The IRS is temporarily allowing taxpayers to submit requests for private letter rulings, closing agreements, determination letters and information letters electronically instead of by mail.
Source: Tax News
Read More here – PLR and other requests for IRS guidance can now be sent electronically
The IRS is temporarily allowing taxpayers to submit requests for private letter rulings, closing agreements, determination letters and information letters electronically instead of by mail.
Source: JOA News
Read More here – PLR and other requests for IRS guidance can now be sent electronically
As the coronavirus pandemic became a public health menace and damaged the economy, the AICPA took the lead in advocating for relief on behalf of the accounting profession and the public.
Source: JOA News
Read More here – AICPA tackles many issues in coronavirus advocacy
Taxpayers with qualified property must act to take advantage of changes to the treatment of qualified improvement property, which is now eligible for bonus depreciation. Here are some considerations for taxpayers and their advisers.
Source: Tax News
Read More here – CARES Act QIP change requires action
Taxpayers with qualified property must act to take advantage of changes to the treatment of qualified improvement property, which is now eligible for bonus depreciation. Here are some considerations for taxpayers and their advisers.
Source: JOA News
Read More here – CARES Act QIP change requires action
From 4 p.m. until midnight ET, the application window will be open exclusively to lenders with less than $1 billion in assets.
Source: JOA News
Read More here – SBA to accept PPP loans only from smallest lenders for 8 hours today
The AICPA issued a series of recommendations it would like to see the U.S. Small Business Administration adopt and issue as guidance for small businesses to use in calculating loan forgiveness under the Paycheck Protection Program (PPP).
Source: JOA News
Read More here – AICPA makes PPP loan forgiveness recommendations
Treasury and the U.S. Small Business Administration said they will no longer accept Paycheck Protection Program (PPP) loan applications prepared by robotic process automation (RPA) systems.
Source: JOA News
Read More here – SBA, Treasury ban use of RPA to submit PPP loans
The AICPA, citing a continuing need for short-term liquidity in the marketplace, recommended the creation of a federally backed lending facility that would provide loans to small businesses that pledge their future receivables.
Source: JOA News
Read More here – AICPA recommends federal loans backed by accounts receivable
FASB’s staff published Q&As to address issues related to hedge accounting during the coronavirus pandemic.
Source: JOA News
Read More here – FASB staff Q&As address hedge accounting amid the pandemic
