Monthly Archives: April 2020
It seems IRS has been issuing guidance of late at a rapid pace. The PPP loan program has attracted inordinate media attention. The goal of keeping American payrolls up and running has now been funded with two-thirds of a trillion dollars. Much has been written about viable, solvent, and even deep-pocketed entities collecting PPP dough […]
With the Coronavirus Aid, Relief, and Economic Security (CARES) Act enacted into law, Treasury is issuing clarifying guidance at a fast and furious pace. Many practitioners are aware that the Setting Every Community Up for Retirement Enhancement (SECURE) Act, with a few exceptions, eliminated the option for beneficiaries to stretch distributions over their life expectancies […]
Accounting for COVID-19 Impacts: A Framework for Considering the Financial Accounting and Reporting Implications of the COVID-19 Pandemic
By Richard Daisley, CPA
There are many implications of the current COVID-19 pandemic. First and foremost is the consideration of the health and well-being of those impacted by the pandemic, including those who have contracted the disease, people caring for those who have contracted the disease and the healthcare providers and personnel in related fields who are treating these […]
Perhaps no single topic has dominated the tax news of late more than the government’s extensive efforts to provide relief to small businesses devastated by the COVID-19 pandemic. The Paycheck Protection Program (PPP) provides up to 349 billion dollars to small businesses (with up to 500 employees) to primarily pay up to eight weeks of […]
