Industry
IRS Proposes LIHTC Average Income Test Regulations
On October 30, 2020 the IRS published a proposed rule for the low-income housing tax credit (LIHTC) average income (AI) test regulations. The proposed rule provides that if a project has multiple over-income units, it would not need to meet the next-available-unit rule in any particular order. This proposed rule also provides some flexibility in […]
MA Launches Stimulus Program to Boost Small Businesses
AAFCPAs would like to make clients aware that Massachusetts Governor, Charlie Baker has announced a new $50.8 million grant program for Massachusetts small businesses experiencing adverse impact from the pandemic. AAFCPAs’ client Massachusetts Growth Capital Corporation (MGCC) will be administering these funds to businesses experiencing economic hardship and a loss of income due to COVID-19. […]
Updated Reporting Requirements for Provider Relief Funds; Revised Definition of Lost Revenue
AAFCPAs would like to make clients aware, on October 22, 2020, the U.S. Department of Health and Human Services (HHS) issued an updated Post-Payment Notice of Reporting Requirements (the Notice) relating to General and Targeted Distributions made under the Provider Relief Fund (PRF). This Notice updates the calculation of lost revenue. On September 19, 2020 […]
Chapter 257 Salary Report Due by January 15, 2021
Updated 10.21.20: The Executive Office of Health and Human Services (EOHHS) has extended the deadline for the Chapter 257 Salary Report for FY 2019 – FY 2021. Please note that the Salary Report submission date is now January 15, 2021 to coincide with the submission of the FY2020 UFRs. This report is required by Chapter […]
HHS Announces $20 Billion in New Phase 3 Provider Relief Funding
On October 1, 2020, the U.S. Department of Health and Human Services (HHS), through the Health Resources and Services Administration (HRSA), announced $20 billion in new funding for providers on the frontlines of the Coronavirus pandemic. Under this Phase 3 General Distribution allocation, providers that have already received Provider Relief Fund (PRF) payments will be […]
AAFCPAs Shares Expertise at Providers’ Council Annual Conference
AAFCPAs will present a virtual educational workshop titled Where Do We Go From Here? Planning for an Uncertain Future Moving Forward From COVID-19 at the Providers’ Council 45th Annual Convention & Expo on Thursday, October 29 from 1PM – 2:30PM. Where Do We Go From Here? Planning for an Uncertain Future Moving Forward From COVID-19 COVID-19 […]
HHS Updates Reporting Requirements for Provider Relief Funds
On September 19, 2020, the U.S. Department of Health and Human Services (HHS) issued a Post-Payment Notice of Reporting Requirements (the Notice) relating to General and Targeted Distributions made under the Provider Relief Fund (PRF). This notice updates the initial notice issued on July 20, 2020. There are some significant changes as a result of […]
Why Nonprofits are Outsourcing Accounting
Skilled accounting and finance talent is scarce and in high demand, especially for nonprofits who often struggle with expectations to keep “overhead” low. These labor challenges are national and expected to intensify over time. Knowledge-intensive industries like financial and business services are expected to continue to be hit hard by the talent crunch. Nonprofits also […]
AAFCPAs Celebrates 2020 National Health Center Week
Next week, August 9-15, 2020, is National Health Center Week, and AAFCPAs invites you to join us again this year in celebrating the great work and significant impact of these consumer-driven and patient-centered organizations! This year, our nation’s Community Health Center employees are on the frontlines of COVID-19. Since the pandemic struck, Community Health Centers […]