As the coronavirus disease (COVID-19) outbreak continues to impact people around the world, we’ve received many questions and concerns about how to navigate these uncertain times as a tax and accounting practice.

To help, we’ve created this resource library that you can use to manage your business and your clients during this time.

updated as of 2/10/2021

Whether you’re a solopreneur tax preparer, an Enrolled Agent with a few employees, a more established CPA firm, or anything in between, CountingWorks PRO will be here to support you as the impacts of this pandemic continue. We are continually monitoring the situation and will update this post as new resources become available, so be sure to bookmark this page and follow us on social media to get all the updates.

PROFESSIONAL EDUCATION

HELPFUL COUNTINGWORKS PRO FEATURES

GOVERNMENT RESOURCES

VIDEOS

SOCIAL MEDIA

FOR THE TAX INDUSTRY

BLOGS

INDUSTRY NEWS

FOR SMALL BUSINESSES

RESOURCE DOWNLOADS

• Big Book of Taxes 365: Part quick reference guide, part tax research platform, the Big Book of Taxes 365 was designed for the tax professional on a limited research budget, though powerful enough to add to any tax research library. This 1,250+ page online research tool is also being continually updated with COVID-19 relevant tax information.
• CPE Webcast: COVID Tax Relief Act (COVIDTRA) Webcast - 1 hour CPE
• ClientWhys TaxCPE Tax Update & Review Virtual Seminar: Stay on the frontlines of the economic recovery with this 16-hour virtual tax event, taking place in various sessions from NOW until - January 21, 2021. Included with registration: Q & A monitored by team of tax subject experts and 1,250+ page Big Book of Taxes PDF edition. View the agenda and register here.
• (JUST ADDED) ClientWhys TaxCPE Tax Update & Review Virtual Seminar (On-Demand): Stay on the frontlines of the economic recovery with this 16-hour recorded tax event. Included with purchase: Q & A monitored by a team of tax subject experts and 1,250+ page Big Book of Taxes PDF edition. View the agenda and purchase here.
• CPE Webcast: PPP Loans & Forgiveness Tax Season Challenges - 2 Hours CPE
• CPE Self-Study: COVID-19 Tax Related Issues - 2 Hours CPE
• CPE Webcast: COVID-19 Tax-Related Issues - 2 Hours CPE

• Summary of the Paycheck Protection Program Flexibility Act of 2020
• Webinar: Adapting to Client Engagements During the Coronavirus Emergency
  Learn our strategy in helping guide your practice through the Coronavirus disease (COVID-19) emergency. We also discuss our coronavirus outbreak update template, to give your clients the information they need to work with you during these uncertain times.

• QuickHits: Setting up an all-digital workflow
• QuickHits: How to set up remote tax and accounting offices in a hurry
• QuickHits: In-person client engagement best practices during COVID-19

For tax and accounting professionals:

• (NEW) How to Respond to Online Tax & Accounting Leads
• (NEW) Is Your Tax and Accounting Practice Missing Out on Referrals?
• (NEW) Will COVID-19 Be the End of the In-Person Tax Interview?
• (NEW) How CountingWorks PRO Covers Nearly 100% of the Moz Top Local Search Ranking Factors
• Local SEO: What Factors Affect Your Local Search Rankings?
• How Leading Tax and Accounting Professionals Are Transforming Their Practices With Virtual Services
• How to Grow Your Tax and Accounting Firm by Focusing on a Niche or Speciality
• How Digital-Centric Clients Find and Select a Tax and Accounting Pro

For taxpayers, small business owners, and other stakeholders:

• (NEW) Interaction between PPP Loans and the Employee Retention Credit
• (NEW) Video: Biden's COVID Relief & Tax Plan
• (NEW) Video: COVID Tax Relief Act Updates
• (NEW) 4 Questions Business Owners Should Consider During the 2020 Tax Season
• (NEW) How Biden's Rescue Plan Might Impact Your Taxes
• (NEW) Video: Second Round of PPP Loans Is Here
• (NEW) Congress Has Authorized a Second Round of PPP Loans
• (NEW) Charitable Contributions Deduction Liberalized for 2021
• (NEW) Video: How to Address Rising Tax Problems During COVID-19
• (NEW) Finally, The COVID Relief Package Is Law
• (NEW) How to Address Rising Tax Problems During COVID-19
• (NEW) Video: COVID Tax Relief Act Is Coming
• Help Is on the Way - Emergency Coronavirus Relief Agreement Reached
• Didn't Get Your Economic Impact Payment? You Can Claim It on Your 2020 Return.
• Video: SBA Questioning PPP Borrowers with Loans Over $2 Million
• SBA Questioning PPP Borrowers with Loans Over $2 Million
• Beware of New Text Scam Related to Stimulus Payments
• The SBA Issues a Simplified PPP Loan-Forgiveness Application
• Still Waiting for the IRS to Cash Your Check?
• October’s Extended Due Date Is Fast Approaching
• Do You Know Unemployment Benefits Are Taxable?
• If You Are Facing Foreclosure, Here Are Tax Issues You Will ConfrontIf You Are Facing Foreclosure, Here Are Tax Issues You Will Confront
• Is the Temporary Deferral of Employee Payroll Tax Worth It?
• How States Are Reshaping Nexus Laws for Remote Employees Due to COVID-19
• Individuals Have a New Opportunity to Receive $500 Economic Impact Payments for Their Children
• Wealth Transition and Succession Planning: Best Practices for Businesses During COVID-19
• What President Trump's Executive Order Means for You
• IRS Cancels Stimulus Checks Issued to Decedents
• How to Protect Yourself Against Coronavirus-Related Fraud
• Video: How to Make Your PPP Loan Forgivable
• Charity Volunteer Tax Breaks
• Big Tax Breaks for Hiring Your Children in the Family Business
• What Led to Congress Extending the Paycheck Protection Program?
• Loan Application Period for the Paycheck Protection Program Extended
• 7 Tips To Keep Your Business Afloat During Covid-19
• IRS Provides Additional 2020 RMD Rollover Relief
• Don't Throw Away That Notice 1444
• Video: Watch Out: The Treasury is Sending Some Stimulus Payments by Debit Card
• The July 15th Deadline Is Fast Approaching, and It Isn’t Just for the 2019 Individual Tax Return
• Post-Pandemic Trends Shifting the Economy for Small Businesses Everywhere

1. (NEW) FREE Download — Recovery Rebate Credit: As we get into tax season, it appears an issue that should be simple will become a trouble maker. In order to properly prepare a client’s tax return, the amount of the client’s two Economic Impact Payments, EIP1 and EIP2, must be known. These two payments are advance payments of the Recovery Rebate Credit(RRC).
2. (NEW) FREE Download — Interaction Between PPP Loans and the Employee Retention Credit
3. (NEW) FREE Download — PPP Loan Second Draw - SBA IFR.: The last day to apply for and receive a PPP loan is March 31, 2021. This white paper is a summary of the SBA Interim Final Rule related to the PPP Loan Second Draw.
4. (NEW) FREE Guide – Applying for PPP Loan Forgiveness: Need help guiding your clients through the PPP forgiveness process? Our experts at TaxCPE converted the SBA’s very complicated instructions and side computations into a series of worksheets that make completing the SBA applications (Form 3508EZ and Form 3508) considerably easier.
5. (NEW) FREE White Paper – California Proposition 19: In November 2020, California voters – by a narrow margin of 51.1% – passed Proposition 19, which makes changes to property tax benefits. Here’s a breakdown of the bright and dark sides.
6. COVID-19 Tax-Related White Papers
   With the constant changes in legislation and rules governing our industry, it can be hard to keep up. That’s why the tax experts at TaxCPE & ClientWhys put together 19 free white papers on the most important tax issues during COVID-19.
   • The list also includes helpful worksheets on topics like PPP forgiveness calculations so you can best serve your clients during this time.
7. Email Template: Coronavirus Outbreak Update
   We know every practice is different and is setting up its unique office policies to meet the challenges ahead. To save you time, we have developed a free email message that can be edited and used as a template to establish your policy.
8. Email Templates: “What to say when…” Practice Updates During COVID-19
   This blog offers five email templates you can directly copy and paste to use for your own client communication during the coronavirus pandemic. Each one covers a common update you may be needing to send your clients regarding changes to your practice during this time.

If you’re a CountingWorks PRO client, our digital offerings will be especially vital for your practice as you aim to use virtual client engagement wherever possible. Not a client yet? Talk to us here. Below are some of the most helpful features and links to training videos for your client portal:

• Contactless HD video appointments with TeleAccountant™
• Client portal
• Secure file sharing
• E-Sign
• KBA compliance
• Tax Organizers & Digital Workflows
• Contact management
• Email messaging communication tools
• 24/7 support and help center
• Tax & accounting PDF, video and article library
• Expert-written COVID-19 content for your blog

You can also learn more about each of these features more in-depth on our blog.

