CPA Never under estimate the value
The IRS has issued final regulations addressing when certain related-party interests in corporations should be treated as stock vs. debt.
Source: JOA News
Read More here – Final regs. clarify when interest in corporation is stock vs. debt
The US Small Business Administration issued guidance stating that businesses that together with their affiliates accepted Paycheck Protection Program loans totaling less than $2 million will be assumed to have certified their loans in good faith.
Source: JOA News
Read More here – SBA provides safe harbor for PPP loans under million
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
