COVID-19 Resource Center

COVID-19 is affecting us all. PKF O’Connor Davies is committed to supporting our staff, clients and the community in grappling with the effects of this global pandemic. Below you’ll find information and resources that may help you make sound, fact-based decisions. We will post updates as news arises that may affect your financial situation, business operations and strategic planning. We encourage you to reach out to PKF O’Connor Davies professionals for ongoing guidance and assistance.

Read the Latest News  

Questions about effects on your business?

Connect with us to learn more.

Click Here to Access Our COVID-19 Resource Center

If you didn’t realize this before, cyber criminals have unlimited felonious imaginations and unmitigated gall, this issue of Cyber Roundup will certainly confirm that.

While organizations continue to adapt their operating practices during the ongoing pandemic and associated recession, it is clear that some of the challenges executives and Boards face are, in fact, significant risks that could result in reputational damage, regulatory compliance failures, fraud as well as financial loss.

The U.S. Small Business Administration (SBA) announced last week that it will be issuing Loan Necessity Questionnaires to Paycheck Protection Program (PPP) Borrowers that, together with their affiliates, received PPP loans with an original principal amount of $2 million or more.

Plan sponsors should review the cost of living adjustments (COLAs) to determine what, if any, changes need to be communicated to employees by means of orientation meetings and enrollment forms.

Finance Memorandum 20-6 issued by the New York City Department of Finance sets forth that NYC’s Business Corporation Tax (BCT), General Corporation Tax (GCT), Unincorporated Business Tax (UBT), and Banking Corporation Tax (BTX) are decoupled from CARES Act Amendments to IRC §163(j), IRC §172 and IRC §461(l). Our prior article, here, discussed how NYS and NYC had decoupled from certain CARES Act tax provisions.