The IRS warned taxpayers that identity thieves are fraudulently claiming state unemployment benefits using stolen taxpayer identities. Here is what taxpayers should do if they receive a Form 1099-G reporting state unemployment benefits they did not receive.
Source: Tax News
Read More here – Beware of identity theft scam involving unemployment benefits
The IRS warned taxpayers that identity thieves are fraudulently claiming state unemployment benefits using stolen taxpayer identities. Here is what taxpayers should do if they receive a Form 1099-G reporting state unemployment benefits they did not receive.
Source: JOA News
Read More here – Beware of identity theft scam involving unemployment benefits
FASB issued a standard that simplifies revenue recognition for pre-opening activities for private company franchisors.
Source: JOA News
Read More here – FASB simplifies revenue recognition for private company franchisors
The IRS issued guidance on two aspects of the employee retention credit — how to claim the credit when filing the fourth quarter Form 941 when the taxpayer knows its loan under the PPP will not be forgiven and how the newly extended and amended employee retention credit will apply.
Source: Tax News
Read More here – Employee retention credit changes leave practitioners with questions
The IRS issued guidance on two aspects of the employee retention credit — how to claim the credit when filing the fourth quarter Form 941 when the taxpayer knows its loan under the PPP will not be forgiven and how the newly extended and amended employee retention credit will apply.
Source: JOA News
Read More here – Employee retention credit changes leave practitioners with questions
Amid a pandemic-related surge in online shopping, identity theft poses a more significant risk to consumers. Nearly 1 in 5 Americans experienced identity theft attempts, according to a new AICPA survey.
Source: JOA News
Read More here – Identity theft a risk to consumers as online purchases increase
Remote auditing, new risks, going concern issues and changes in internal controls give not-for-profit auditors a long list of challenges to meet as a result of the pandemic. Here’s what practitioners should keep in mind.
Source: JOA News
Read More here – Not-for-profit auditors face new challenges amid pandemic
The SBA said that it is taking steps to improve the agency’s first-draw Paycheck Protection Program loan review process so that small businesses seeking a second-draw loan have as much time as possible to access those funds.
Source: JOA News
Read More here – SBA announces steps to improve PPP review process
A new round of Paycheck Protection Program funding is available for businesses affected by the pandemic. Here’s what CPAs and business leaders need to know to get the funding they need.
Source: JOA News
Read More here – 6 tips for CPAs on newest round of PPP funding
Errors by partnerships in reporting partners’ tax capital accounts under new rules for 2020 may be excused, the IRS outlined.
Source: Tax News
Read More here – Partner capital account reporting gets transition penalty relief
