• Preparing for the Business
    Impacts of COVID-19

The COVID-19 outbreak could have a direct and lasting impact on organizations of all sizes.

As the number of novel coronavirus (COVID-19) cases continue to climb both in the U.S. and across the globe, individuals and companies alike are taking steps to navigate this public health emergency.

What does a pandemic mean for your business, and for you? While it’s still difficult to predict the full extent of the impact of COVID-19, BDO is closely monitoring this rapidly evolving situation, offering guidance to help you through this time of uncertainty.

 



UPCOMING WEBINARS

 
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[WEBINAR] COVID-19: Preparing for the Economic Impacts of a Pandemic

April 8, 2020
1:00 PM to 2:30 PM EST


As the impact of COVID-19 continues to spread, and the effects on businesses around the world multiply, preparedness is one of our strongest tools. The pace of this global health crisis is staggering, but leaders should be ready to not only react, but to take specific tactical steps to prepare for the future, helping their organizations emerge stronger. Are you prepared?

There are many ways to reduce the economic impacts of a pandemic from evaluating the M&A environment and improving performance while mitigating financial distress and maintaining resilience, to applying for relief under the CARES Act while being aware of tax and financial reporting implications. Join us for the third webinar in our three-part series as we address these issues and more.

 
 
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[WEBINAR] Net Operating Loss Carrybacks Under the CARES Act

April 9, 2020
2:00 PM to 3:00 PM EST


The CARES Act provides for an elective five-year carryback of net operating losses (NOLs) generated in taxable years beginning after December 31, 2017, and before January 1, 2021. In addition, there are other rapid cash generating and payment deferral procedures that must be applied for by April 15, 2020.  In this webinar, we will review the procedures for making NOL carryback refund claims, and discuss additional cash-generating and payment-deferring federal tax strategies. We will also review the additional guidance released this week by the Small Business Administration (SBA), in consultation with the Department of Treasury. 

 
 
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[WEBINAR] COVID-19 Impact on Retailers: Navigating Disruption

April 13, 2020
2:00 PM to 3:00 PM EST


Retailers are in uncharted territory, and the extent of the COVID-19 impact is unknown. To weather this period of volatility, disruption and uncertainty, retailers will need to practice extreme financial discipline and leverage the tools and savings strategies available to manage critical expenses and operations.

 
 
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[WEBINAR] COVID-19: How Nonprofits Are Adapting to Change

April 14, 2020
1:00 PM to 2:15 PM EST


As nonprofit organizations continue adapting to the effects of the novel coronavirus (COVID-19) in the U.S. and across the globe, BDO nonprofit professionals understand that it's important for organizations to focus on financial sustainability and viability.

Nonprofit organizations and higher education institutions have been hard at work trying to help the world navigate the pandemic. While trying to maintain focus on their missions, these organizations and institutions face massive uncertainty in the face of COVID-19, including financial turmoil, layoffs, remote work, quarantines, shelter-in-place orders and other measures.

 
 
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[WEBINAR] COVID-19: An Update for Government Contractors

April 21, 2020
12:00 PM to 1:00 PM EST


What is the status of the Government Contracting market two weeks after a record $2.2 trillion novel coronavirus (COVID-19) federal stimulus package was signed into law? Small businesses will have had the chance to apply for several SBA loan packages. BDO Government Contracting professionals will discuss how the SBA will be able to process applications fast enough to save restaurants, steamfitters, and IT resellers. The Defense Production Act will also be discussed, as well as General Motors’ mandate to produce ventilators. We will also discuss whether Congress will support an additional stimulus package based on initial feedback from voters.
 
Join us for a webinar updating the status quo of government contracting.

 
 
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[WEBINAR] 2020 IA Webinar Series: Evaluating Compliance and Anti-Fraud Programs – A Case Study with BDO’s Forensics Practice

April 28, 2020
3:00 PM to 4:00 PM EST


Internal Auditors must evaluate the potential for occurrence of fraud and how their organization manages these risks. In this session, BDO's Risk Advisory Services practice partners with our Forensic Investigation team to discuss the impact of COVID-19 on evaluations, as well as how internal auditors can identify key fraud and compliance risks and effectively assess the organization's anti-fraud and compliance programs.

