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The IRS will host a teleconference for tax professionals on Thursday, May 7, to share information about the coronavirus tax relief and to hear questions and concerns.

The AICPA plans to seek legislative clarification regarding Notice 2020-32, which currently denies deductions of expenses forgiven under the Paycheck Protection Program.

Due to the COVID-19 pandemic, the IRS is temporarily allowing the electronic submission of requests for letter rulings, closing agreements, determination letters and more.

Employers who have their Paycheck Protection Program loans forgiven are ineligible for tax deductions on expenses paid for through the loan, the IRS recently announced.

Business interruption insurance may provide coverage for losses related to COVID-19 under the right conditions.

The IRS has updated its FAQs document that provides information about the Employee Retention Credit under the Coronavirus Aid, Relief and Economic Security Act.

The AICPA sent recommendations to the U.S. Small Business Administration for helping small businesses calculate loan forgiveness under the Paycheck Protection Program.

The smallest lenders and their small business clients have an exclusive opportunity today to submit applications for PPP loans to the U.S. Small Business Administration.

The AICPA has recommended the creation of a federally backed lending facility that would provide loans to small businesses that pledge their future receivables.

Accounting firms that had cloud-based technology in place prior to the COVID-19 pandemic fared far better than firms that did not, according to a new survey.