ONLINE CPE REGISTRATION UPDATE
As NCACPA completes its system migration, registration for online CPE courses will temporarily close at 12:00 a.m. on the day prior to each program to allow for accurate attendance and CPE processing. We appreciate your understanding and will share updates once this step is no longer necessary. Please contact Solutions Support at 800-469-1352 with questions.
House Bill 1039: COVID-19 Respond Act – Economic Support As a result of our constituents’ advocacy efforts, and that of your association, Representatives Howard (R – Davie), Saine (R – Lincoln) and Wray (D – Northampton) filed House Bill 1039: COVID-19 Response Act – Economic Support this morning, which included the following tax provisions noted below, as well…
Yesterday afternoon, Governor Cooper announced Executive Order 135, which extends North Carolina’s current stay-at-home order through Friday, May 8. Businesses deemed essential under the previous order can continue to operate. However, restrictions on restaurants and other close-contact businesses remain in effect. During a press conference, the Governor also laid out his three-phase plan for…
NCACPA led and championed many COVID-19 relief measures at both the state and federal level. On the state level, we were pleased the NC Department of Revenue honored our request on behalf of taxpayers and the state of North Carolina to extend the filing and payment deadline to July 15. Additionally, NCACPA fought for accounting…
Late yesterday, the SBA issued additional guidance for the Paycheck Protection Program, and it specifically addresses the often-asked question of how self-employed and partner income should be included in the loan application. The new guidance discusses loan amounts and loan forgiveness calculations for individuals with self-employment income (with and without employees). Additionally, the guidance clarifies that the self-employment income of…
The AICPA has released new guidance (as of April 9, 2020) regarding CPAs acting as agents in light of the Paycheck Protection Program. We will continue sharing any additional new resources as they become available, and closely monitor developments.
NASBA, AICPA, Prometric and the Boards of Accountancy (Boards) continue to monitor the COVID-19 crisis and have taken the following actions. After closely monitoring the ever-changing events associated with the spread of the COVID-19 virus, including ordinances from state and local governments plus recommendations from the CDC (Centers for Disease Control) and WHO (World Health…
We just received this memo from the Collection Manager for Wake County, indicating written requests for waivers of the Late Listing Penalty may be submitted for consideration.
Yesterday, Treasury Secretary Mnuchin received this letter from Barry Melancon, calling for broad filing season relief. As you’ll see in the headline of the corresponding press release, the letter states that “…it’s impractical, if not impossible, for taxpayers and their advisors to continue business as usual…” The AICPA letter to the Treasury Secretary calls for extensions for all…
The Small Business Association released FAQs – you can find information in this Journal of Accountancy article, and at the SBA PPP FAQ link. The FAQs align with many of the recommendations the AICPA made, such as: Using the Gross Payroll approach for both loan application and forgiveness – the guidance also clarifies that employer FICA…