 
 

ON-DEMAND WEBINARS

 
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[WEBINAR] BDO Board Forum Webinar - COVID-19: Accounting, Reporting and Other Related Considerations for Boards

This course will provide participants with an update on communication and reporting considerations on the rapidly changing impacts to public companies caused by the novel coronavirus (COVID-19) pandemic.

 
 
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[WEBINAR] 2020 Private Capital Outlook: M&A, Shifting Strategies & Capital Deployment

Prior to the coronavirus (COVID-19) outbreak, almost three quarters of private equity professionals said they’d expect an economic downturn within two years. Given our current circumstances, that has happened much quicker than any could have thought. In these uncertain times, hear from private equity and venture capital leaders how fund managers are navigating top regulatory and geopolitical concerns, including COVID-19 and the economy.

 
 
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[WEBINAR] Paycheck Protection SBA 7a Loan Program: What Restaurants Need to Know


This webinar will cover the Paycheck Protection/SBA 7(a) Loan Program and Employee Retention Credits, with a focus on provisions most relevant to the restaurant industry.  

The recently passed CARES Act creates a specific loan program through the Small Business Administration to help small businesses retain employees and pay critical expenses in this challenging time. Special restaurant-specific carve-outs may allow larger restaurant groups to benefit from these loans.

 
 
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[WEBINAR] COVID-19: Mitigating Risk During Disruption


We are in uncharted territory. As we navigate the COVID-19 outbreak, the full impact is still yet to be determined. Businesses worldwide are facing significant challenges and obstacles to which they need to respond rapidly. Are you prepared?

Join us for the second webinar in our three-part series as we discuss supply chain disruption, data privacy and cybersecurity concerns, risk considerations and audit and regulatory implications.

 
 
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[WEBINAR] COVID-19: What Government Contractors Need to Know


Please join BDO USA, LLP for our BDO KNOWLEDGE Government Contracting Webinar, "COVID-19: What Government Contractors Need to Know."

This course will provide participants with an update on the rapidly changing impacts to Government contracting caused by the novel coronavirus (COVID-19) pandemic. The course will provide guidance to contractors to help them understand potential impacts to their business, along with proactive actions that contractors can take to help mitigate risk.

 
 
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[WEBINAR] Coronavirus Aid, Relief, and Economic Security (CARES) Act: What It Means For You & Tax Strategies to Increase Cash Flow


As the number of novel coronavirus (COVID-19) cases continue to climb both in the U.S. and across the globe, individuals and companies alike are taking steps to navigate this public health emergency. The Coronavirus Aid, Relief, and Economic Security (CARES) Act addresses the economic impacts of the COVID-19 outbreak within the United States. The CARES Act is intended to provide relief and recovery to businesses and individuals. Learn what it means for you and what tax strategies you can utilize now to increase business cash flow.

 
 
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[WEBINAR] How Do Nonprofits Adapt to Crisis?


As the novel coronavirus (COVID-19) continues to spread in the U.S. and across the globe, individuals and companies alike are taking steps to prepare for and react to this public health emergency. 
 
What does a pandemic mean for your business, and for you? While it’s still difficult to predict the full extent of the impact of COVID-19, BDO is closely monitoring this rapidly evolving situation, offering guidance to help you through this time of uncertainty.

 
 
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[WEBINAR] COVID-19: Managing your Business During a Crisis


We are in uncharted territory. As we navigate the COVID-19 outbreak, the full impact is yet to be determined. From managing the crisis and facing workforce shortages, to enabling a completely virtual work environment, to understanding the new legislation passed in response to COVID-19,  business leaders are faced with responding to a global health crisis while keeping their businesses operational and profitable. Are you prepared? Join us for the first webcast in a three-part webinar series.

 


INSIGHTS ON COVID-19

 
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SEC Staff Issues More Compliance and Disclosure Interpretations on COVID-19 Filing Relief

On April 6, 2020, the SEC issued Compliance and Disclosure Interpretation (C&DI) 104.18 to clarify that registrants may take advantage of the COVID-19 filing relief1 (or order) for the filing of Part III information of Form 10-K.  Form 10-K permits the Part III information to be incorporated by reference from a registrant’s definitive proxy or information statement or provided in an amendment to Form 10-K, no later than 120 days after the end of the registrant’s fiscal year end.

