covid
Cyber Actors Target K-12 Distance Learning
AAFCPAs would like to make education clients aware that the Federal Bureau of Investigation (FBI), the Cybersecurity and Infrastructure Security Agency (CISA), and the Multi-State Information Sharing and Analysis Center (MS-ISAC) have assessed that malicious cyber actors are targeting kindergarten through twelfth grade (K-12) educational institutions, leading to ransomware attacks, the theft of data, and […]
Forbes 2021 Best Tax & Accounting Firms
Need business advice? Call your CPA firm. “This year was the perfect case study for why companies should consider leaning on their CPAs as key advisors,” says Carla McCall, managing partner with regional powerhouse AAFCPAs in Westborough, Massachusetts.
ESSER Funds May Subject Charter School to Federal Single Audit
In response to the COVID-19 pandemic, federal funding has been available to charter schools through the Massachusetts Department of Elementary and Secondary Education (DESE) under the Coronavirus Aid, Relief and Economic Security (CARES) Act. The most significant of this funding is the Elementary and Secondary School Emergency Relief (ESSER) funds. While these funds are and […]
SBA Releases PPP Loan Necessity Questionnaires
AAFCPAs reminds clients, part of qualifying for the U.S. Small Business Administration’s (SBA) Paycheck Protection Program (PPP) loan meant certifying that the “current economic uncertainty makes this loan request necessary to support the ongoing operations of the Applicant.” This certification was required by an applicant to be made in good faith when pursuing this loan […]
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 […]
Did Your Accounting Department Thrive While Remote?
Many finance departments were put to the test when forced to transition to a remote workforce in response to the Coronavirus pandemic. Those that had already moved processes and systems to the cloud were able to adapt quickly. Those that outsourced their finance function to AAFCPAs’ Managed Accounting Solutions (MAS) group did not skip a […]
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 […]
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 […]