The Internal Revenue Service is shutting down its Practitioner Priority Service line, e-Services Help Desk, as well as the e-Services FIRE and AIR system help desks, until further notice, due to staff limitations amid the pandemic.
The American Institute of CPAs wants the Internal Revenue Service and the Treasury Department to give taxpayers more tax filing and payment relief during the COVID-19 pandemic.
Treasury Secretary Steven Mnuchin reiterated Thursday that he wants U.S. financial markets to remain open even as the coronavirus fuels wild volatility, while adding that he's focused on helping mortgage firms expected to be hit hard by the pandemic’s spreading economic pain.
No online lenders are approved for the agency's traditional programs, but they could make loans under the COVID-19 stimulus package if they get special approval.
The $2.2 trillion package passed by the Senate includes a provision that would allow banks the temporary option to postpone compliance with the credit losses standard.
The Governmental Accounting Standards Board is considering delaying the effective dates of its standards and implementation guides because of the novel coronavirus pandemic.
Payments technology is a relative bright spot as coronavirus’ economic fears hit venture capital, since an emergency can be a catalyst for early-stage innovation designed to ease digital commerce.
The reprieve from mortgage data collection was among several changes to the agency’s supervisory and enforcement procedures to help firms responding to the COVID-19 pandemic.
While LendingClub, Prosper, Avant and SoFi are giving existing borrowers breaks in the short term, they're considering tightening credit as the coronavirus outbreak threatens to drag the economy into a recession.
Many borrowers will suffer unless the program, the central bank's latest response to the coronavirus pandemic, includes consumer loans issued by fintechs.