In order to best serve your tax clients during what must be one of the most unconventional tax seasons in history, make sure you’re staying up to date on the latest info from the IRS and other sources.

1. IRS
   • Get My Payment portal for stimulus payments 
             Note: A Spanish version of Get My Payment is here.
2. IRS Newsroom
   
3. News Releases & Statements:
   • (NEW) February 8, 2021: New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA
   • (NEW) February 4, 2021: Educators can now deduct out-of-pocket expenses for COVID-19 protective items
   • (NEW) January 29, 2021: IRS updates FAQs on paid sick leave credit and family leave credit
   • (NEW) January 28, 2021: IRS offers guidance to taxpayers on identity theft involving unemployment benefits
   • (NEW) January 27, 2021: Important reminders before filing 2020 tax returns
   • (NEW) January 26, 2021: New law extends COVID tax credit for employers who keep workers on payroll
   • (NEW) January 19, 2021: Employers can withhold, make payments of deferred Social Security taxes from 2020
   • (NEW) January 15, 2021: 2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic
   • (NEW) January 15, 2021: IRS Free File available today; claim Recovery Rebate Credit and other tax credits
   • (NEW) January 12, 2021: IRS ready for the upcoming tax season; last-minute changes to tax laws included in IRS forms and instructions
   • January 7, 2021: Treasury issues millions of second Economic Impact Payments by debit card
   • January 6, 2021: Eligible Paycheck Protection Program expenses now deductible
   • January 4, 2021: Economic Impact Payments on their way, visit IRS.gov instead of calling
   • December 29, 2020: Treasury and IRS begin delivering second round of Economic Impact Payments to millions of Americans
   • November 9, 2020: IRS reminder to non-filers: Nov. 10 is ‘National EIP Registration Day;’ Community partners can help people sign up for Economic Impact Payment
   • November 5, 2020: Many college students may still qualify for an Economic Impact Payment; review the guidelines and register by Nov. 21 at IRS.gov
   • November 4, 2020: Security Summit partners warn taxpayers of new COVID-related text scam
   • November 2, 2020: IRS makes it easier to set up payment agreements; offers other relief to taxpayers struggling with tax debts
   • October 26, 2020: IRS provides tax inflation adjustments for tax year 2021
   • October 7, 2020: October 15 deadline nears for taxpayers who requested tax filing extensions
   • October 5, 2020: IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers
   • September 24, 2020: IRS highlights employer credits for businesses during Small Business Week
   • September 23, 2020: IRS reminds taxpayers of the home office deduction rules during Small Business Week
   • September 17, 2020: IRS releases state-by-state breakdown of nearly 9 million non-filers who will be mailed letters about Economic Impact Payments
   • September 16, 2020: IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches
   • September 16, 2020: IRS reminds taxpayers and practitioners of expedited letter ruling procedures
   • September 8, 2020: IRS to mail special letter to estimated 9 million non-filers, urging them to claim Economic Impact Payment by Oct. 15 at IRS.gov
   
4. Guidance:
   • Notice 2020-32 (PDF), IRS Denies Tax Deductions For Wages, Rent Paid With Forgivable PPP Loans
   • Notice 2020-17 (PDF), Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic
   • Notice 2020-15 (PDF), High deductible health plans and expenses related to COVID-19
   
5. Taxpayer Bill of Rights

• State Tax Filing Guidance for Coronavirus Pandemic

• Tracking State Legislative Responses to COVID-19

Whether you use these resources for your own practice or for your small business clients, make sure you know all the resources and assistance available to help SMBs in this time of economic hardship.