 
 
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Coronavirus Aid, Relief, and Economic Security Act: Manufacturing Impacts

On Friday, March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (also known as the CARES Act), a $2 trillion stimulus package intended to help mitigate the economic devastation caused by the novel coronavirus (COVID-19).

The stimulus is good news for manufacturers, many of whom are struggling given the current economic circumstances and stand to benefit financially from the package. However, the CARES Act also includes restrictions and responsibilities that manufacturers need to be aware of, especially manufacturers that produce supplies related to the healthcare industry, including ventilators, products like Personal Protective Equipment (PPE) and hand sanitizer, and medication.

 
 
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Retail Reset: Remedies to Rectify a Global Health Pandemic

The novel coronavirus (COVID-19) has disrupted business continuity across all industries, and retail is already feeling the impact. While retailers’ primary concern is the safety and wellbeing of their professionals and customers, this crisis requires specialized urgency and sensitivity given the widespread impact and uncertainty of the pandemic’s duration.

 
 
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CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees

As the number of employers and employees impacted by the novel coronavirus (COVID-19) grows each day, employers with workplace retirement plans may find that employees may be looking to those plans now more than ever to help cover financial hardships they are experiencing.

 
 
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The BDO GovCon Week Ahead - April 2020

Check out the latest issue of the BDO Gov Con Week Ahead for insights amid the COVID-19 pandemic.

 
 
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Preliminary CARES Act Loan Application Guidance for Air Carriers & Businesses Critical to National Security

The CARES Act, signed into law on March 27, includes a section, Title IV - Coronavirus Economic Stabilization Act, which authorizes the Secretary of the Treasury to make loans, loan guarantees and other investments of up to $500 billion to eligible businesses operating in severely distressed sectors of the economy, states and municipalities.

 
 
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How does the CARES Act Help Nonprofits and Higher Education Institutions?

Nonprofit organizations and higher education institutions have been hard at work trying to help the world navigate the novel coronavirus (COVID-19) pandemic.  While trying to maintain focus on their missions, these organizations and institutions face massive uncertainty in the face of COVID-19, including financial turmoil, layoffs, remote work, quarantines, shelter-in-place orders and other measures.

 
 
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Individuals: What You Need to Know About the CARES Act

On March 6, 2020, the Coronavirus Preparedness and Response Supplemental Appropriations Act, 2020 was enacted, becoming the first of three Congressional relief and stimulus acts passed in March and setting off a firestorm of administrative relief by several federal agencies including the IRS and Department of Labor.

 
 
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ASC 740 Income Taxes – Implications of COVID-19 and the CARES Act

Companies and individuals currently find themselves in unchartered territory as the world responds to the novel coronavirus (COVID-19). The implications of COVID-19 are having a direct impact on many people, for which the health and well-being of individuals and their families are paramount. In addition, companies are also being forced to deal with the ramifications of this pandemic on their businesses. To react to these challenges, governments around the world have been responding to COVID-19 in various ways, including enacting economic stimulus packages.

 
 
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CARES Act Aids Employers Who Continue to Pay Employees

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides two distinct and substantial employment tax benefits for certain employers under Sections 2301 and 2302 of the Act.  Section 2301 provides a refundable payroll tax credit for certain wages paid to employees from March 13 to December 31, 2020. Section 2302 allows employers to defer the deposit of certain employment taxes for as much as two years. Taken together, these provisions provide significant relief for employers and are designed to encourage employers to continue paying wages to employees during these unprecedented times.

 
 
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Embrace, Support and Prepare: How to Lead Virtual Teams Through a Crisis

Businesses have rapidly deployed technology solutions, such as collaboration tools and cloud computing, that enable their employees to work remotely and continue business operations during the COVID-19 pandemic. However, business leaders must be mindful of their employees’ larger needs as they face myriad challenges due to this crisis. Taking extra steps to support team members and strengthen communication during these sudden changes can have a significant impact on the success of virtual teams and the business alike.

 
 
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COVID-19’s Impact on U.S. Retirement Plans

Business leaders face an array of questions they need to answer and information they must analyze during the rapidly evolving response to the COVID-19 pandemic. 
 
While decisions about safety and business operations are obviously top priorities now, plan sponsors still must maintain compliance for their retirement plans. At BDO, we are here to help you navigate these decisions. We address three of the most immediate questions that companies should be considering related to their retirement plans.

