AICPA Issues COVID-19-Related FAQs for Health Care Industry

The AICPA has issued an FAQ document to provide information on the COVID-19 pandemic to entities in the health care industry. The document focuses on the following six topics: (1) Paycheck Protection Program loans, (2) taxability of forgiveness income and expenses, (3) CPA services to a client, (4) FEMA funding, (5) 2020 payroll tax deferral under the CARES Act, and (6) the employee retention credit.