On September 19, 2020, the Department of Health and Human Services (HHS) released a post-payment notice of reporting requirements aimed at the recipients of the general and targeted distributions of the Provider Relief Fund (PRF) as established in the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Learn moreOn August 18, 2020, the Office of Management and Budget (OMB) released the 2020 OMB Single Audit Compliance Supplement (Supplement).
Learn moreWe have previously provided two updates on the business interruption landscape that has resulted from the COVID-19 pandemic. There were certain regulatory actions proposed several months ago, but those have been tabled or terminated.
Learn moreOn August 27, 2020, the Department of Health and Human Services (HHS) announced the Nursing Home Infection Control targeted distribution.
Learn moreThe GASB recently issued Technical Bulletin No. 2020-1 Accounting and Financial Reporting Issues Related to the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) and Coronavirus Diseases.
Learn moreLate on August 28th, the IRS issued additional guidance regarding the deferral of withholding and payment of the employee share of the Social Security tax as directed by President Trump on August 8th in a memorandum. As a reminder, this memorandum does not change an employee’s underlying tax obligation but rather just defers the payment of this tax obligation.
Learn moreOn August 24, 2020, the Small Business Administration (SBA) published an Interim Final Rule (IFR), governing forgiveness of Paycheck Protection Program (PPP) loans.
Learn moreOn August 14, 2020, a notice detailing the timing of future reporting requirements was released for recipients of payments exceeding $10,000 or more in the aggregate from the Provider Relief Fund (PRF).
Learn moreRecently, the IRS has stopped mailing three types of notices: CP501, CP503 and CP504. These notices typically go to taxpayers who have a balance due on their taxes.
Learn moreOn July 21, 2020, the FBI issued a Private Industry Notification (PIN 20200721-001) describing an industry and academic study performed on a set of self-certified ELDs identifying a number of security vulnerabilities.
Learn moreIn the near future, daily fantasy sports entry fees could be considered wagers and subject to the federal excise tax.
Learn moreOn August 4, 2020, the Small Business Administration (SBA) published 20 new Frequently Asked Questions (FAQs) governing forgiveness of Paycheck Protection Program (PPP) loans.
Learn moreThe Department of Education (ED) released a proposed data collection form for the Higher Education Emergency Relief Fund (HEERF) on July 29, 2020.
Learn moreThis week, Missouri Governor Mike Parson announced the Non-Profit Relief and Recovery Grant program.
Learn moreThe American Institute of Certified Public Accountants (AICPA) recently issued a nonauthoritative document, FAQs – State and Local Government Financial Statement Accounting and Auditing Matters and Auditor Reporting Issues Related to COVID-19, for the use of auditors and preparers of financial statements in accordance with Governmental Accounting Standards issued by the Governmental Accounting Standards Board (GASB).
Learn moreOn July 10, 2020 the US Department of Health and Human Services (HHS) announced that dentists may now apply for the financial assistance through the Enhanced Provider Relief Fund Payment Portal.
Learn moreDue to the impact of the coronavirus (COVID-19) pandemic, the Department of Education extended due dates for certain reports to be submitted or disclosures made available to the public required by institutions of higher education via their Electronic Announcement 2020-07-10.
Learn moreAs the June 30, 2020 deadline for acquiring a Paycheck Protection Program Loan (PPP Loan) approaches, borrowers remain faced with a number of details that may impact PPP Loan forgiveness.
Learn moreOn June 9th, 2020, the US Department of Health and Human Services (HHS) announced an expansion of its Provider Relief Fund.
Learn moreThe IRS recently published Notice 2020-43, which proposes two new methods for reporting partner capital accounts on partnership returns (Form 1065 or Form 8865) and requests comments on the proposed methods.
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