 
 
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Coronavirus: Tax & Relocation Implications for the Mobile Workforce

The novel coronavirus that causes the disease COVID-19 has become a global issue. Since the virus was declared a pandemic by the World Health Organization (WHO), we have seen more border entry restrictions, quarantines and travel bans implemented to stop the virus’ spread. The evolving situation has made managing a mobile workforce more challenging.

 
 
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Telehealth’s New Relevancy Amid COVID-19

Telehealth has long been promised as a tool that could be used to leapfrog advances in access to care. Over recent years, the utility of telehealth has been clearly demonstrated, yet its progression into the mainstream has been stalled as payers struggled with finalizing details around coverage and reimbursement. More recently, healthcare providers and healthcare payers have found ways to provide telehealth coverage, often via an add-on or carve-out on a per visit basis.

 
 
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A Global Tax Tool: COVID-19 Fiscal and Financial Measures to Support Businesses and Individuals

Governments and other authorities worldwide are introducing measures to help businesses prepare and respond to the fiscal and financial impacts of COVID-19.

 
 
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The SALT Implications of the CARES Act

On March 27, 2020, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), which among numerous other provisions, modifies certain business tax provisions in the Internal Revenue Code (IRC). After the Tax Cuts and Jobs Act (TCJA) in December 2017 added these provisions to the IRC, states and taxpayers have only recently come to understand the conformity implications of the TCJA. The CARES Act modifications will present a new round of state and federal conformity challenges for states, taxpayers, and practitioners.

 
 
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What Does the CARES Act Mean to Your Mobility Program?

With the signing of the Coronavirus Aid, Relief, and Economic Security (CARES) Act by President Trump, millions of Americans are looking forward to receiving their stimulus checks. However, will your relocated employees actually receive one? The stimulus checks are to be delivered to individuals who meet certain income conditions and is phased-out for individuals over certain thresholds.

 
 
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A Checklist for Managing Patient Surge During COVID-19

As the novel coronavirus (COVID-19) pandemic continues to spread within the United States, hospitals’ top priority is providing patient care and limiting loss of life. To effectively do that, they must be able to safely and ethically address the drastic surge in patients they’re already seeing.

 
 
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SEC Staff Issues Compliance and Disclosure Interpretations on COVID-19 Filing Relief

On March 31, 2020, the SEC issued two Compliance and Disclosure Interpretations (“C&DIs” 135.12 and 135.13) to clarify the circumstances in which a registrant may take advantage of the filing relief provided in the COVID-19 exemptive orders issued earlier in March. The exemptive order issued on March 25th provides companies with an extension of the due date of 45 days to file certain SEC disclosure reports that would have been due between March 1 and July 1, 2020. 

 
 
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Healthcare Impacts of COVID-19 National Emergency Declaration

In response to the novel coronavirus (COVID-19) pandemic, President Trump declared a national emergency on March 13 to activate federal assistance and provide financial relief to hospitals and other healthcare organizations based on the Stafford Act. This act allows the federal government to provide COVID-19 funding to state and local governments so they can provide help to offset increased expenses while hospitals provide care to COVID-19 patients.

 
 
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Healthcare Takeaways from Trump’s Proposed FY21 Budget

On Feb. 10, the Trump administration released its proposed budget for FY21, focused heavily on healthcare and containing plans to reform Medicare and Medicaid. Though it’s unlikely that many of the proposals in their current form will come to fruition, CMS is likely to look to them for guidance on how to set its inpatient and outpatient rules for 2021. Depending on what the final versions of the rules look like, they could dramatically reduce payments to hospitals—already facing intense downward financial pressures.

 
 
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Small and Midsize Businesses: Act Now to Take Advantage of SBA Loans and Payroll Tax Incentives

In light of the novel coronavirus (COVID-19) global pandemic, many small-to-medium sized businesses are struggling to manage revenue losses amid prolonged economic uncertainty.  

To offset the pandemic’s financial impacts, Congress has passed several stimulus bills, including the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes provisions that can provide for increased cashflow as well as tax savings.

 
 
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CARES Act Fixes The "Retail Glitch" To Make Qualified Improvement Property Eligible For Bonus Deprecation

One of the key provisions of the newly enacted Coronavirus Aid, Relief and Economic Security (CARES) Act that will provide immediate current cash flow benefits and relief to taxpayers, especially those in the retail, restaurant, and hospitality industries, is the long sought-after fix to the “retail glitch.” Based on a technical correction under the new legislation, qualified improvement property (QIP) placed in service in 2018 and after is now 15-year property and is eligible for 100% bonus depreciation, providing many taxpayers with significant tax savings opportunities and incentivizing taxpayers to continue to invest in improvements.

