COVID-19 Resource Center

We are living through a strange and disruptive time. From social distancing to remote workforces and school closures, the COVID-19 outbreak has upended our sense of normalcy and interrupted daily routines and activities. To help clients and friends of the firm navigate the business impacts of COVID-19, we are providing an online resource center.

The Hood & Strong team is prepared to serve clients during this unprecedented time of upheaval. Currently, the entire team is continuing to work remotely and support our clients via phone and email. We remain available and accessible, and will continue to work towards meeting established tax and reporting deadlines. The health and well-being of our clients and staff remains our top concern and priority. We value your continued partnership and trust in us.

While our goal is to provide the most up-to-date information, things are changing rapidly. We encourage you to review the content in our Resource Center regularly.

• Concerns About the Going Concern Assumption During an Audit – 04.26.21 Read full article here
• PPP Deductions May Be Coming for California – 04.08.21 Read full article here
• PPP Application Deadline Extended – 03.30.21  Read full article here
• Make the most of the Employee Retention Credit – 03.19.21 – Read full article here
• The American Rescue Plan Act provides sweeping relief measures for eligible families and businesses – 03.16.21 – Read full article here
• President Biden Signs American Rescue Plan Act of 2021 – 03.11.21 –  Read full article here
• The American Rescue Plan Act has passed: What’s in it for you? – 03.11.21 – Read full article here
• PPP revisions target smallest businesses – 02.25.21 – Read full article here
• How can your business benefit from the Consolidated Appropriations Act? – 02.23.21 – Read full article here
• How will the latest COVID-19 legislation affect your taxes? – 01.08.21 – Read full article here
• The Consolidated Appropriations Act brings COVID-19 relief (and more) to individuals – 01.08.21 – Read full article here
• A business guide to the December federal coronavirus relief package – 01.08.21 – Read full article here
• IRS Code Section 139 – COVID Relief for Employees – 12.11.20 – Read full article here
• COVID-19 forces a focus on operating costs – 11.13.20 – Read full article here
• Beware: COVID-19 crisis could lead to occupational fraud – 09.29.20 – Read full article here
• The IRS issues guidance on the executive action deferring payroll taxes – 09.01.20 – Read full article here
• IRS: Seniors, retirees not required to take distributions from retirement accounts this year under new law – 07.27.20 – Read full article here
• Are you covered? Potential insurance relief for COVID-19 losses – 07.14.20 – Read full article here
• AICPA issues guidance on reporting PPP loans – 06.26.20 – Read full article here
• PPP borrowers get concessions, additional guidance on forgiveness – 06.05.20 – Read full article here
• FASB votes to delay revenue recognition effective date for private companies (Journal of Accountancy) – 05.20.20 – Read full article here
• SBA provides safe harbor for PPP loans under $2 million (Journal of Accountancy) – 05.13.20 – Read full article here
• The IRS clarifies the deductibility of PPP-funded expenses – 05.08.20 – Read full article here
• SBA extends the PPP repayment deadline for self-certification – 05.06.20 – Read full article here
• Disclosing COVID-19-related risks – 04.27.20 – Read full article here
• More COVID-19 relief: FASB to defer implementation deadlines – 04.27.20 – Read full article here
• COVID-19 pandemic to trigger midyear goodwill impairment – 04.27.20 – Read full article here
• Congress expands small business COVID-19 relief – 04.24.20 – Read full article here
• The IRS announces new COVID-19-related assistance for taxpayers – 04.13.20 – Read full article here
• State taxing authorities address COVID-19 filing and business changes – 04.02.20 – Read full article here
• Penalty relief for failure to deposit employment taxes – 04-01-20 – Read full article here
• IRS extends important 403(b) retirement plan document deadline – 03.31.20 – Read full article here
• COVID-19 stimulus package offers relief to affected individual taxpayers – 03.31.20 – Read full article here
• Implications for retirement plans from COVID-19 – 03.31.20 – Read full article here
• CARES Act provides COVID-19 pandemic relief to businesses – 03.30.20 – Read full article here
• CARES Act will provide billions of dollars of relief to individuals, businesses, state and local governments, and the health care system – 03.26.20 – Read full article here
• What nonprofits need to know about CARES Act – 03.26.20 – Read full article here
• COVID-19 Tax Relief and Nonprofit Federal Assistance – 03.24.20 – Read full article here
• What you need to know about the Families First Coronavirus Response Act – 03.20.20 – Read full article here
• U.S. Treasury Secretary now says tax filing deadline is moved to July 15 – 03.20.20 – Read full article here
• House passes bill to provide coronavirus relief; Senate expected to act this week – 03.19.20 – Read full article here
• High deductible health plans can cover medical costs for coronavirus – 03.12.20 – Read full article here
• Effects of the coronavirus on financial reporting – 02.20.20 – Read full article here