Brought to you by the Maryland Association of CPAs This Week's Podcast Working remotely in the age of coronavirus Whether we were ready or not, we’re ALL remote workers now, thanks to the #coronavirus. In this week’s episode of “Future-Proof,” Tina Garza offers tips for remote-work success for leaders and employees alike. (From the BLI blog) • Subscribe: iTunes | Spotify | Google Play | Stitcher THE MACPA'S RESPONSE Extraordinary measures for extraordinary times MACPA President and CEO Tom Hood takes a few moments to update you on what your professional association has been doing on your behalf during this crisis. Official COVID-19 announcements and resources The MACPA has compiled a list of important announcements and resources from federal, state, and local governments and organizations, as well as from our own strategic partners. Status of MACPA conferences and live events The MACPA’s team is busy looking at options to move upcoming in-person events to virtual settings and, regretfully, have had to postpone others. If you are registered for an upcoming event, you will be notified of any changes. Updates of upcoming events can be found here. UPCOMING EVENTS MARYLAND'S RESPONSE Non-essential businesses closed; CPA firms may remain open Maryland Gov. Larry Hogan has ordered the closing of all non-essential businesses in response to the continued spread of COVID-19. Among those that may remain open are CPA firms, which are included in the federal list of organizations that are part of the “Essential Critical Infrastructure.” (From the MACPA’s blog) Gov. Hogan announces $175 million relief package for workers, small businesses Maryland Gov. Larry Hogan has announced more than $175 million to assist small businesses and workers affected by the COVID-19 pandemic. (From Maryland.gov) • More details about Maryland’s relief package How Maryland’s $175 million small business coronavirus relief programs will work A state program of more than $175 million will provide businesses with grants, loans and other relief to help pay workers, suppliers, landlords and other expenses during the coronavirus pandemic. (From The Baltimore Sun) More Maryland resources for businesses and tax pros You’ll find a complete list of Maryland’s COVID-19 resources for businesses, employers, tax professionals and others on this Maryland.gov webpage, which also allows you to subscribe for updates. (From Maryland.gov) Maryland DOL launches COVID-19 Layoff Aversion Fund Gov. Larry Hogan and the Maryland Department of Labor have launched the new COVID-19 Layoff Aversion Fund, which is designed to support businesses undergoing economic stresses due to the pandemic by preventing or minimizing the duration of unemployment resulting from layoffs. (From Maryland’s Department of Labor) THE IRS RESPONSE IRS posts FAQs about filing and payment extensions In response to practitioners’ questions about the filing and payment deadline extension announced last week, the IRS has posted 24 questions and answers on its website. (From the Journal of Accountancy) IRS alters certain operations in effort to protect employees, taxpayers during outbreak The IRS has announced that, to protect employees and taxpayers during the current coronavirus pandemic, it is scaling back some of its operations to focus on what it describes as “mission-critical activities.” (From the Journal of Accountancy) • IRS announces more operational changes related to coronavirus AICPA requests broader relief for taxpayers The AICPA on Thursday urged Treasury and the IRS to provide broader tax filing and payment relief for taxpayers affected by the ongoing COVID-19 pandemic. (From the Journal of Accountancy) IRS unveils new People First Initiative; COVID-19 temporarily adjusts compliance program To help people facing the challenges of COVID-19 issues, the Internal Revenue Service announced today a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions. (From the IRS) Will tax offer any economic relief? As the coronavirus continues to spread globally, governments worldwide are trying to figure out the best way to bolster the slowing economy. That involves tax filing and payment extensions and even temporary rate reductions. (From AccountingWEB) How the deadline postponement is affecting tax preparers The pandemic has officially pushed filing day for the federal government and a growing list of states into the summer. As it’s done to many other aspects of society, the outbreak has also upended the definition of “reprieve” for preparers. Is it a real breather? And what are clients saying? (From