Coronavirus (COVID-19)

Paycheck Protection Program (PPP), CARES Act & Business Guidance

Last Updated 9/15/20, 4:41 p.m.

The PICPA has been working daily to address the impact of the coronavirus outbreak. Check back frequently for updates.

Discussion on Pennsylvania Department of Revenue Reopening
(July 9, 2020)

Download Q&A Transcript

More from the Philadelphia DOR, Pa. DOR, and Pa. DOL

COVID-19 Recovery and the Philadelphia DOR: Live Discussion with Frank Breslin
July 28, 2020

COVID-19 and Pennsylvania’s Pandemic Unemployment Assistance Webinar
May 26, 2020

COVID-19 and Pa. Taxes: Discussion with the Pennsylvania DOR - Download Q&A Transcript
March 31, 2020

Disclaimer: All information in these recordings was current as of the time of the live webinars. The information shared in the webinar recordings is subject to change.

Tips on Reopening Offices Responsibly

Office Work Faces a New Normal - CPA Now
Office Opening Considerations Post-COVID - CPA Conversations
Return to Work Action Items - Arthur J. Gallagher & Co.
Return to Workplace Guide - Arthur J. Gallagher & Co.
Employer Considerations for Returning to Work - Arthur J. Gallagher & Co.
A Guide to Reopening Your Business - U.S. Chamber of Commerce

Paycheck Protection Program

The Paycheck Protection Program (PPP) was designed to help businesses keep their workforce employed during the COVID-19 crisis. The PPP closed on Aug. 8, 2020. As such, the Small Business Administration is no longer accepting PPP applications from participating lenders.

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More on the CARES Act

The CARES Act was signed into federal law on March 27, 2020, and provides emergency relief to workers, families, small businesses, and distressed industries.

Small Business Owner's Guide
CARES Act: Employee Retention Credit FAQs
CARES Act Analysis - Journal of Accountancy

Families First Coronavirus Response Act

This was signed into federal law on March 18, 2020, requires certain employers to provide employees with paid sick leave or expanded family and medical leave for specified reasons related to COVID-19.

Families First Coronavirus Response Act
Analysis of Act Signed into Law - Gallagher Affinity
- Notice Requirement and Non-Enforcement Period
- State Paid Leave and Disability Law
Compliance Resources - Gallagher Affinity
Common Errors to Avoid when Filing Form 7200
IRS Releases Draft Form 7200 and Draft Instructions for IRS Form 7200
IRS Guidance - Gallagher Affinity
Paid Leave Synopsis of the FFCRA - NeoSystems
AICPA Requests Extension for Rev. Proc. 2020-23 for amended partnership returns

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Peer Review & Audits

NEW! Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842)
Effective Dates for Certain Entities
Six-Month Delay Granted for Peer Reviews
ASB delays effective dates of SASs No. 134–140
Statement from FASB Chairman on Accounting Relief During Pandemic - FASB
- Topic 842 and Topic 840: Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic
GASB Proposes to Postpone Effective Dates of Certain Pronouncements - GASB
Coronavirus Impact on Peer Review - AICPA Peer Review Alert
Financial Statement Audit Requirements and the Impact of COVID-19 - CPA Now
Coronavirus (COVID-19) audit and accounting resources - AICPA
Consequences of COVID-19 Financial Reporting Considerations - AICPA Center for Plain English Accounting
OMB Provides Broad COVID-19 Single Audit Extension - AICPA’s Governmental Audit Quality Center (GAQC)
Adjustments to Audit Inspections - PCAOB
Accounting and Reporting Considerations - EY

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Business Guidance

Pa. Unemployment Compensation Resources
- Pa. Adds 13 More Weeks of Regular Unemployment Compensation
- The Pennsylvania Department of Labor and Industry Provides Update on Appeal Process for Certain UC Claimants
- Portal Open: Pandemic Unemployment Assistance (PAU) for individuals not eligible for regular unemployment
- Pandemic Unemployment Assistance (PUA) FAQs - Office of Unemployment Compensation
- How to File an Initial Claim - Office of Unemployment Compensation
- Check the Status of Your Application - Office of Unemployment Compensation
- FAQs for Employers - Office of Unemployment Compensation
- FAQs for Employees - Office of Unemployment Compensation
U.S. Department of Labor Coronavirus Resources

Business Loans
Fraud Prevention
- How CPAs can fight fraud in the COVID-19 pandemic - Journal of Accountancy

Charitable Organizations and Nonprofits

Closure of Nonessential Businesses

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Tips on Working Remotely

Recommendations for Small Firm and Small Business Operations - CPA Now
8 Ways to Manage Your Team While Social Distancing - Harvard Business Review
5 Essential Coronavirus Work from Home Tech Tips - Forbes
Tech Tips for Firms Working Remotely - Journal of Accountancy
How Working Parents Can Prepare for Coronavirus Closures - Harvard Business Review
What It Takes to Run a Great Virtual Meeting - Harvard Business Review
Essential Habits for Working Remotely - AICPA's PCPS

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SEC

SEC Provides Conditional Relief to Companies Affected by Coronavirus
Coronavirus Risk Disclosures - Thomson Reuters

Health and Travel

Accounting Marketing During the COVID-19 Pandemic

The marketing departments at CPA firms have been highly involved in helping raise the profile of accounting during the pandemic. In fact, marketers are making the case that CPAs are needed now more than ever.
Full story
How the COVID-19 Pandemic Impacts Pennsylvania Tax Lien Sales

The tax sale process in Pennsylvania is a complicated venture normally; with COVID-19 added stress and uncertainties surround the process. Adapting to the changing tax sale landscape will be necessary since the shake-up will likely be felt for years to come.
Full story

Pennsylvania Institute Of Certified Public Accountants

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