 
 
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Operating Cost Reduction Strategies to Consider During Crisis Management and Recovery

In the midst of the COVID-19 crisis, operational challenges are among the top sources of pressure for businesses. Unforeseen costs, disruptions in services and, for most organizations, significant material hits to revenue are top of mind as you navigate new issues related to maintaining facilities and business functions. For these reasons, identifying and utilizing operating costs reduction opportunities is imperative.

 
 
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Be Proactive: Steps Your Business Can Take to Prepare for Economic Assistance

On March 27th, 2020, Congress passed, and the President signed into law, The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in response to the Global COVID-19 pandemic. This $2 trillion emergency funding package is designed to inject immediate liquidity into the economy on several fronts.

 
 
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The BDO Govcon Week Ahead - March 2020

Check out the latest issue of the BDO Gov Con Week Ahead for insights amid the COVID-19 pandemic.

 
 
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Retail in the Red: BDO Bi-Annual Bankruptcy Update

March is likely to mark a significant turning point in the retail industry. As the COVID-19 outbreak spreads, the industry impact will be widespread and lasting.

 
 
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Determining Restaurants’ Risk during COVID-19: A Checklist for the Restaurant Industry

On March 11, the World Health Organization (WHO) declared the novel coronavirus (COVID-19) outbreak a pandemic, with numerous countries announcing travel restrictions and social distancing measures.

 
 
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Accounting and Financial Reporting Considerations for Bank CFOs as they Navigate the COVID-19 Business Impact

Individuals that serve in an executive and leadership capacity at banks are making important operational and business decisions to keep their employees’ wellbeing a priority while mitigating organizational risk during the novel coronavirus (COVID-19) pandemic.

 
 
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President Trump Signs Into Law CARES Act

On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The CARES Act is the third round of federal government aid related to COVID-19. BDO summarized the top provisions in the new legislation below, with more detailed alerts on individual provisions to follow. Click here for a link to the full text of the bill.

 
 
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Breaking Down the CARES Act's $500 Billion Economic Stabilization Plan

On March 27, President Trump signed into law the $2 trillion “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) in order to provide “emergency assistance and health care response for individuals, families and businesses affected by the 2020 coronavirus pandemic.” The largest rescue package in American history, this historic piece of legislation includes a number of programs designed to offset the severe economic losses incurred from the COVID-19 global pandemic.

 
 
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OMB Guidance Provides Relief to Federal Award Recipients Amid COVID-19

Nonprofits and higher education institutions continue to be on the front lines of the novel coronavirus (COVID-19) pandemic. As organizations wrangle with ensuring the welfare of their own people and enabling the “new normal” of remote work, they are also contending with how to continue their mission—all while navigating funding uncertainty. 

 
 
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COVID-19 - Accounting, Reporting and Other Related Considerations

BDO recognizes the challenges financial management teams and those charged with governance are facing with respect to the dynamic situation posed by COVID-19 and the difficulty in predicting related effects on their financial reporting and communications. In addition, regulators, shareholders and other stakeholders are urging and relying on companies to ensure their financial reporting is robust in light of such circumstances.

 
 
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IRS Releases FAQs Regarding July 15, 2020, Postponed Income Tax Filing And Income Tax Payment Date

On March 20, 2020, the Internal Revenue Service released Notice 2020-18, its second round of formal guidance – postponing both the filing of federal income tax returns and the submission of federal income tax payments to July 15, 2020, which would have been due April 15, 2020. 

 
 
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Managing Your Risk During the COVID-19 Crisis

The novel coronavirus (COVID-19) pandemic has companies searching for alternative ways to conduct business. In light of CDC recommendations to practice social distancing, organizations are relying heavily on online conferencing platforms and telecommuting to sustain operations and support their customers.

 
 
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Accounting & Reporting Considerations During, and as a Result, of The Coronavirus Outbreak

With the continued spread of COVID-19 and its overwhelming effect on the global economy, we anticipate companies will experience complex accounting and reporting issues across multiple areas of their financial statements.  Companies will need to consider whether those issues, as well as operational disruptions to their overall business, rise to the level of additional required disclosures, Management’s Discussion and Analysis (“MD&A”) and/or discrete accounting recognition.

