Coronavirus (COVID-19)

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

The PICPA works daily to gather critical information on the coronavirus outbreak and its repercussions. Check back frequently for updates.

Paycheck Protection Program

A new COVID-19 relief bill - the American Rescue Plan Act - was signed into law on March 11, 2021, and the PICPA continues to collect resources to help you serve your clients, firms, and businesses. - March 25, 2021

NEW! PPP Small Business Loan Program Deadline Extended to May 31 via H.R. 1799, the PPP Extension Act of 2021
IRS Resources:
- IRS Guidance on the Employee Retention Credit under Section 2301 of the Coronavirus Aid, Relief, and Economic Security Act - March 2, 2021
- IRS Issues Guidance on how PPP borrowers should treat forgivable costs (Revenue Ruling 2020-21) - Nov. 19, 2020
- IRS Rev. Proc. 202-52 provides safe harbor for taxpayers - Nov. 19, 2020

Small Business Administration (SBA) Resources:
- How to Calculate First Draw PPP Loan Amounts - March 12, 2021
- Updated PPP Loan Forgiveness Applications and Rules Unveiled - SBA - Jan. 20, 2021
- PPP Borrower Resubmissions of Loan Forgiveness Applications Using Form 3508S, Lender Notice Responsibilities to PPP Borrowers, and Offset of Remittances to Lender for Lender Debts - Jan. 15, 2021
- Paycheck Protection Program Excess Loan Amount Errors - Jan. 15, 2021
- Paycheck Protection Program as Amended by the Economic Aid Act - Interim Final Rule - Jan. 6, 2021
- Paycheck Protection Program Second Draw Loans - Interim Final Rule - Jan. 6, 2021
Town Halls and Podcasts:
- PICPA-AICPA - PPP 2 - How CPAs Can Support Their Clients - Jan. 13, 2021
- PICPA - New 2020 Stimulus Bill: Tax Provisions You Need to Know Now Webinar - Jan. 2021
  - Offered throughout spring 2021
- Exploring the Latest Coronavirus Financial Relief Package and Its Effect on CPAs - CPA Conversations - Dec. 23, 2020

AICPA Resources:
- NEW! AICPA Comment Letter Regarding PPP Passthrough Basis Issues to IRS - March 15, 2021
- NEW! Summary of American Rescue Plan Act - March 12, 2021
- AICPA Urges the Small Business Administration to Address Small Businesses’ Significant Challenges with PPP Loan Application System - Feb. 3, 2021
- Top FAQs from AICPA Town Hall - Jan. 7, 2021
- The NEW Employee Retention Credit: More for Eligible Employers
- Summary of Paycheck Protection Program (PPP) after enactment of the Economic Aid to Hard-Hit Small Businesses, Nonprofits and Venues Act - Jan. 10, 2021
- Summary of Year-End Coronavirus Relief Act - Jan. 5, 2021
- SBA Paycheck Protection Program (PPP) FAQs - Dec. 3, 2020
- COVID-19 IRS Penalty Abatement Template - Oct. 28, 2020
- PPP Resources for CPAs

Loans Forgiven under the PPP Now Exempt from State Income Tax

Peter Calcara, PICPA's vice president of government relations, discusses Act 1 of 2021, a PICPA-supported measure that allows loans forgiven under the federal PPP to be exempt from state income tax (PA PIT).

AICPA Special Edition Town Hall
(Dec. 23, 2020)

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

Discussion on Pennsylvania Department of Revenue Reopening
July 9, 2020
Download Q&A Transcript

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

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.

Division-by-Division Summary of COVID-19 Relief H.R. 133 Provisions - Prepared by the Democratic Staff of the U.S. House Committee on Appropriations - January 2021
Q&A: Economic Impact Payments - Prepared by the Republican Staff of the U.S. House Ways and Means Committee - Dec. 21, 2020

Tips on Reopening Offices Responsibly

Employer COVID-19 Vaccine Considerations - Arthur J. Gallagher & Co. - Dec. 18, 2020
EEOC Releases Guidance on COVID-19 Vaccinations in the Workplace - Goldberg Segalla - Dec. 17, 2020

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

Join

Grow Your Career

Attend CPE & Events

Keep Informed

Advocate

Coronavirus (COVID-19)

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

Paycheck Protection Program

Loans Forgiven under the PPP Now Exempt from State Income Tax

AICPA Special Edition Town Hall
(Dec. 23, 2020)

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

Tips on Reopening Offices Responsibly

More on the CARES Act

Families First Coronavirus Response Act

Peer Review & Audits

Business Guidance

SEC

Health and Travel

Legal Issues with Mandating COVID-19 Vaccination in the Workplace

Philadelphia Taxation of COVID-19 Grants for Small Businesses

Join

Grow Your Career

Attend CPE & Events

Keep Informed

Advocate

Coronavirus (COVID-19)

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

Paycheck Protection Program

Loans Forgiven under the PPP Now Exempt from State Income Tax

AICPA Special Edition Town Hall (Dec. 23, 2020)

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

Tips on Reopening Offices Responsibly

More on the CARES Act

Families First Coronavirus Response Act

Peer Review & Audits

Business Guidance

SEC

Health and Travel

Legal Issues with Mandating COVID-19 Vaccination in the Workplace

Philadelphia Taxation of COVID-19 Grants for Small Businesses

AICPA Special Edition Town Hall
(Dec. 23, 2020)