Helping organizations navigate this crisis and plan for the future
COVID-19 Advisory
Our team of dedicated advisors can help you maximize stimulus package benefits and plan for the future. To learn more, please visit our COVID-19 Advisory page.
COVID-19 Blog Library
Please note that the impacts of and the government’s response to COVID-19 are quickly evolving and the subject matter discussed in these publications may change on a daily basis. Contact the author or your Aronson advisor for timely advice.
If you would like to speak with us about how COVID-19 is impacting your business, please email us or call 301.231.6200.
Tax & Other IRS-Related Alerts
March 25, 2021 – American Rescue Plan Act of 2021
February 22, 2021 – Maryland’s RELIEF Act Expands Pass-through Entity Tax Election to Apply to Nonresidents
February 17, 2021 – Maryland’s RELIEF Package Provides Sales Tax Credit for Small Businesses of up to $12,000
January 13, 2021 – Tax Impacts of the Consolidated Appropriations Act
December 23, 2020 – PPP Loan Expenses Deductible At Last
November 5, 2020 – IRS Liens Away From Many Repayment Requirements to Ease Taxpayers’ Burden During COVID-19 Pandemic
August 31, 2020 – COVID-19 Relief Provided for Qualified Opportunity Funds and Investors
August 19, 2020 – Prolonged Telecommuting Presents Difficult State Tax Reporting Issues
July 29, 2020 – COVID-19 Distress May Present an Estate Planning Opportunity – Why Now May be the Time to Gift Business Interests
July 27, 2020 – AICPA Ask IRS for Blanket 2918 Penalty Relief Due to COVID-19 Pandemic
July 16, 2020 – CARES Act Triggers Maryland’s Automatic Decoupling
July 16, 2020 – IRS Issues Retirement Arrangement Guidance
June 25, 2020 – IRS, You’ve Got Mail…Eleven Million Pieces of It
May 18, 2020 – Home Office Deduction During COVID-19
May 13, 2020 – IRS to Permit Mid-Year Health Plan Changes
May 7, 2020 – Need to Return a Stimulus Check?
May 7, 2020 – Qualified Improvement Property Changes Under the CARES Act
May 4, 2020 – Paycheck Protection Program: Tax Treatment of Receipt and Use of Funds
April 15, 2020 – IRS Automatically Extends Tax-Exempt Organization Deadlines
March 30, 2020 – Relevant Business and Individual Tax Provisions of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act)
March 30, 2020 – IRS Suspends Tax Compliance Programs to Assist American Taxpayers During COVID-19 Crisis
March 25, 2020 – IRA and Benefit Plan Contribution Deadlines Extended to July 15
March 24, 2020 – Payroll Tax Credits Under Families First Coronavirus Response Act
March 23, 2020 – IRS Formally Announces Deferral of Filing and Payments to July 15
March 19, 2020 – New Tax Payment Deadline: July 15
March 19, 2020 – Tax Payment Deferral Amid COVID-19
Business Resources
March 31, 2021 – PPP Application Deadline Extended Until May 31
March 11, 2021 – Congress Passes Newest Covid bill, The American Rescue Plan Act of 2021
January 18, 2021 – The Paycheck Protection Program and The Economic Aid Act: What Does it all Mean?
December 23, 2020 – Congress Passes New Stimulus Bill Including Round Two of PPP Funding
November 6, 2020 – PPP Update: Additional Paperwork for Loans of $2M or Greater
August 29, 2020 – Governor Hogan Announces $250 million in Economic Relief for Maryland Business
August 26, 2020 – PPP Update: SBA Releases Additional Guidance on Owner-Employee Compensation and Rental Costs
August 26, 2020 – COVID-19 Pandemic Impact on Asset Valuations
August 26, 2020 – COVID-19 Pandemic Impact and Subsequent Events Assessment
August 26, 2020 – COVID-19 Pandemic Impact on Going Concern Evaluation
August 26, 2020 – COVID-19 Pandemic Impact on Lease Concessions
August 26, 2020 – COVID-19 Pandemic Impact on Revenue Recognition
August 24, 2020 – Paycheck Protection Program Update: Don’t Forget the Forgiveness!
August 4, 2020 – Application Now Open for the Reopen Montgomery Grant Program
July 27, 2020 – PPP Update: When Can I Apply for Forgiveness?
June 29, 2020 – What Can Business Owners Do Now to Prepare for a COVID-19 Business Interruption Claim?
June 5, 2020 – Business Interruption Loss Calculations: Are All Relevant Factors Being Considered?
June 4, 2020 – Senate Passes PPP Flexibility Act of 2020
May 18, 2020 – SBA Releases PPP Loan Forgiveness Application
May 13, 2020 – SBA Releases Guidance on Review of PPP Loans and Extends Safe Harbor Deadline Again
May 6, 2020 – PPP Safe Harbor Deadline Extended
April 24, 2020 – Impairment Considerations for COVID-19
April 22, 2020 – Montgomery County, Maryland PHEG Program: $20 Million Fund for Local Businesses, Nonprofits, Retail, and Restaurants
April 20, 2020 – Paycheck Protection Program Guidelines for Schedule C Filers
April 15, 2020 – Grant and Loan Programs for Small Businesses and Nonprofits You Might Not Be Tracking
April 15, 2020 – Business Interruption Coverage Due to COVID-19 Presents Challenges, but States Are Stepping In
April 10, 2020 – Phase Two of the Paycheck Protection Program
April 10, 2020 – Funding Relief Strategy for Businesses with Defined Benefit Plans in Light of COVID-19
April 9, 2020 – FASB Proposal Made to Defer Effective Dates for the New Lease Standard
April 6, 2020 – Paycheck Protection Program (PPP) FAQ
April 3, 2020 – Maryland Commerce Department, Montgomery County, Prince George’s County, and District of Columbia Announce Disaster Recovery Loan Programs
April 2, 2020 – Will COVID-19 Alter Business’s State Tax Footprint?
