Summary of CARES Act
Attorneys from the Raleigh, NC firm of Smith Anderson have published a high level of summary of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which was signed into law by the President on March 27, 2020.
NASBA Invokes Emergency Testing Period
In anticipation of the reopening of Prometric test centers on April 16, 2020, and in response to the COVID-19 situation, the NASBA/AICPA/Prometric Contract Steering Group has made the decision to invoke an emergency testing period. As part of this procedure, the 20Q2 testing window will be extended from June 10, 2020, to June 30, 2020. As previously…
COVID-19 Update From NCACPA CEO
In a CPA Impact email sent to NCACPA members earlier today, we shared a video of CEO Sharon Bryson providing several updates and clarifications as it relates to COVID-19 relief efforts. . Additionally, our COVID-19 resources page provides more in-depth information and is updated multiple times daily. .
GASB To Consider Postponing Effective Dates of Certain Statements & Implementations Guides
Norwalk, CT, March 26, 2020—The Governmental Accounting Standards Board (GASB) today announced that it added a project to its current technical agenda to consider postponing all Statement and Implementation Guide provisions with an effective date that begins on or after reporting periods beginning after June 15, 2018. As a result of the closure of many…
SEC Provides Deadline Extensions for Public Companies
On Wednesday, March 25, 2020, the Securities and Exchange Commission (SEC) provided deadline extensions for public company filings for anything that was due between March 1 and July 1. Read the press release here.
Families First Act—Dept. of Labor Releases Initial Guidance
The U.S. Department of Labor released its first round of guidance on the Families First Act. The DOL, IRS, and Treasury are working together to create this—and future—guidance. The guidance includes a Fact Sheet for Employees, a Fact Sheet for Employers, and a Questions and Answers document. AICPA’s Tax Advocacy Team continues to work on questions still needing to be…
Stay-at-Home Orders by NC County
We are listing counties that have made stay-at-home orders the week of March 23, 2020 as they are announced. Please visit our COVID-19 resource page to learn more. Visit the COVID-19 Resource Page
NCACPA Asks NASBA for Greater Latitude Surrounding Group Internet-Based Program Requirements
As event facilities and travel restrictions force in-person CPE to be cancelled, postponed, or turned into virtual learning events given the current COVID-19 circumstances, NCACPA is requesting enhanced flexibility from NASBA as relates to group Internet-based learning programs. In a letter dated March 24, 2020, NCACPA respectfully submitted a recommendation to address language in Article…
IRS Addresses COVID-19 FAQs
The IRS just posted FAQs in regards to the tax payment and filing relief announced last week. The AICPA Tax Advocacy Team is currently reviewing the FAQs in order to provide comment as necessary. Please note, the IRS FAQs intro states: Below are answers to frequently asked questions related to the relief provided in the Notice….
