COVID-19 Updates and Resources for KSCPA Members
KSCPA Updates
KSCPA MAKES RECOMMENDATIONS FOR THE NEW PHASE OF COVID-19 RELIEF LEGISLATION (JULY 22, 2020)
RETURN TO THE OFFICE TOOLKIT FOR KANSAS BUSINESS LEADERS (JULY 10, 2020)
SBA UPDATES FIRST PPP INTERIM FINAL RULE FOLLOWING PPP FLEXIBILITY ACT a KSCPA Ignite Blog (June 17, 2020)
EMERGING ISSUES RELATED TO COVID-19 a KSCPA Legislative Update (4/2/2020)
NEW RULES FOR FMLA AND SICK LEAVE a KSCPA Virtual Expert Forum Q&A (3/30/2020)
SUMMARY OF CARES ACT PROVISIONS a KSCPA Ignite Blog (4/1/2020)
CAUTION – HELPING CLIENTS WITH SBA LOAN APPLICATIONS a KSCPA Exchange Post (3/24/2020)
Remote Work Success Factors:
For information regarding upcoming CPE and virtual learning, visit https://www.kscpa.org/learning
Kansas Updates
Notice 20-02 Waiver of Penalty and Interest for Estimated Tax Payments for Individual and Corporate Income Taxes and Privilege Tax (KDOR)
Notice 20-01 Changes to Filing and Payment Due Dates for Homestead or Property Tax Relief Refund Claims and Individual, Fiduciary and Corporate Income Tax, and Privilege Tax (KDOR)
For the latest information on Coronavirus (COVID-19), go to https://govstatus.egov.com/coronavirus
National/Federal Updates
For the latest information from the IRS to help taxpayers, businesses and others affected by the coronavirus go to https://www.irs.gov/coronavirus.
STATE BY STATE TAX FILING RELIEF GUIDANCE (Source: AICPA)
Paycheck Protection Program (PPP) Resources (8/21/2020)
- Summary of Paycheck Protection Program Flexibility Act (Source: AICPA 6/15/2020)
- Revised PPP Loan Forgiveness Application along with instructions (Source: SBA 6/16/2020)
- Frequently Asked Questions: Paycheck Protection Program Loans (Source: US Treasury 8/11/2020)
- PPP Loan Forgiveness Services Matrix (Source: AICPA)
- PPP Loan Forgiveness Calculator (Source: AICPA 8/20/2020)
- PPP Loan Forgiveness Automation Tool (Source: AICPA; CPA.com; bix2credit)
- Additional resources such as a weekly town hall series and more loan forgiveness resources. SBA Paycheck Protection Program (PPP) resources for CPAs (Source: AICPA 8/21/2020)
- Stay updated by visiting the SBA website - https://www.sba.gov/funding-programs/loans/coronavirus-relief-options/paycheck-protection-program-ppp
- CARES Act Stimulus Calculator (Source: AICPA)
- Engagement Letter Templates - PPP Loan Forgiveness Assistance
CAMICO, KSCPA’s exclusively endorsed provider of professional liability and employment practices liability insurance, encourages firms who are assisting clients with PPP loan forgiveness to have an engagement letter in place that outlines the scope and limitations of the services being provided, as well as the client’s responsibilities under the terms of the engagement. CAMICO has developed the following two engagement letter templates for this purpose:
Consulting Services: Assistance with PPP Loan Forgiveness
Agreed-Upon Procedures: PPP Loan Forgiveness Calculations
