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Massachusetts Emergency Paid Leave Act Updates
AAFCPAs would like to remind clients that in September of 2021, the state of Massachusetts extended their Emergency Paid Sick Leave Act, requiring employers to…
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Legislative & Regulatory Updates
OSD Clarifies UFR Reporting of COVID-Related Funds
AAFCPAs recently received clarification for UFR filers related to reporting of certain COVID-related funding. (As a reminder, due to COVID-19, the Operational Service Division (OSD)…
Legislative & Regulatory Updates
PPP Payment Due Dates Approaching
AAFCPAs reminds clients who received Paycheck Protection Program (PPP) loans of the payment due dates. PPP borrowers are eligible to apply for forgiveness at any…
Tax Planning & Compliance
Tax Planning Guides for Businesses & Individuals (2021-2022)
When considering your optimal tax planning & compliance strategy, business & individual tax payers must account for all current and impending tax code changes. This…
Internal Revenue Service Alerts (IRS)
Treasury, IRS guidance on reporting qualified sick & family leave wages
AAFCPAs would like make clients aware that the Treasury Department and the IRS issued guidance to employers about reporting on Form W-2 the amount of…
Internal Revenue Service Alerts (IRS)
Treasury, IRS provide gross receipts safe harbor for employers claiming the Employee Retention Credit
AAFCPAs would like to make clients aware that the Treasury and the IRS recently issued a safe harbor allowing employers to exclude certain items from…
Internal Revenue Service Alerts (IRS)
Treasury, IRS Provide Additional Guidance on Employee Retention Credit, Including for the Third and Fourth Quarters of 2021
AAFCPAs would like to make clients aware that the Treasury Department and the Internal Revenue Service issued further guidance on the employee retention credit, including…
Internal Revenue Service Alerts (IRS)
Paid leave credit available for providing leave to employees caring for individuals obtaining or recovering from a COVID-19 immunization
AAFCPAs would like to make clients aware, the IRS updated frequently asked questions (FAQs) on the paid sick and family leave tax credits under the…
Legislative & Regulatory Updates
SBA Requests to Withdraw Requirement for Loan Necessity Questionnaires
In a letter submitted to the Office of Management and Budget (OMB) on June 21, 2021, the U.S. Small Business Administration (SBA) requested to discontinue…
