CPA Never under estimate the value
The IRS issued guidance clarifying that a deduction is disallowed for expenses for payroll costs, mortgage interest, rent, utilities, and other interest on debt obligations to the extent they are being reimbursed by loans forgiven under the Paycheck Protection Program.
Source: Tax News
Read More here – Expenses reimbursed by Paycheck Protection Program are nondeductible
The IRS issued guidance clarifying that a deduction is disallowed for expenses for payroll costs, mortgage interest, rent, utilities, and other interest on debt obligations to the extent they are being reimbursed by loans forgiven under the Paycheck Protection Program.
Source: JOA News
Read More here – Expenses reimbursed by Paycheck Protection Program are nondeductible
The AICPA Auditing Standards board formally extended the effective dates Friday of seven new auditing standards because of concerns related to the coronavirus pandemic.
Source: JOA News
Read More here – ASB formally issues deferral of effective dates
