COVID-19 Resources

Critical Updates
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Updates

Reopening Guidelines for Businesses & Office Settings

Last week, Governor Whitmer released two executive orders detailing the guidelines for allowing individuals to go back to a traditional office setting (EO-92) and those for businesses (EO-97) that reside in Regions 6 and 8. The outlined requirements will likely be similar for the rest of the state when the reopening process begins. Businesses should expect to be required to develop a COVID-19 preparedness and response plan inclusive of employee training, cleaning protocols and social distancing measures.

The MICPA will continue to monitor the Governor’s decisions regarding re-engaging the economy and will communicate any updates as they become available.

 

Member Alert- Governor Issues Executive Order

Referred to as the “Stay Home, Stay Safe Order,” Executive Order No. 2020-2 issued by Governor Whitmer temporarily requires the suspension of all activities that are not necessary to sustain or protect life.

Section 8 of the Executive Order defines critical infrastructure workers as those described by the U.S. Cybersecurity and Infrastructure Security Agency's March 19, 2020 guidance on the COVID-19 response. Section 8 (l) lists financial services as a sector in which some workers could be considered essential to the extent such employees meet the outlined criteria

Like many other industries and trade associations, MICPA continues to seek further guidance and clarification from the State of Michigan with regard to whether the Executive Order applies to MICPA’s members. We will continue to update members as we receive more information.

Please note that many local and county governments have issued orders that impose additional restrictions on residents and businesses.  Please ensure that you also review and comply with those orders if your business is a critical infrastructure business that will remain open.

 

Automatic Extension for CPA Exam Testing Window

Due to the COVID-19 pandemic and associated social distancing guidelines, Prometric Testing Centers have closed through at least May 31st for all testing programs. Currently, CPA examination candidates are required to request an extension from the Department of Licensing and Regulatory Affairs (LARA) of the rolling 18-month examination window. LARA in partnership with the Michigan State Board of Accountancy will provide for an automatic extension of the 18-month rolling window to September 30, 2020 for those candidates with window expirations between April 1 and June 30, 2020. This is being done to be consistent with the allowance also offered by the National Association of State Boards of Accountancy (NASBA).  Read More

LARA/BPL Communication Regarding CPA Exam Extensions due to COVID-19.  Read More

 

Second Round PPP Funding for MI Small Businesses

The Whitmer administration along with the Small Business Association of Michigan (SBAM) and Michigan Association of Certified Public Accountants (MICPA) announced today that businesses across Michigan are now able to apply for an additional $310 billion in Paycheck Protection Program forgivable loans through the U.S. Small Business Administration.  Read More

The AICPA’s revised PPP Loan Forgiveness calculator is now available.  Download Now

 

MICPA Requests PPP Loan Forgiveness Calculation Guidance

With the lack of available guidance becoming a significant issue for CPAs and their clients, the MICPA sent a letter last week on behalf of members urging the Michigan delegation in the US House and Senate to reach out to the U.S. Treasury Department and the Small Business Administration to request immediate release of key guidance on the Paycheck Protection Program loan forgiveness calculation. The request included recommendations to simplify the implementation and execution of the PPP and stressed the immediacy of this need.  Read Full Letter

 

Does Your Business Qualify for the Employee Retention Credit?

Yesterday, the U.S. Treasury Department and Internal Revenue Service officially launched the Employee Retention Credit, a provision of the CARES Act. Businesses financially impacted by COVID-19, either from mandated closure or significant reduction in gross receipts could be eligible for a refundable tax credit for 50% of up to $10,000 in wages paid during the pandemic.  Read More

 

 

Virtual Roundtables

200518 Work Share Program - Web Tile (1)
200520 Connect - Web Tile

 

200421 Trion Tile

 

200408 Coronavirus Webinar - Tile 362X231

 

200507 CPA License Requirements - Tile

As provided under the legislation, the U.S. Department of Labor will be issuing implementing regulations.

 Read FAQs

 

Referred to as the “Stay Home, Stay Safe Order,” Executive Order No. 2020-2 issued by Governor Whitmer temporarily requires the suspension of all activities that are not necessary to sustain or protect life.

Section 8 of the Executive Order defines critical infrastructure workers as those described by the U.S. Cybersecurity and Infrastructure Security Agency's March 19, 2020 guidance on the COVID-19 response. Section 8 (l) lists financial services as a sector in which some workers could be considered essential to the extent such employees meet the outlined criteria

Like many other industries and trade associations, MICPA continues to seek further guidance and clarification from the State of Michigan with regard to whether the Executive Order applies to MICPA’s members. We will continue to update members as we receive more information.

Please note that many local and county governments have issued orders that impose additional restrictions on residents and businesses.  Please ensure that you also review and comply with those orders if your business is a critical infrastructure business that will remain open. 

 

Treasury Secretary Steve Mnuchin announced that Tax Day is being pushed back until July while the nation copes with the effects of the COVID-19. “All taxpayers and businesses will have this additional time to file or make payments without interest or penalties,” Mnuchin tweeted.

 IRS Tax Filing Extension FAQ

 

 

The IRS just released Notice 2020-18 providing additional details to the postponement of the individual filing deadline. Read The News Article

Governor Whitmer will extend the state tax deadline to July 15, 2020

 Read the Letter

 

 

A word from MICPA President & CEO Designate Bob Doyle

 Read the Letter

 

 

View additional resources from the CARES Act and PPP roundtable.

 Read More

 

 

Assisting an attest client with a COVID-19 PPP loan application is a nonattest service. If CPAs comply with the ...

 Read More

 

 

Business Loan Program Temporary Changes; Paycheck Protection Program – Additional Eligibility Criteria and Requirements for Certain Pledges of Loans.

 Read More

 

 

MICPA and AICPA provide answers to common tax filing and PPP questions in this FAQ.

 Read FAQs

 

 

Michigan Department of Treasury released a notice that provides taxpayers with additional guidance related to the state and income tax filing extension (EO 2020-26) announced on March 27 and the IRS Notice 2020-23 issued on April 9.

 Read FAQs

 

 

CPE Earning Update

 

LARA Lifts Self-Study Cap for the Remainder of the CPE Earning Period
The Department of Licensing and Regulatory Affairs (LARA) has lifted the 50% self-study cap on continuing education credits for the continuing education period ending June 30, 2020. Learn More

 

State of Michigan will Recognize all Electronic CPE
For the continuing education period ending June 30, 2020, the State of Michigan will recognize all CPE that is taken through all electronic means, including webinars, self-study, e-learning, relative to the fulfillment of CPA license renewal requirements for accounting and auditing (A&A), ethics (including Michigan Specific Ethics) and general education (other hours). Find an online course today

 

MICPA CPE
All in person courses and conferences through June 30, 2020 have been moved to an online format or postponed. Please visit the MICPA CPE Learning Center for the latest information and schedule. MICPA CPE Learning Center

How MICPA is Advocating for Michigan CPAs

 

State Tax Filing Deadline
The MICPA has reached out to the Treasury Department and sent a letter to Governor Whitmer urging Michigan to follow the IRS’s action regarding the state tax filing deadline.   Read Letter

CPA Essential Services
The MICPA sent a letter to Governor Whitmer requesting that the CPA profession be included in the list of essential critical infrastructure workplace exemptions.  Read Letter