 
 
MFG_Coronavirus-Supply-Chain_Insight_3-20x350.jpg   

How Manufacturers Can Navigate the Novel Coronavirus’ Supply Chain Impacts

The novel coronavirus (otherwise known as COVID-19) crisis has struck a serious blow to the manufacturing industry, which was already battling trade policy turbulence, a slowdown in global manufacturing growth and broader economic uncertainty.

 
 
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SBA Disaster Assistance in Response to the Coronavirus – Low-Interest Loans

In response to the novel coronavirus (COVID-19) pandemic affecting the small business community across the country, the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury.

 
 
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IRS Outlines Procedures for Payroll Tax Credits and Rapid Refunds for Employers Making Federally-Mandated COVID-19 Leave Payments

The federal government is trying to get much-needed cash into the hands of employers and employees affected by COVID-19 as quickly as possible. To do so, they are utilizing employer’s existing payroll systems to minimize the employers’ cash flow hardship that might otherwise have occurred from having to pay new, mandatory federal paid sick and child care leave to certain employees.

 
 
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SEC Staff Issues Guidance on Annual Meetings

On March 13, 2020, the staff of the Division of Corporation Finance and the Division of Investment Management provided guidance to issuers regarding the annual meetings of shareholders in light of the novel coronavirus (COVID-19). 

 
 
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How To Determine If An Employer Has "Fewer Than 500 Employees" For COVID-19 Federal Paid Sick And Family Leave Mandates

The Families First Coronavirus Response Act (H.R. 6201) became law on March 18, 2020. Among other things, the Act requires employers with “fewer than 500 employees” to provide two new benefits: (1) federal emergency paid sick leave and (2) federal emergency paid family and medical leave (FMLA). As a result, employers need to know immediately how to determine if they have “fewer than 500 employees.”

 
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State COVID-19 Filing Guidance and Relief

Prior to the Internal Revenue Service (IRS) release of Notice 2020-17 on March 18, 2020, a number of states had issued extensions of time to file and/or pay business income tax and individual income tax and/or relief from late filing/payment penalties. 

  
 
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Federal Aid Package Helps Individuals Affected by COVID-19

The Families First Coronavirus Response Act (H.R. 6201), became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding.

 
 
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IRS Releases Updated COVID-19 Relief – Now Extending Filing Date and Payment

On March 20, 2020, the Internal Revenue Service released Notice 2020-18, its second round of formal guidance – this time expanding its earlier guidance (Notice 2020-17) by including relief to taxpayers for both federal income tax returns and federal income tax payments which would be due April 15, 2020. For Affected Taxpayers, the relief provides that federal income tax returns or federal income tax payments that would ordinarily be due April 15, 2020, are postponed until July 15, 2020. 

  
 

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Employers Can Immediately Provide Tax-Free Qualified Disaster Payments To Employees In Connection With COVID-19

Employers are scrambling to find ways to help their employees who are impacted by the novel coronavirus (COVID-19). Help is available. Now that the COVID-19 has been declared a national emergency,[1] Internal Revenue Code Section 139 can be used to allow employers to make tax-free payments or reimbursements to employees as “qualified disaster payments.”

 
 
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COVID-19 Data Security Insight

How companies stay resilient and can adapt in the face of COVID-19’s impact, will be a topic of discussion for many business leaders as new information continues to surface. Along with COVID-19’s impact, the changes business leaders implement to respond to the ongoing crisis may introduce unintentional security and privacy risks.

 
 
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Privacy in the Time of Pandemic

As individual enterprises look to their own practices to make decisions regarding COVID-19 and their employee’s personal data, risks will need to be evaluated.

 
 
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Novel Coronavirus (COVID-19) Impact and Risk Response Guide

This guide aims to provide insights into the relevant impacts of COVID-19. It gives general risk response guidance for companies to consider when deploying business continuity planning (BCP) measures to combat the pandemic and, more importantly, to maintain the agility to overcome the difficulties faced.

 
  
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Determining Your Infectious Disease Risk during COVID-19 Outbreak

Following this checklist can better enable you to make informed operational and strategic decisions while balancing the risks inherent to an infectious disease pandemic. Beyond that, you can use the intel gained from your self-evaluation to build your capabilities over time and support the business case for future investments in resiliency.

