CPA Never under estimate the value
The FASB voted to delay the effective date of its revenue recognition standard for nonpublic entities that have not yet issued their financial statements. Challenges related to the coronavirus pandemic led to the delay.
Source: JOA News
Read More here – FASB delays revenue recognition effective date for private companies
Now, more than ever, it’s important to ensure clients’ wills, health care powers of attorney, and other estate planning documents are current.
Source: JOA News
Read More here – Essential documents clients must update during COVID-19
With many taxpayers still having problems using the Internal Revenue Service’s “Get My Payment” website, the IRS announced that it is mobilizing 3,500 telephone representatives to answer some of the most common questions about economic impact payments.
Source: Tax News
Read More here – IRS mobilizing 3,500 phone operators to answer stimulus questions
With many taxpayers still having problems using the Internal Revenue Service’s “Get My Payment” website, the IRS announced that it is mobilizing 3,500 telephone representatives to answer some of the most common questions about economic impact payments.
Source: JOA News
Read More here – IRS mobilizing 3,500 phone operators to answer stimulus questions
Strong oversight from audit committees can help companies stay on the right track as they work to survive and thrive through the coronavirus pandemic. These tips can help audit committees serve effectively.
Source: JOA News
Read More here – Tips for audit committees during the pandemic
An application form and instructions released by the US Small Business Administration are designed to assist borrowers as they apply for Paycheck Protection Program loan forgiveness.
Source: JOA News
Read More here – SBA releases PPP forgiveness form but AICPA urges more detail
Take this quiz to find out if you’re prepared to navigate issues such as remote audit procedures and going concern evaluations amid the pandemic.
Source: JOA News
Read More here – Quiz: Are you ready to audit during the pandemic?
The U.S. Small Business Administration (SBA) issued a new interim final rule opening the door for lenders to increase existing Paycheck Protection Program loans to partnerships and seasonal employers.
Source: JOA News
Read More here – SBA allows increased PPP loans to partnerships, extends safe harbor to May 18
The AICPA Auditing Standards Board delayed the effective dates of seven new standards as a result of the coronavirus pandemic. Here’s what auditors need to know about the standards and their delay.
Source: JOA News
Read More here – What CPAs should consider before deferring ASB reporting standards
The IRS has issued final regulations addressing when certain related-party interests in corporations should be treated as stock vs. debt.
Source: Tax News
Read More here – Final regs. clarify when interest in corporation is stock vs. debt
