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The AICPA Peer Review Board voted to grant automatic six-month extensions for peer reviews, corrective actions and implementation plans with original due dates between Jan. 1 and Sept. 30 of this year.
Source: JOA News
Read More here – 6-month delay granted for peer reviews
The AICPA has made a broad range of legislative recommendations to encourage economic recovery in the wake of the COVID-19 pandemic.
Source: Tax News
Read More here – AICPA proposes broad range of tax relief to aid economic recovery
The AICPA has made a broad range of legislative recommendations to encourage economic recovery in the wake of the COVID-19 pandemic.
Source: JOA News
Read More here – AICPA proposes broad range of tax relief to aid economic recovery
The safe-harbor period for returning Paycheck Protection Program funds has been extended through May 14 by the US Small Business Administration.
Source: JOA News
Read More here – SBA extends safe harbor for returning PPP funds
As a result of the coronavirus pandemic, the AICPA Professional Ethics Executive Committee voted to extend by one year the effective dates of AICPA ethics interpretations on information systems services, state and local government client affiliates and leases.
Source: JOA News
Read More here – Effective dates extended for 3 AICPA ethics interpretations
A bill introduced in the Senate would clarify that ordinary expenses funded by Paycheck Protection Program (PPP) loans are deductible by taxpayers. If enacted, this would overrule a recent IRS notice saying the expenses are not deductible.
Source: Tax News
Read More here – AICPA supports bill that would make PPP-funded expenses deductible
A bill introduced in the Senate would clarify that ordinary expenses funded by Paycheck Protection Program loans are deductible by taxpayers. If enacted, this would overrule a recent IRS notice saying the expenses are not deductible.
Source: JOA News
Read More here – AICPA supports bill that would make PPP-funded expenses deductible
A new accounting standard for federal government entities is designed to define the concept of materiality more precisely.
Source: JOA News
Read More here – Materiality concepts clarified for federal entities
Responding to the coronavirus pandemic, the SEC said it has temporarily amended rules to provide established smaller companies with opportunities to meet their urgent funding needs through Regulation Crowdfunding.
Source: JOA News
Read More here – SEC temporarily expands access to crowdfunding
The SBA announced that agricultural businesses are now eligible for the EIDL and EIDL Advance programs.
Source: JOA News
Read More here – EIDL loan portal reopens for agricultural businesses only
