy Landscape in Key U.S. Industries (6/9/20)
• Business Intel: Understanding Different Revenue Metrics (6/1/20)
• Business Intel: Strategizing your Debt Instruments (5/20/20)
• Your Checklist to Remain Audit Ready in a Virtual World (5/15/20)
• Business Intel: 4 Areas of Your Balance Sheet That Could Be Hidden Sources of Capital (5/12/20)
• Business Intel: 6 Ways to Improve Your Working Capital and Optimize Cash Management (5/5/20)
• Business Intel: Why Liquidity Ratios and Cash Conversion Cycles Matter (4/27/20)
• How Zero Based Budgeting and Rolling Forecasts Can Help You Plan During Turbulent Times (4/23/ 20)
• Preparing Your Business for a Post COVID-19 Sale (4/17/20)
• 3 Ownership Transition Techniques to Help Family Business Owners Find Opportunity in Today’s Market (Updated 4/16/20)
• 5 Components of a Solid Organizational Design that Will Help You Manage Your Business During a Crisis (4/15/20)
• Real-life Testing of Your Business Continuity Plan During the COVID-19 Pandemic (4/6/20)
• 5 Steps to Addressing Your Business’s Cash Management and Liquidity (3/18/20)
• Pandemic Disruption: 3 IT Risks to your Cybersecurity (3/17/20)
• COVID-19, Pandemics and the Accelerated Need for Digital Business Transformation (3/13/20)
• Pandemic Planning (Gartner, 3/11/20)

Not-for-Profit

• State of Ohio Offers Not-for-Profits Grant Opportunity Through CARES Act (11/18/20)
• 3 Considerations for Nonprofit Accounting of PPP Loan Funds (5/28/20)
• CARES Act Expands Benefits of Charitable Giving for Businesses and Individuals (4/21/20)
• Treasury Postpones Estimated Tax Payments and Other Time Sensitive Actions in Further Response to COVID-19 (4/14/20)
• Federal CARES Act Supports Nonprofit Cultural Organizations (3/28/20)
• Not-for-Profit Update: Eligibility for SBA Loans Addressed; Single Audit Extensions Granted (3/26/20)
• FAQs Regarding Participation of Faith-Based Organizations in the Paycheck Protection Program and the Economic Injury Disaster Loan Program (U.S. Small Business Administration)

Regulatory/National Organizations

• IRS Latest News
• NFA Updates & Guidance for COVID-19
• SEC Coronavirus (COVID-19) Response
• ICI Resources on COVID-19
• AICPA Coronavirus (COVID-19) Resource Center