Resources for the Public

COVID-19 Information for CPAs

Governor Bullock's Mask Mandate

July 152020 marked both Tax Day and Mask Day for Montana.  For counties with 4 or more confirmed active cases entities are required to take reasonable measures to ensure everybody wears face coverings.  This includes providing face coverings for employees and volunteers and posting a sign that reads “Mask or face covering use required for ages five and older.”

https://covid19.mt.gov/Portals/223/Documents/Mask%20Directive%20FINAL.pdf?ver=2020-07-15-140109-633

Click the following for signage - Mask or face covering use required for ages five and older

Montana Department of Revenue COVID Resources

Click on this LINK: https://mtrevenue.gov/ and then click on this photo:

COVID DOR Resources

Montana Department of Labor & Industry Recommendations for Workplaces/Employers

The COVID-19 emergency is now impacting the work and personal lives of Montanans throughout our state. The Montana Department of Labor & Industry is closely following the changing dynamics and policies at the state and federal level. This page will be regularly updated to share updated information. 

The MT DOL has issued extensive guidance for individuals and employers.

Stimulus Package

Congress has passed and President Trump has signed a historic $2 trillion stimulus package, which includes checks sent to individuals and a number of disaster relief options available for businesses of all sizes. Here's a look at the stimulus package, by the numbers

Internal Revenue Service

Paid Leave

  • As part of the Families First Coronavirus Response Act, most employers with under 500 employers will be required to offer ten paid sick days for each full-time employee. Those employers will also be required to pay two-thirds of a worker’s wages if they need to stay home and care for a child whose school or daycare is closed.
  • Part-time employees will be provided time off proportional to their hours worked.
  • The cost to employers to provide paid leave will be fully reimbursed by the federal government with a payroll tax credit.
  • Individuals who are self-employed will be given tax relief equivalent to these benefits.
  • For more information on how to businesses should implement these benefits or find out if you’re eligible, see this guidance from the IRS.

Banking and Loans

Apply for Small Business Administration (SBA) Disaster Loan Assistance

  • Federal disaster loans are available for businesses, private nonprofits, homeowners, and renters.
     
  • Small businesses and nonprofit organizations in Montana that have been negatively impacted by the global COVID-19 outbreak are eligible for disaster relief loans of up to $2 million from the SBA.
     
  • Get more information on SBA disaster assistance in response to the coronavirus.

PPP

IRS Broader Relief Statement

CPAs Acting as Agents for PPP

AICPA Recommendations PPP Lender Docs

Notice 2020-23

CARES Act tax provisions aim to stabilize pandemic-ravaged economy

The Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748, which passed the Senate by a 96-0 vote late on Wednesday, contains a host of tax measures as part of a $2 trillion aid package designed to help the economy as it suffers from the effects of the coronavirus pandemic. While the focus of the legislation is not tax, a large number of tax provisions are included in the over-600-page bill.  Additional information.  

MISC

Peer Review and COVID-19

Montana Roots

Connect with Peers - MT Roots

Many of you are probably curious about what your peers are doing and how you can better help your clients.

To give you a safe space to share your concerns, questions, and recommendations, please join the conversation in MT Roots.  Go to mtroots.org and use your MSCPA login credentials or contact molly@mscpa.org if you experience any difficulties logging in. 

Additional Resources:

AICPA Coronavirus (COVID-19) Resource Center - . Check it out here

Coronavirus (COVID-19) Audit and Accounting Resources - COVID A&A

GASB Proposes to Postpone Effective Dates - Learn more

 

COVID-19 Webinar Opportunities

Click here for a list of training opportunities.

The coronavirus situation is changing every day, and Governor Steve Bullock is issuing executive orders affecting Montana residents and businesses several times a week. For the latest information, resources, and guidance related to coronavirus (COVID-19), visit https://covid19.mt.gov/ 

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