Monthly Archives: July 2020

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IRS reinstates PTIN user fees

Category:Uncategorized

The IRS said it would once again begin charging fees to issue preparer tax identification numbers (PTINs) to tax return preparers for 2021. The fee was reduced in response to court cases that challenged the IRS’s authority to charge a fee.
Source: JOA News
Read More here – IRS reinstates PTIN user fees


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Show clients empathy in uncertain times

Category:Uncategorized

Two experienced CPA financial planners offer tips for reaching out to clients and helping to calm their fears.
Source: JOA News
Read More here – Show clients empathy in uncertain times


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AICPA issues nonauthoritative guidance on auditing digital assets

Category:Uncategorized

Accounting firms should consider many factors when considering whether to accept auditing engagements that involve digital assets such as cryptoassets. Nonauthoritative guidance published by the AICPA helps firms evaluate whether such engagements are worth the risks.
Source: JOA News
Read More here – AICPA issues nonauthoritative guidance on auditing digital assets


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Partnership form being redesigned for 2021

Category:Uncategorized

The IRS proposes modifying the partnership form (Form 1065) to help standardize the format of international tax items.
Source: Tax News
Read More here – Partnership form being redesigned for 2021


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Partnership form being redesigned for 2021

Category:Uncategorized

The IRS proposes modifying the partnership form (Form 1065) to help standardize the format of international tax items.
Source: JOA News
Read More here – Partnership form being redesigned for 2021


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Advice for firms thinking about reopening

Category:Uncategorized

Firms planning to reopen their offices in the near future share what steps they’re taking first, and offer advice for other organizations that have made the difficult decision to return to in-person work.
Source: JOA News
Read More here – Advice for firms thinking about reopening


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Pandemic issues for government financial statement preparers and auditors

Category:Uncategorized

The coronavirus pandemic has created numerous challenges for state and local government financial statement preparers and auditors. Many of these issues are addressed in FAQs published by the AICPA staff.
Source: JOA News
Read More here – Pandemic issues for government financial statement preparers and auditors


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Remote work after the pandemic

Category:Uncategorized

The COVID-19 pandemic forced many businesses to rapidly ramp up their reliance on remote work, and many employees will continue to work from home even after offices reopen. Jim Boomer, CPA/CITP, and Jessica Battaglia share advice for crafting a long-term remote work strategy.
Source: JOA News
Read More here – Remote work after the pandemic


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A product pivot and PPP success in the early days of the pandemic

Category:Uncategorized

A pivot to producing a different type of alcohol as well as successful application for a PPP loan meant that Sons of Liberty could continue to pay its staff and gave it time to reimagine its business model.
Source: JOA News
Read More here – A product pivot and PPP success in the early days of the pandemic


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SBA closes EIDL Advance program after granting $20 billion

Category:Uncategorized

The U.S. SBA closed the Economic Injury Disaster Loan Advance program after exhausting the $20 billion in funding provided by Congress.
Source: JOA News
Read More here – SBA closes EIDL Advance program after granting billion