Dozens of millionaires from the U.S. and six other countries have a message for their governments: “Tax us. Tax us. Tax us.”
The Senate and House passed bipartisan legislation to help nonprofits remain financially viable during the COVID-19 pandemic.
A subprime-related settlement between the government and Deutsche Bank provided meaningful benefits to some U.S. consumers in need, according to a new report. But the author acknowledged that those gains could prove illusory for some consumers given the coronavirus crisis.
As an accounting professional, these are tough days. But that doesn’t mean your practice can’t grow during this season.
The Fed has already eased certain capital requirements in response to the coronavirus pandemic. It should avoid making any further adjustments to the surcharge, which is meant to keep global banks from creating systemic risks.
By incentivizing businesses to rehire employees laid off or furloughed due to COVID-19, states will generate a faster economic recovery and provide valuable assistance for companies to get back on their feet.
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.