CPA Never under estimate the value
The year-end coronavirus relief and spending bill passed by Congress includes many tax provisions, including pandemic-related relief, extensions of expired provisions, and a large number of miscellaneous items, including temporary 100% deductibility for business meals.
Source: JOA News
Read More here – Many tax provisions appear in year-end coronavirus relief bill
The AICPA has published a white paper designed to help practitioners perform SOC for Service Organization reports on companies that use blockchain to deliver services to customers.
Source: JOA News
Read More here – AICPA white paper tackles blockchain and SOC for Service Organization reports
Updating the rules governing practice before the IRS is one of the goals of the IRS Office of Professional Responsibility for the new year, its director says.
Source: Tax News
Read More here – Circular 230 update planned for 2021
Updating the rules governing practice before the IRS is one of the goals of the IRS Office of Professional Responsibility for the new year, its director says.
Source: JOA News
Read More here – Circular 230 update planned for 2021
The $900 billion COVID-19 relief package passed Monday provides $284 billion for a revised Paycheck Protection Program (PPP) and clarifies that businesses can claim tax deductions for expenses paid for with forgiven PPP loans.
Source: JOA News
Read More here – COVID-19 relief bill addresses key PPP issues
Divestitures, spinoffs and carveouts are business strategies that may be pursued by more companies amid the economic fallout from the coronavirus pandemic. These tips can assist in the accounting for these moves.
Source: JOA News
Read More here – 5 accounting considerations for divestitures and carveouts
The IRS announced procedures for identifying and recovering direct deposit refunds that a taxpayer did not receive in the designated account.
Source: Tax News
Read More here – IRS regs. govern misdirected refund claims
The IRS announced procedures for identifying and recovering direct deposit refunds that a taxpayer did not receive in the designated account.
Source: JOA News
Read More here – IRS regs. govern misdirected refund claims
FASB issued a proposal that would permit certain private companies and not-for-profits to elect not to perform goodwill assessments related to triggering events.
Source: JOA News
Read More here – FASB proposes goodwill evaluation relief for some private companies, NFPs
The economic slump resulting from the pandemic has increased the risk of asset write-downs and added to the pressure on auditors to scrutinize impairment models. Company boards also are paying more attention to forecasting and impairment.
Source: JOA News
Read More here – Forecasting and impairment tips for an unprecedented time
