State action and accounting as “essential business" CPA Society COVID-19 resources links. Our members are already concerned that a July 15 th deferral may be insufficient given the unpredictable spread of COVID-19 and related closures and stay-at-home orders.” The AICPA also urged Treasury and IRS officials to take more aggressive steps to protect taxpayers and tax preparers in regard to COVID-19. As was the case with the other tax-related COVID-19 relief programs, we will provide updates on the program and discuss any questions or issues on the program with the CRA as they arise. Backgrounder released on new Canada Emergency Rent Subsidy and the CEWS extension. When you pass a section of the 4-part CPA Exam, you receive a “credit… If you’re worried about whether or not this will affect your 18-month rolling window to pass the CPA Exam, NASBA has stated the following regarding credit extensions: A CPE Extension notification is only relevant to professions that are renewing while we are under a state of emergency during the COVID crisis. Breaking Down The Changes To The Employee Retention Credit In The New COVID Relief Bill, Part 2. I am a CPA … Finance Canada has released a backgrounder on the Canada Emergency Rent Subsidy. The omnibus spending and coronavirus relief bill passed by Congress includes many tax provisions, including the extension of various expiring provisions, extensions and expansions of certain earlier pandemic tax relief provisions, and much more. NASBA Credit Extensions. You can learn more about Prometric and COVID-19 updates here. CPA State Board CPA Exam Credit Extension Guide. Will CPA Exam credit extensions be granted? The … Connect to state CPA societies across the U.S. and territories. COVID-19 State CPA profession and licensure status. It is recommended that CPA candidates who need more personalized and detailed information about their exam status contact NASBA directly. Because CPA’s renew 12/31/2021, we are not addressing an extension at this time. Since so many candidates have been affected by the COVID pandemic and Prometric closures, the Boards of Accountancy in most jurisdictions are granting credit extensions. Extension of the Employee Retention Credit Beginning on January 1, 2021 and through June 30, 2021, the provision: Increases the payroll tax credit rate … Any CPA Exam credits that would have expired between April 1, 2020 and June 30, 2021 are extended until June 30, 2021. States’ executive actions have downstream consequences impacting licensure and how Boards of Accountancy operate. Are Prometric Testing Centers open? Coronavirus Impact on CPAs: More Tax Filing Relief is Needed The AICPA, state CPA societies and AICPA members successfully advocated for a tax-filing deadline extension, but more relief is needed. NASBA has identified all candidates who have an open NTS and credit expiring through June 30, 2020, and the DC Board of Accountancy has agreed with a recommendation to grant an extension of credit if the candidate is impacted by circumstances beyond their control. The AICPA and NASBA are fully functioning to support CPA candidates during this time of uncertainty with the COVID-19 pandemic. While there is no universal NTS extension beyond December 31, we will consider extensions on an individual basis. Learn what other advocacy efforts the AICPA is working towards. Yes. Our hopes are that the state of emergency will be lifted well before then and would not apply to our CPA’s. 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