The Latest

The Internal Revenue Service and the Treasury Department provided guidance to employers requiring them to report the amount of qualified sick and family leave wages they have paid to their employees under the Families First Coronavirus Response Act on Form W-2.

The Financial Accounting Standards Board released a proposed accounting standards update to help insurance companies adversely affected by the COVID-19 pandemic by giving them an extra year to implement the long-duration insurance accounting standard.

The company has established a fund that will provide capital, technical assistance and long-term recovery support to small businesses, especially minority-owned companies. The other megabanks are expected to donate their fees, also.

2020 is testing the profession’s resiliency like nothing has before, and accountants are losing sleep, skipping vacations, and working longer hours to adapt to the challenges COVID-19 has brought.

The New York commercial bank says geographic diversification is a long-term necessity and that the interplay of its private banking and commercial banking businesses has helped it withstand the economic shock of the coronavirus.

The service reminded taxpayers they will need to resume paying their taxes on July 15, but the AICPA is asking for further relief, as an inspector general report sheds light on the unprecedented filing season.

The Institute of Internal Auditors and the International Federation of Accountants are calling on audit committees to be vigilant about risk management, performance, controls and processes during the COVID-19 pandemic.

The explosion in e-commerce since early March has resulted in a significant increase in online sales tax revenues in most states.

A “new normal” is framing day-to-day life as those in professional services return to work.

Consumers now have more control over their own financial decisions and loan options.