AICPA Town Hall Series - January 7, 2021

The AICPA Town Hall Series provides the latest news and updates on pressing issues facing the accounting profession. Presenters: Erik Asgeirsson, President & CEO, CPA.com Lisa Simpson, VP Firm Services, AICPA Carl Peterson, VP Small Firms at AICPA Edward Karl, VP of Taxation at AICPA Jan Lewis, Tax Partner at Haddox Reid Eubank Betts Topics: Update from Washington DC: Legislative, IRS & SBA/Treasury Technical Update and Analysis on New Stimulus Bill Tax Panel: Readiness, Preparing for 2020 tax filing season Small Firm Update Insights on Getting Ready for PPP2 Key Insights: Erik Asgeirsson, president and CEO of CPA.com, and Lisa Simpson, the AICPA's vice president of firm services, provide the latest developments on the Paycheck Protection Program (PPP) leading up to the Jan. 19 opening of the application process to all participating lenders. AICPA senior manager Kari Hipsak discusses elements of the CPA Business Funding Portal, a user-friendly tool for handling PPP loan and forgiveness applications. Fintech Biz2Credit, which built the tool with CPA.com, is approved by the SBA to make PPP loans directly to borrowers. Kristin Esposito, the AICPA's director of tax policy and advocacy, talks about enhancements to the Employee Retention Credit and how firms can advise clients about the interplay between the credit and PPP.