Keep up with all SCACPA updates specific to the COVID-19 situation at www.scacpa.org/covid-19-response-and-resources
Here are new and updated documents and links to help those with CARES Act and Paycheck Protection Program issues.
[NEW] Professional Ethics Executive Committee (PEEC) update: Impact of accepting PPP agent fees on independence (April 13, 2020)
PEEC has determined that “members may advise and assist their attest clients in understanding the information required to be submitted and in the determination of amounts to be included on the application, provided the member does not prepare or sign the application form itself or perform other management responsibilities on behalf of the applicant.”
[UPDATED] AICPA recommendations for PPP lender documents (April 10, 2020)
This two-page document covers four documentation areas for employer applicants (Federal payroll tax reports; compensation; group health care benefits and retirement plan benefits) as well as directions for Average Monthly Payroll cost calculations.
[UPDATED] AICPA Members Can Call/Chat with Questions (the chat function is usually the quicker option)
- AICPA members can use the AICPA chat feature on aicpa.org/covid19tax, or AICPA members can email email@example.com with tax questions and firstname.lastname@example.org for PPP questions
- Members can call the AICPA’s main Service Center number (888.777.7077) and select option “zero” for the CARES hotline.
- Here is the short URL for general help: aicpa.org/help