Summing It Up

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Topic: Covid 19

SOC Reporting and COVID-19 – The Four Things Your Organization Needs to Consider
By Jonathan Holmes on June 1, 2020

Because of COVID-19 many businesses have been forced to change how they operate. More employees than ever before are working remotely and whether you have realized it or not, your control...

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Economic Impact Payments: Why Haven’t I Received My Stimulus Payment Yet?
By Caitlyn Kilkenny, CPA on May 28, 2020

Where is my economic impact payment? Payments started going out April 10, 2020, but many Americans still have not received their payments. The government is making these payments in steps,...

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New York Forward Loan Fund Provides Additional Support for Small Businesses and Nonprofits
By Jonathan Tretter, CPA on May 27, 2020

New York State in conjunction with Empire State Development and Homes and Community Renewal recently announced a new economic loan recovery program designed for targeted small businesses,...

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FASB Delays Revenue Recognition and Lease Standards
By Ron Soluri Jr., CPA on May 21, 2020

In response to the COVID-19 pandemic and the difficulties organizations are experiencing, the FASB voted to defer implementation dates providing organizations additional time to comply...

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SBA Forgiveness Application—What It Gave to Us, and More Importantly, What It Has Not Yet Given to Us
By Richard J. Wright, Jr. CPA on May 19, 2020

Late on Friday, May 15th, the SBA released the PPP Loan Forgiveness application. While this application has answered some of the questions in connection with the CARES Act and related SBA...

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U.S. Treasury Changes Position on Qualifying Wages Under Employee Retention Credit
By Freed Maxick on May 18, 2020

In a decision announced on its website, the U.S. Treasury has amended its position on the Employee Retention Credit (ERC)—specifically, its position on qualifying wages. Under this new...

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