Blog
Our Blog acts as a great resource of topical information for the finance community. Use the search function to find specific topics or browse our categories to benefit from our past shared learnings.
COVID-19 Guidance from the U.S. Department of Labor
The Wage and Hour Division provides information on common issues employers and employees face when responding to COVID-19, and its effects on wages and hours worked under the Fair Labor Standards Act (FLSA), job-protected leave under the Family and Medical Leave Act (FMLA), and paid sick leave and expanded family and medical leave under the […]
IRS Issues Additional Clarity on Tax Deadlines
AAFCPAs has received many e-mails and phone calls in response to the recent announcements from the IRS related to the federal tax filing and payment deadline extensions. As a reminder, Treasury Secretary Steven Mnuchin announced last week that the IRS will move the national income tax filing and payment day ahead to July 15th. This […]
How to Transfer Tax Documents to AAFCPAs
Due to the current status of the Coronavirus and the potential for mail service delays & travel restrictions, AAFCPAs encourages clients to transfer tax documents electronically. We offer the following 3 options for secure, electronic transfer: TaxCaddy: TaxCaddy is a secure application that will allow you to easily collect, store, and transfer your tax documents. […]
CARES Act and COVID-19 Related Link Resources
AAFCPAs has compiled the below links to help you find resources to support your organization. We will continue to update and add to this as warranted. Helpful Resources LISC Rapid Relief & Resiliency Fund for Massachusetts https://www.lisc.org/boston/covid-19/rapid-relief-and-resiliency-fund-for-massachusetts/ Associated Industries of Massachusetts (AIM) Blog: Employers’ Guide to COVID-19 https://aimnet.org/blog/the-employers-guide-to-covid-19/ COVID-19 Resource Page for Employers https://aimnet.org/covid-19-resource-page-for-employers/ Attorney […]
Federal Tax Filing Deadline Extended to July 15th
As the Coronavirus (COVID-19) pandemic continues to unfold, AAFCPAs has received many e-mails and phone calls. Treasury Secretary Steven Mnuchin announced today, March 20th, 2020 that the IRS will move the national income tax filing day ahead to July 15th, three months after the normal deadline for Americans to send in their returns. The filing […]
Coronavirus: Business Impacts and Planning
The Coronavirus pandemic (COVID-19) is impacting our lives and businesses in a way that none of us have experienced before. The global economy is certainly impacted, and businesses and individuals are reacting to an uncharted situation that continues to evolve rapidly. Certainly, health and safety are our primary concerns. Business leaders have been forced to […]
Disaster Assistance Loans for Small Businesses & Nonprofits Impacted by Coronavirus
AAFCPAs would like to make clients aware that the U.S. Small Business Administration (SBA) will offer low-interest federal disaster loans for working capital to Massachusetts small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19). SBA Economic Injury Disaster Loan Small businesses, private nonprofit organizations of any size, small agricultural cooperatives and […]
US Treasury Announces 90-Day Delay in Tax Payment Deadline
AAFCPAs would like to make clients aware that the U.S. government announced on Tuesday, March 17, 2020 that certain individuals and corporations may delay their tax payments for 90 days from the April 15 deadline —or until July 15th—due to the coronavirus (COVID-19) pandemic. Individuals may defer up to $1 million in payments for 90 […]
Cancelled Fundraising Events, Written Notice Requirements
On March 10, 2020 MA Governor Charlie Baker declared a state of emergency for the Commonwealth of Massachusetts in response to the spread of the Coronavirus. The Governor’s administration offered guidance to the public to limit or eliminate attendance at large gatherings. As a result, several of AAFCPAs’ nonprofit clients have made the difficult decision […]