1. U.S. Treasury Department
   • Treasury Assistance for Small Businesses Resource Page
   • Small Business Paycheck Protection Program (PPP)
   • Paycheck Protection Program (PPP) Information Sheet: Borrowers
   • Final PPP Borrower Application Form 
2. USA Small Business Administration
   • Guidance for Businesses and Employers to Plan and Respond to Coronavirus Disease
   • Coronavirus Relief Options   
   • SBA Disaster Assistance for COVID-19
   • Capital Access Resources
   • SBA Local Assistance Directory
   • Disaster Response Jobs at SBA
3. U.S. Chamber of Commerce
   • COVID-19 Small Business Guide
   • Coronavirus response toolkit for small businesses
4. U.S. Federal Reserve
   • COVID-19 Supervisory and Regulatory FAQs
   • Main Street Lending Program for small to medium-sized businesses
5. Department of Labor
   • Coronavirus Resource Center
   • State by state list of workforce agencies
   • Occupational Safety and Health Administration (OSHA) COVID-19 guidance
6. Resources
   • Stand for Small: COVID-19 Help for Small Businesses
   • Small Business Development Center: COVID-19 Small Business Resources
   • ADP : Good resource for businesses managing absences, paid and unpaid leave
   • Forbes: List Of Coronavirus Small Business Relief Programs (updated continually, state and local included)
   • Support Local (USA Today): Buy gift cards to support local businesses struggling during this time – and encourage others to do the same! 
   • Mazars USA offers Paycheck Protection Program analysis tool for small biz 
7. Financial assistance (Grants, loans, etc):
   • How To Get $1,000 If You Are A Freelancer, Gig Worker, Or Independent Contractor
   • For freelancers: The Freelancers Union has started a Freelancers Relief Fund where you can apply for grants to make up for lost income
   • Faire: Financial planner for retailers – Use this calculator to understand the potential impact of COVID-19 on your business, and see immediate next steps you can take
   • Loom: Free COVID-19 Cash Runway Scenario Planning Tool – Gauge the impact COVID-19 could have on your company
   • Facebook: Small Business Grants Program (offering $100M in cash grants and ad credits)
   • Finder.com: Where to find free or low-interest loans for small businesses affected by the coronavirus
   • Kiva: The crowdsourcing/microfinance company is offering 0% loans up to $15,000 with no payments for six months.
   • GoFundMe has partnered with Yelp to launch the Small Business Relief Initiative, offering grants and resources to small business owners.
8. Articles
   • (NEW) Here Is What's In The COVID-19 Relief Package
   • (NEW) IRS to employers: Remember February 1, 2021 deadline for Form W-2, other wage statements
   • (NEW) SBA Approves Simple 1-Page PPP Forgiveness Application for Loans of $50,000 or Less
   • (NEW) New PPP Rules From SBA Aimed At Clarifying Loan Forgiveness
   • SBA EIDL Program: Advances No Longer Available But Favorable Loans Still Being Granted
   • Five takeaways from PPP loan data
   • House votes unanimously to extend deadline for coronavirus small-business loan program
   • SBA Finally Clarifies PPP Loan Forgiveness Rules: Full Forgiveness For Self-Employed Borrowers
   

Keep checking these pages for the latest news and guidelines straight from the source – government and public health officials.

1. Centers For Disease Control
   • Coronavirus Resources Page
   • About Coronavirus Disease
   • Situation Summary
   • Interim Guidance for Businesses and Employers
2. Coronavirus.gov
   • Resources for small business owners
   • Resources for businesses
   • Resources for households
3. World Health Organization Coronavirus Information Page
4. Department of Homeland Security Pandemic Guide
5. U.S. State Department
   • Travel Advisories
   • Current Outbreak Updates
6. USA.gov
   • Total Government Response to Coronavirus
   • Total Government Response to Coronavirus (Spanish)
   • Government Response by State

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The latest updates about key events, sites, and more from around the tax and accounting industry.

• IRS reminds tax professionals to renew PTINs now for 2021
• Online seminars from 2020 IRS Nationwide Tax Forums now available
• Working Virtually: make a plan for protecting data and reporting theft; Part 5 of Security Summit tips for tax professionals
  
• Working Virtually: Avoid phishing scams; Part 4 of Security Summit tips for tax professionals
• Working Virtually: Use a virtual private network to secure remote locations; Part 3 of Security Summit tips for tax professionals
• Looks Like There Will Be a Very Different CPA Exam by 2024
• Working Virtually: Use multi-factor authentication to protect accounts; Part 2 of Security Summit tips for tax professionals
• Working Virtually: Protect tax data at home and at work with the "Security Six;" Part 1 of Security Summit tips for tax professionals
• New AICPA tool automates PPP loan forgiveness process
• Security Summit focuses on tax pro security during coronavirus; new series on working virtually: protecting tax data at home and at work
• More than 100 lawmakers urge IRS to resolve stimulus payment issues
• IRS is not extending tax deadline: 2019 returns must be filed by July 15
• IRS to pay interest on refunds issued after April 15
• As IRS Employees Return To Work, Here’s An Updated Look At What To Expect
• AICPA issues guidance on accounting for forgivable PPP loans
• What’s Open (And What’s Not) As The IRS Resumes Operations
• AICPA issues guidance on accounting for forgivable PPP loans

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