CPA Never under estimate the value
The IRS announced that it will start accepting 2020 tax returns on Feb. 12, a later date than usual. The delay stems from programming changes needed to account for year-end tax legislation.
Source: JOA News
Read More here – Tax filing season to start Feb. 12, IRS announces
Licensed CPAs can apply for individual .cpa domains beginning Jan. 15, the AICPA announced. Thousands of firms and approved organizations applied for the top-level domain during their application window, which was open from Sept. 1.
Source: JOA News
Read More here – Individual CPAs can apply for .cpa web domain Friday
New procedural guidance from the SBA outlines the processes Paycheck Protection Program borrowers and their lenders must follow to reapply for a first-draw PPP loan or request an increase to a loan approved by Aug. 8, 2020, which is when the first iteration of PPP stopped accepting applications.
Source: JOA News
Read More here – Guidance issued for PPP first-draw loan increases, reapplications
Lenders with $1 billion or less in assets can start making Paycheck Protection Program loans on Friday, the U.S. Small Business Administration and Treasury announced. The application window will open for all lenders Jan. 19.
Source: JOA News
Read More here – PPP application dates announced
The AICPA said Wednesday that it expects SBA and Treasury to open the Paycheck Protection Program’s application window to all lenders by Friday. The AICPA is also encouraging firms to advance the application process for small business clients seeking relief.
Source: JOA News
Read More here – AICPA encourages firms to aggressively advance PPP applications
Fraud risks have increased as a result of the coronavirus pandemic. A new report by the Anti-Fraud Collaboration provides strategies for mitigating those risks.
Source: JOA News
Read More here – Deterring and detecting fraud at a time of heightened risk
The IRS issued final regulations on when fines and penalties paid to a government are not deductible by a taxpayer, including defining when a payment counts as restitution, which may be deductible.
Source: Tax News
Read More here – Final regs. govern deductibility of fines and penalties
The IRS issued final regulations on when fines and penalties paid to a government are not deductible by a taxpayer, including defining when a payment counts as restitution, which may be deductible.
Source: JOA News
Read More here – Final regs. govern deductibility of fines and penalties
The IRS issued final regulations on the excise tax on excess remuneration over $1 million paid by tax-exempt organizations, finalizing proposed regulations with a few changes in response to comments.
Source: Tax News
Read More here – Final rules on exempt organization excess remuneration
The IRS issued final regulations on the excise tax on excess remuneration over $1 million paid by tax-exempt organizations, finalizing proposed regulations with a few changes in response to comments.
Source: JOA News
Read More here – Final rules on exempt organization excess remuneration
