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The IRS issued regulations explaining the allowance of deductions for certain fines and penalties under Sec. 162(f) as amended by the law known as the Tax Cuts and Jobs Act.
Source: Tax News
Read More here – Proposed rules govern deductions and reporting for restitution
The IRS issued regulations explaining the allowance of deductions for certain fines and penalties under Sec. 162(f) as amended by the law known as the Tax Cuts and Jobs Act.
Source: JOA News
Read More here – Proposed rules govern deductions and reporting for restitution
The number of small businesses receiving Paycheck Protection Program loans can be linked to the number that had bank financing before the pandemic, data from the Federal Reserve Bank of New York shows.
Source: JOA News
Read More here – A tale of the PPP tape: Why relationship building matters
In response to the coronavirus pandemic, the IRS is allowing employers to permit their employees to change their health coverage elections or dependent care elections during the year and is extending the carryover period for health flexible spending arrangement (FSA) expenses.
Source: Tax News
Read More here – IRS allows midyear changes to health coverage, dependent care elections
In response to the coronavirus pandemic, the IRS is allowing employers to permit their employees to change their health coverage elections or dependent care elections during the year and is extending the carryover period for health flexible spending arrangement (FSA) expenses.
Source: JOA News
Read More here – IRS allows midyear changes to health coverage, dependent care elections
The AICPA joined with other organizations that advocate for small businesses to urge the US Small Business Administration to provide clarity related to Paycheck Protection Program funds.
Source: JOA News
Read More here – AICPA, small business advocates call for clarity in PPP rules
Here’s a rundown of the relief the CARES Act offers for student loan borrowers, who is eligible for it and what clients can do if they’re not covered by the CARES Act or if they’ve become unemployed or had their hours reduced.
Source: JOA News
Read More here – Options for clients with student loans during the pandemic
Accountants can remind clients of bad actors who pop up in times of crisis.
Source: JOA News
Read More here – Be wary of charity requests in wake of COVID-19
Employee stock ownership plans, their sponsors, and auditors all face new challenges and risks related to the coronavirus pandemic.
Source: JOA News
Read More here – Coronavirus concerns for ESOPs and ESOP auditors
The IRS announced that taxpayers for whom the Service does not have direct deposit information should go to its “Get My Payment” website and enter that information by noon on Wednesday, May 13, so they can receive their stimulus payments electronically.
Source: Tax News
Read More here – Taxpayers must act soon for direct deposit of stimulus payments