March 31, 2020 – How Will the COVID-19 Crisis Affect the Value of Your Business?
March 27, 2020 – Cash Management in the Time of COVID-19
March 23, 2020 – SBA Disaster Loan FAQ
March 17, 2020 – COVID-19 Business Continuity Checklist
March 17, 2020 – Developing a Continuity Plan in Response to Coronavirus
Construction & Real Estate
April 24, 2020 – Proper Planning for Tracking COVID-19 Related Claims
April 23, 2020 – Planning for Success in Lean Economic Times
April 21, 2020 – Effective Cash Management For Construction Contractors In Good & Challenging Times
March 30, 2020 – Key Provisions of the CARES Act and Effects on the Real Estate Industry
March 27, 2020 – Vital Tips For Construction Contractors Amid COVID-19 Economic Downturn
Employer Obligations
March 27, 2020 – Aronson’s Guide to COVID-19 Emergency Paid Sick Leave
March 23, 2020 – ABCs to Account for COVID-19 Sick Leave
March 19, 2020 – Congress Passes Emergency Sick Leave Act
Government Contracting
March 12, 2021 – Attention GSA Schedule Holders – New Memo Temporarily Waives Requirements
June 24, 2020 – A Contractor’s Guide to COVID-19 REAs
June 2, 2020 – FFCRA Federal Contractors Guide
June 2, 2020 – PPP Federal Contractors Guide
May 19, 2020 – DoD Draft Guidance – Process for 3610 Reimbursement
May 6, 2020 – DoD to “Pause” and Establish Process for Section 3610 Reimbursement
April 23, 2020 – Incurred Cost Submissions Still Due June 30 for Contractors with December 2019 Year End
April 20, 2020 – Still Need to File Small Business Subcontracting Reports or Update SAM? You Have More Time!
April 20, 2020 – Is PPP Loan Forgiveness a “Credit” on Federal Contracts?
April 10, 2020 – Do I need to change my provisional rates for the economic impacts of COVID-19?
April 9, 2020 – CARES Act and The Special Provision for Federal Contractors
April 9, 2020 – Just Released for DoD Federal Contractors – “Class Deviation – CARES Act Section 3610 Implementation”
April 6, 2020 – Paycheck Protection Program and Federal Government Contractors
March 27, 2020 – Contractors Should Prepare for DPAS Rated Orders Due to COVID-19
March 26, 2020 – COVID-19 Emergency Opens General Services Administration and Veterans Affairs Schedules to State and Local Use
March 24, 2020 – The Office of Budget and Management Issues COVID-19 Guidance for Government Contracts
March 23, 2020 – Government Contractors Should Be Prepared to Invoke the Excusable Delays Clause
Hospitality
March 23, 2021 – What Does the Restaurants Revitalization Fund Mean for Restaurant Operators?
January 14, 2021 – New COVID-19 Economic Relief Bill Creates Opportunities for Restaurants, Hotels, Distributors, and Retailers
December 2, 2020 – CARES Act Enhances Ability to Claim Charitable Deductions for Donated Food Inventory
July 27, 2020 – PPP Loan Forgiveness Updates: Future Planning Restaurant and Hotel Owners Should Pay Attention To
May 8, 2020 – Restaurants and Hotels Should Weigh the Pros and Cons of the PPP Loan Versus the Employer Retention Credit Before May 14th
March 25, 2020 – How Hospitality Owners Can Preserve Cashflow During COVID-19
March 19, 2020 – Donate Food Inventory During Epidemic and Claim Sizeable Charitable Deductions
Mergers & Acquisitions
March 19, 2020 – COVID-19 Impact on Transaction Timing and Risks
Nonprofit
December 23, 2020 – A Time Traveler’s Guide to Pursuing Paycheck Protection Program Loans: Lessons From the Past Before Applying for Your Organization’s PPP Funds
June 23, 2020 – OMB Issues COVID Impact Update on Federal Awards
June 8, 2020 – FASB Defers Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842)
May 28, 2020 – Financial Accounting for PPP Loans
May 5, 2020 – SBA Loan guidance on Single-Audits for Nonprofits
April 24, 2020 – How Nonprofits Should Account for PPP Loans
April 15, 2020 – Grant and Loan Programs for Small Businesses and Nonprofits You Might Not Be Tracking
April 15, 2020 – IRS Automatically Extends Tax-Exempt Organization Deadlines
April 8, 2020 – Online Silent Auctions: The “Stay at Home” Alternative for Your Organization’s Summer Fundraiser
April 1, 2020 – Grants, Loans, and Tax Credits Available to Nonprofits
April 1, 2020 – If Your Nonprofit is in Maryland, It May be Eligible to Apply for an Emergency Grant
Retirement Plans
January 6, 2021 – New Retirement Plan Provisions Under the Consolidated Appropriations Act, 2021
March 31, 2020 – CARES Act Retirement Plan and IRA Provisions
March 18, 2020 – Beware of Costly COVID-19 Retirement Plan Missteps
Technology
April 6, 2020 – COVID-19: Keep Your (Cyber) Guard Up!