With hundreds of billions in loans given out to small businesses across the country, many business owners are pressing their tax advisors for information on the program. Year-end legislation reopened PPP for hard-hit businesses. Visit our resources page for answers to all of your PPP questions.
- How much can a business borrow?
- How do you qualify for loan forgiveness?
- How can businesses use the money?
- Are expenses paid with PPP loan proceeds deductible?
Tax Issues Related to Working From Home
CCH Forward Together Virtual Conference Will Help Accounting Firms Navigate Change
CARES 2 Legislation Stalls; President Trump Signs Executive Order Deferring Payroll Taxes
Enhanced business interest deduction rules can help companies struggling with impact of COVID-19
Complimentary Access to COVID-19 Research with CCH AnswerConnect
In response to the rapidly changing tax landscape and the overwhelming need for information and resources, Wolters Kluwer is providing free access to all COVID-19 related content within our award-winning tax research platform, CCH AnswerConnect.
Find the Right Remote Work Tools for You
In-Depth Webinars and Publications
Wolters Kluwer COVID-19 StatementAs the coronavirus disease (COVID-19) situation continues to evolve as a truly global problem, governments and healthcare organizations around the globe are issuing new guidance and measures every day. Our leaders and experts are engaged, we are 24/7 monitoring the latest information, and rapidly responding to latest developments and guidance. Our top priority is to protect the health and well-being of our employees and our communities, and at the same time continue to service our clients without interruption.
Our thoughts are with the people affected and the professionals working around the clock to help those most in need, including healthcare professionals responding on the front lines, and tax, financial, and legal professionals keeping our economies and communities running.
Continue to serve our clients
We recognize that customers rely upon us and may face an increased need to leverage our solutions to enhance their business continuity plans. We’re working to do our part at Wolters Kluwer by continuing to service our clients while providing additional support and service to further help them navigate these challenging times.
We’re making our expert solutions available to help our customers, partners, and communities. We also offer solutions to governments, hospitals, and clinicians that are dealing with the impact of the virus, including Health solutions like UpToDate, Lippincott Nursing resources, Audio Digest, and Ovid; CCH® AnswerConnect Tax Briefing; Enablon EHS solutions; Employment & Labor Law guidance for our Legal customers, and BOLD (Chinese legal database).
We are open for business
As of March 16, we have extended our work-from-home guidance to all employees globally as a precautionary measure and to protect the health and safety of our employees, clients, and communities, to help contain the spread of the virus. Our investment in digital infrastructures allow us to continue operating and progressing in line with our company values, while serving our highly engaged teams.
While we serve the needs of our clients remotely, our offices will remain open for critical functions. We will shift back to normal work patterns when possible and in line with governmental mandates and advice.
Cybersecurity ResourcesWith more and more people turning to remote work options in the face of the COVID-19 pandemic, cybersecurity has never been more important.
In fact, Accounting Today reported that the IRS warned tax professionals Wednesday (3/18/20) of a new phishing email scam targeting them. The IRS is urging tax professionals to beware and follow some security steps to safeguard their clients and businesses.
The steps include:
Use the multifactor authentication option offered by tax prep software to protect accounts from unauthorized access.
Use strong password protections on all devices.
Never open suspicious emails, links and attachments that may carry malware.
Use strong security software and keep it updated.
We’ve pulled together more in-depth resources to help you navigate cybersecurity.
Fireside Chat: Cybersecurity Guidance from the IRS Security Summit
More than ever, tax preparers will need to stay educated and informed on measures that they can take to prevent fraud and security breaches. In this fireside chat, Shannon Bond, VP & Segment Leader for the Preparer Market and contributing member of the IRS Security Summit, shares insights on how to safeguard your clients’ information and stay informed on best practices when it comes to dealing with data breaches and identity fraud.
White Paper: Data Security in the Cloud vs. On-Premise
This white paper takes a detailed look at things you need to consider to adequately protect your firm and clients' data against digital threats, analyzing the differences between cloud-based and on-premise security.
Accounting Today: Cybersecurity Headlines
Pennsylvania Institute of CPAs: Cybersecurity for CPAs Resource Center
IRS Publication 4557, Safeguarding Taxpayer Data
Government & Health Resources
As tax professionals, we need to respond to the recent coronavirus developments on multiple fronts: understanding the tax implications of tax and compliance changes related to the virus, and ensuring business can continue to function remotely. We’re here to help.
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