CPA Never under estimate the value
Religious organizations are vulnerable to fraud precisely because of the tenets of trust and forgiveness that define them, and the pandemic has led to increased risks. CPAs are in a position to advise churches on steps they can take to reduce fraud risk without compromising their principles.
Source: JOA News
Read More here – How a church can prevent fraud without compromising its values
The U.S. Small Business Administration will reopen the Shuttered Venue Operators Grant (SVOG) application portal on Saturday, April 23.
Source: JOA News
Read More here – SBA to reopen Shuttered Venue Operators Grant portal Saturday
The IRS issued guidance on a safe harbor permitting qualifying taxpayers who have PPP loans, who did not deduct expenses related to those loans paid or incurred in 2020 on their 2020 returns, to deduct the expenses on their returns for the immediately subsequent tax year, instead of on an amended return or administrative adjustment request for the 2020 tax year.
Source: Tax News
Read More here – Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns
The IRS issued guidance on a safe harbor permitting qualifying taxpayers who have PPP loans, who did not deduct expenses related to those loans paid or incurred in 2020 on their 2020 returns, to deduct the expenses on their returns for the immediately subsequent tax year, instead of on an amended return or administrative adjustment request for the 2020 tax year.
Source: JOA News
Read More here – Expenses paid with 2020 PPP loans can be deducted on 2021 tax returns
There are many legal and human resources considerations firms must weigh before crafting a vaccine policy for their staff.
Source: JOA News
Read More here – Can accounting firms mandate vaccines?
In response to the coronavirus pandemic, the IRS issued guidance extending the temporary authorization to issue a number of IRS forms using electronic signatures from June 30, 2021, through Dec. 31, 2021.
Source: Tax News
Read More here – IRS extends e-signature authorization for 6 months
In response to the coronavirus pandemic, the IRS issued guidance extending the temporary authorization to issue a number of IRS forms using electronic signatures from June 30, 2021, through Dec. 31, 2021.
Source: JOA News
Read More here – IRS extends e-signature authorization for 6 months
The US House of Representatives passed a bill that would prevent federal prosecution of a depository institution providing banking services to a legitimate cannabis business. Protections also would be provided to provision of ancillary services that are expected to be interpreted to include CPA services.
Source: JOA News
Read More here – House passes bill protecting banking services for legal cannabis
The Restaurant Revitalization Fund aid program’s application portal will be tested in a seven-day pilot ahead of the application’s launch. The SBA revealed key details for the program, including funding calculations.
Source: JOA News
Read More here – Restaurant Revitalization Fund details come into focus
For-profit entities are permitted to use the not-for-profit conditional contribution accounting model to account for Paycheck Protection Program loans. The accounting requires reasoned judgment, careful evaluation of barriers and thorough documentation.
Source: JOA News
Read More here – Tips for for-profits applying NFP accounting rules for PPP funds
