CPA Never under estimate the value
The Senate passed a House bill that gives small businesses and other entities that received loans from the Paycheck Protection Program 16 additional weeks to spend the funds and qualify for full forgiveness of the loans.
Source: JOA News
Read More here – PPP forgiveness changes coming as Senate passes House bill
In another response to the COVID-19 pandemic, the IRS is allowing retirement plan participants who want to take coronavirus-related distributions from their retirement plans to provide remote signatures, even for spousal consents.
Source: Tax News
Read More here – IRS permits remote signatures for plan loan consents
In another response to the COVID-19 pandemic, the IRS is allowing retirement plan participants who want to take coronavirus-related distributions from their retirement plans to provide remote signatures, even for spousal consents.
Source: JOA News
Read More here – IRS permits remote signatures for plan loan consents
FASB issued an option to delay implementation of the board’s revenue recognition and lease accounting standards for certain entities that have not yet applied the standards.
Source: JOA News
Read More here – FASB issues limited revenue recognition, lease accounting delays
Legislation designed to help businesses during the coronavirus pandemic has created new issues for CPAs and other valuation specialists to consider. New AICPA FAQs address these valuation concerns.
Source: JOA News
Read More here – How the CARES Act has affected business valuation
CPAs can help thwart bad actors from cashing in on seniors during the global pandemic.
Source: JOA News
Read More here – Protecting seniors from COVID-19 fraud
The US House passed a bill that would relax some of the requirements that Paycheck Protection Program fund recipients need to fulfill to qualify for forgiveness from their loans.
Source: JOA News
Read More here – House passes bill that would relax PPP forgiveness requirements
The IRS announced that taxpayers will be able to electronically file Forms 1040-X, Amended U.S. Individual Income Tax Return, later this summer.
Source: Tax News
Read More here – E-filing of Form 1040-X coming this summer
The IRS announced that taxpayers will be able to electronically file Forms 1040-X, Amended U.S. Individual Income Tax Return, later this summer.
Source: JOA News
Read More here – E-filing of Form 1040-X coming this summer
Paycheck Protection Program Round 2 funding worth $10 billion is being set aside for Community Development Financial Institutions, which work with underserved communities.
Source: JOA News
Read More here – billion from PPP pledged to lenders to underserved communities
