Changing situations and new legislation are rapidly altering business operations as society shifts to a new normal during the COVID-19 pandemic. Workplaces are also changing drastically as many companies are working from home, necessitating rapid technology improvements.
AAFCPAs has assembled this resource page to keep you up to date, and assist you in navigating in this time of crisis. As a firm we are dedicated to helping you solve business, regulatory, and technological challenges to keep your company operating optimally in the short term and long term.
Key Focus Areas
COVID Loans and Funding
- PPP Flexibility Act Will Extend Covered Period of Loan
- PPP Guidance on Hazard Pay, Bonuses, and Employees Who Decline to Return
- Webinar OnDemand: AAFCPAs’ Guidance on SBA Loan Forgiveness Application
- AAFCPAs Guidance on SBA Loan Forgiveness Application
- Accounting Considerations When Establishing an Emergency Relief Fund
- PPP Safe Harbor Extended to May 18
- SBA FAQ Indicates Good Faith Assumed for PPP Loans Under $2M
- SBA, Treasury Extend Safe Harbor to Return PPP Funds, and New Guidelines for International Businesses
- Questions Businesses Need to Address to Support PPP Loan Certifications
- IRS Issues Guidance on Deductibility of Expenses Covered by PPP Loan
CARES Act
AAFCPAs has formed a Task Force dedicated to studying and advising clients on the business implications of the Coronavirus Aid, Relief and Economic Stimulus (CARES) Act legislation, signed by President Trump on Friday, March 27th, 2020. Our CARES Task Force includes senior leadership and advisors from diverse segments of our organization, bringing the necessary talent together to best advise on the changing dynamics caused by the Coronavirus.
- AAFCPAs Guidance on SBA Loan Forgiveness Application
- IRS Issues Guidance on Deductibility of Expenses Covered by PPP Loan
- New SBA Guidance Requires PPP Funding Recipients to Consider Returning the Funds by May 18
- Businesses May Defer Social Security Tax Up Until PPP Loan is Forgiven
- Paycheck Protection Program Loans: Tracking Costs
- Congress Announces Additional Appropriations for Disaster Loans
- Webinar OnDemand: Business & Individual Tax Planning Guidance Related to COVID-19 & the CARES Act
- SBA Disaster Loan Funds Exhausted
- CARES Act Healthcare Provider Relief Fund
- Federal Reserve Authorizes Main Street Loans for Companies Impacted by COVID-19
OnDemand Webinars
- Tax Planning Guidance: COVID-19 & The CARES Act
- Accounting & Audit Impact of COVID-19
- Guidance on the SBA’s PPP Loan Forgiveness Application
Tax
In the midst of tax season, there are many questions about meeting regulatory requirements while operating under unusual circumstances.
- MA Tax Implications of a Remote Employee Due to COVID-19
- IRS Issues Guidance on Deductibility of Expenses Covered by PPP Loan
- Webinar OnDemand: Business & Individual Tax Planning Guidance Related to COVID-19 & the CARES Act
- IRS Extends More Tax Deadlines for Individuals and Businesses
- MA DOR Makes Official & Clarifies Tax Filing Delay
- Economic Impact Payments: Beware of Schemes
- Individual Tax Provisions of the Federal CARES Act
- Business Tax Provisions of Federal Legislation
- Massachusetts Extends State Income Tax Filing Deadline to July 15
- Tax Relief and Incentives for Affected Cannabis Businesses
View all COVID-19 Tax Alerts and Insights>>
Technology & Operations
How effectively does your organization support remote work? This Coronavirus pandemic is testing many businesses’ ability to remain productive and effective while remote. Many are experiencing difficulty, slowness, or inability to execute critical business processes in this time of social distancing.
Cybersecurity
An ever-present concern for businesses. AAFCPAs would like to remind clients that cyber criminals and other bad actors are often poised to capitalize on a crisis. In this case, cyber criminals and foreign governments are using the Coronavirus (COVID-19) pandemic as a theme to lure individuals into making harmful clicks or actions.
- Overcome Cyber Security Challenges of a Remote Workforce
- Economic Impact Payments: Beware of Schemes
- Cyberattacks, Foreign Disinformation Campaigns Leverage Coronavirus Theme
All COVID-19 Related Alerts & Insights
- Overcome Cyber Security Challenges of a Remote Workforce
- PPP Flexibility Act Will Extend Covered Period of Loan
- Regulatory Alert: Unemployment Scams & Snail Mail Stimulus Payments
- PPP Guidance on Hazard Pay, Bonuses, and Employees Who Decline to Return
- MA Tax Implications of a Remote Employee Due to COVID-19
- Webinar OnDemand: AAFCPAs’ Guidance on SBA Loan Forgiveness Application
- AAFCPAs Guidance on SBA Loan Forgiveness Application
- Accounting Considerations When Establishing an Emergency Relief Fund
- PPP Safe Harbor Extended to May 18
- SBA FAQ Indicates Good Faith Assumed for PPP Loans Under $2M
How AAFCPAs is Operating – What Clients Need to Know
- The Coronavirus outbreak is a human tragedy affecting hundreds of thousands of people. Our thoughts are with all those impacted.
- All AAFCPAs team members have been encouraged to work remotely to slow the spread of the coronavirus. Our Westborough, Wellesley, and Boston offices will only be occupied by critical employees with special responsibilities requiring them to maintain their normal work schedule. This will remain the case until the Centers for Disease Control provide updated guidelines.
- AAFCPAs has invested heavily in technology that allows us to serve you from wherever we are working.
- We are monitoring closely and taking several precautions related to the health, safety and well-being of our clients and employee team members—which is of highest importance to us.
- We are able to meet face-to-face as needed with clients via video conferencing technology. We use a tool that does not require you to download software or an application.
- We have several ways to send you your e-file authorization forms, and to capture your signature digitally.
- Tax documents may be easily transferred digitally.
- Payments to the IRS may be made online.
- AAFCPAs offers easy and secure online payment options available for your convenience.
Related