Taxpayers need clarity on coordination of ERC and PPP loans
Jan 19, 2021
Journal of Accountancy
COVID-19: Tax
The COVID-19 pandemic has impacted all aspects of our lives and created many uncertainties and challenges. The AICPA Tax Section is here to help and has developed resources to help you get through this critically important time.
Tax Subtopics
- C Corporation Income Taxation
- COVID-19: Tax
- Employee Benefits
- Individual Income Taxation
- International Tax
- IRS Practice & Procedure
- Partnership & LLC Taxation
- Policy & Regulatory Change
- Practice Management & Professional Standards
- S Corporation Income Taxation
- State & Local Tax (SALT)
- Tax Accounting
- Taxation of Estates & Trusts
- Tax-Exempt Organizations
- Tax Season
COVID-19: Tax Resources
Tax Section
The go-to source for tax practitioners. Access all the AICPA’s Tax Section content on AICPA.org.
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News
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CPE & Learning
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Professional Insights
- Client Letters for Year-End Coronavirus Relief Act
- COVID-19 Loan Application Assistance Service Engagement Letter
- PPP Sample Engagement Letters
Client-facing tools
- Summary of Year-End Coronavirus Relief Act (signed into law Dec. 27, 2020)
- CARES Act and Families First Coronavirus Response Act Summary
- Comparison of COVID-19 Business Relief Options Chart
- Coronavirus and Tax Impacts FAQs
- State Tax Filing Relief Guidance
Practitioner guidance
- State tax withholding issues driven by COVID-19 | Tax Section Odyssey
- Payroll tax credits available due to COVID-19 relief legislation | Tax Section Odyssey
Videos
- H.R. 133: Consolidated Appropriations Act, 2021
- H.R. 6201: Families First Coronavirus Response Act
- H.R. 748: Coronavirus Aid, Relief and Economic Security (CARES) Act
- H.R. 7010: Paycheck Protection Program Flexibility Act
Legislation
- Revenue Procedure 2021-09: Safe Harbor for Certain Skilled Nursing Facilities
- Notice 2021-03: Extension of Temporary Relief from the Physical Presence Requirement for Spousal Consents Under Qualified Retirement Plans
- Notice 2020-82: Implementation of the CARES Act Extended Jan. 1, 2021 Due Date for Contributions to Defined Benefit Plans
- Notice 2020-66: Guidance Regarding the Premium Tax Credit and Medicaid Coverage of COVID-19 Testing and Diagnostic Services
- See more IRS notices and revenue procedures.
IRS Notices and Revenue Procedures
- Carryback of NOLs by C Corporations to Taxable Years in which the Alternative Minimum Tax Applies
- Carryback of NOLs by certain exempt organizations
- Coronavirus-Related Relief for Retirement Plans and IRAs Questions and Answers
- COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses
- COVID-19 Relief for Estate and Gift
- See more IRS COVID-19 FAQs.
IRS FAQS
- Cross-Border Tax Guidance Related to Travel Disruptions Arising from the COVID-19 Emergency
- IRS Coronavirus and Economic Payments: Resources and Guidance
- IRS Economic Impact Payment Information Center
- IRS Operations During COVID-19: Mission-Critical Functions Continue
- IRS People First Initiative: COVID-19 Effort Temporarily Adjusts and Suspends Key Compliance Program
- Temporary Procedures to Fax Certain Forms 1139 and 1045 due to COVID-19
Other IRS guidance
- COVID-19 and the Family and Medical Leave Act Questions and Answers
- Temporary Rule: Paid Leave Under the Families First Coronavirus Response Act
Department of Labor
- Business Loan Program Temporary Changes; Paycheck Protection Program
- Coronavirus Small Business Guidance and Loan Resources
- Paycheck Protection Program FAQs
Small Business Administration
- Economic Impact Payments for Social Security and SSI Recipients – Steps to Take and Schedule of Payments
Social Security Administration