Accounting Today) THE FEDERAL RESPONSE White House, Senate reach deal on $2 trillion relief bill The White House and Senate leaders reached an agreement early Wednesday on a massive $2 trillion coronavirus spending bill aimed at alleviating the economic impact of the outbreak. (From NBC News) • House set to vote today on relief package Relief law includes tax breaks for paid sick leave, family leave A package of coronavirus relief legislation that was signed into law Wednesday includes provisions for paid sick leave, family leave, and medical leave, along with tax credits to help employers and the self-employed pay for them. (From Accounting Today) DOL offers guidance on paid sick leave, family / medical leave The U.S. Department of Labor’s Wage and Hour Division has announced its first round of published guidance to provide information to employees and employers about how each will be able to take advantage of the protections and relief offered by the Families First Coronavirus Response Act when it takes effect on April 1. (From the U.S. Department of Labor) COVID-19 and the Family and Medical Leave Act: FAQs If you or your employees are out with the flu or are caring for ill family members, check with the Department of Labor for information on whether such leave is covered under the Family and Medical Leave Act. (From the U.S. Department of Labor) • Fact sheet for employees | Fact sheet for employers SEC extends financial filing relief due to coronavirus The Securities and Exchange Commission said Wednesday it’s extending the filing periods covered under its previous reporting relief for companies due to the coronavirus pandemic. (From Accounting Today) WELLNESS 5 ways to curb coronavirus-related stress and anxiety Madelyn Fernstrom, NBC News’ health and nutrition editor, says it’s important to not just focus on your physical health during this challenging time, but your mental health as well. (From NBC News) Food safety, nutrition, and wellness during COVID-19 As we navigate these unprecedented times, many are wondering how to safely shop, order, and prepare food to minimize transmission of the novel coronavirus. (From the Harvard School of Public Health) Best ways to keep your car’s interior virus-free It’s best practice to keep the interior of you car, truck, or SUV sanitized under normal circumstances to help prevent to spread of cold and flu germs, but it’s more crucial than ever with the coronavirus hanging over our heads like the proverbial sword of Damocles. (From Forbes) Protect your family's mental health during the pandemic This is an unprecedented time for all of us. Take these steps to help yourself and your kids cope. (From US News) The healthiest way to sweat out a pandemic As gyms close their doors, people are buying up dumbbells like toilet paper. (From The Atlantic) Things to do Live broadcasting from the National Aquarium There’s nothing like experiencing the National Aquarium firsthand—but live cams are the next best thing! Tune into the Blacktip Reef, Jellies Invasion and Pacific Coral Reef live streams and enjoy a piece of the aquarium from home. (From The National Aquarium) Let’s science together Stuck inside with nothing to do? We’ve got a little something up our sleeve. Hint: It’s science. (From the Maryland Science Center) Smithsonian's National Zoo Although the zoo is closed to the public due to COVID-19, you can still enjoy the live webcams. Find the resource at the bottom of the home page before social media connections. (From Smithsonian National Zoo) Local Maryland DJ live-streams nightly as a stress relief Call it “the largest quarantine family reunion ever.” Spread the word, not the virus. (From DJ Kopec) Europe comes to you: Best exhibitions, concerts, operas, ballet to watch online for free World-famous cultural institutions, closed due to coronavirus, are opening their online doors to anyone who wants to enjoy their art for free through virtual masterpieces or explorations of artistic treasures. (From Forbes) FROM OUR SPONSORS COVID-19 resources from our partners The MACPA’s preferred providers and strategic partners have compiled a number of important resources related to the pandemic. See the complete list here. Resources and upcoming events from SIG Don’t miss the March 31 webinar titled “All You Need to Know on the Latest with COVID-19.” Get complete details and access to other important resources here. (From SIG) MARYLAND ASSOCIATION OF CPAs 901 Dulaney Valley Rd, Ste 800, Towson, MD, 21204­-2683 800­-782­-2036 | MACPA.ORG Update your email preferences here