 
  
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Top Cybersecurity Recommendations Amid COVID-19 Pandemic

To reduce both the probability of a cyber-attack or significant data breach and mitigate the negative financial and reputational impacts, we offer cybersecurity recommendations which are applicable to all industries.

 
  
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Coronavirus Strikes Nonprofits in More Ways than One

The rapid spread of COVID-19 around the world has impacted all sectors. The nonprofit industry is no exception—in fact, they face more challenges than most. Read our latest blog for more on how organizations can minimize the risks associated with coronavirus.

 
 
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Coronavirus Could Bring New Financial Pressures to Distressed Healthcare Industry

We outline the top 3 pressure points the coronavirus is creating for the U.S. health system and how healthcare organizations can mitigate risks around them to better support patient care. 

 
 
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SEC Provides Conditional Relief and Assistance for Companies Affected by the Coronavirus

The SEC issued an exemptive order (the Order) on March 4, 2020 providing conditional relief for registrants that are impacted by the coronavirus (COVID-19) and are unable to file on a timely basis. 

  

 

RELATED BUSINESS ISSUES

 



CONTACT US

BDO is here to help. Contact us to discuss the implications COVID-19 may have on your business. 



BDO IN THE NEWS


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The Wall Street Journal | April 1, 2020 | Remote Work, Coronavirus Disruption Pose Hurdles for Auditors

SupplyChainDrive | March 31, 2020 | From Section 301 to COVID-19: How a volatile China changed supply chains

Thomson Reuters Tax & Accounting | March 31, 2020 | Are International Credit Loss Rules Flexible Enough to Weather Coronavirus Crisis?

Accounting Today | March 31, 2020 | Small businesses feeling the impact of coronavirus on job and wage growth

Hotel News Now | March 27, 2020 | Hoteliers seek to make up revenue losses from COVID-19

SHRM | March 27, 2020 | Employers Can Make ‘Disaster Payments’ to Coronavirus-Affected Employees ​

Bloomberg Tax | March 26, 2020 | Loss Provision in Virus Bill Won’t Help Most Companies This Year​

CRN | March 24, 2020 | Microsoft Giving Priority On Azure Capacity To Coronavirus Response Effort

Wall Street Journal | March 24, 2020 | Coronavirus-Hit Companies Would Get Cash Infusion Under Senate Tax Proposals

International Financial Law Review | March 23, 2020 | Covid-19: M&A Market Stalls Amid Uncertainty

Wall Street Journal | March 20, 2020 | Coronavirus Upends Retailers' Going-Out-Of-Business Sales

S&P Global | March 17, 2020 | Coronavirus could be fatal for struggling retailers facing downgrades, bankruptcy​

Journal of Accountancy | March 17, 2020 | How the coronavirus may affect financial reporting and auditing

Accounting Today | March 16, 2020 | Firms go remote at breakneck speed in response to coronavirus​

Healthcare Finance News | March 11, 2020 | Telehealth a target for venture capitalists as its potential to diagnose coronavirus grows​

Solar Magazine | March 4, 2020 | Coronavirus Hits Solar Panel Market​

TechTarget | March 4, 2020 | Manufacturing outlook hopeful despite recession fears

Wall Street Journal | March 4, 2020 | Coronavirus Could Affect How Companies Forecast Credit Losses

Wall Street Journal | March 4, 2020 | Startup Biofurmis Using AI-Based System to Battle Coronavirus

Healthcare Dive | March 4, 2020 | Hospitals Face Worries of Supply, Staff Shortages as Coronavirus Cases Tick Up

CFO | February 26, 2020 | Trade Tensions Still Vex Tax Execs

CNN Health | February 26, 2020 | Coronavirus outbreak in China could lead to 'critical' shortages of medical products in the US

Forbes | February 18, 2020 | Coronavirus Exposes Auto Industry’s Lack of Plan B

Rigzone | February 14, 2020 | Coronavirus Could Test Oil Players’ Risk and Compliance Plans

Sourcing Journal | January 31, 2020 | Retail CFOs Upbeat for 2020, But Coronavirus Looms: The Week Ahead
 
EXTERNAL CORONAVIRUS RESOURCES