The Internal Revenue Service and the Treasury Department released proposed regulations and temporary regulations to offer guidance for consolidated groups on net operating losses in the wake of changes under both the Tax Cuts and Jobs Act of 2017 and the CARES Act.
The Trump administration released details of almost 4.9 million loans to businesses – from sole proprietors to restaurant and hotel chains – under the federal government’s largest coronavirus relief program so far, the $669 billion Paycheck Protection Program.
The 2017 tax law eliminated the federal write-offs previously allowed for unreimbursed business expenses and home offices, along with most other miscellaneous itemized deductions.
Three worldwide accounting groups have banded together to issue a report offering guidance on how CFOs and finance teams can steer their organizations toward long-term value creation during the COVID-19 pandemic.
The Internal Revenue Service is extending timelines for performing some of the actions associated with the low-income housing tax credit and bonds for qualified residential rental projects to give businesses more time during the COVID-19 pandemic.
Audit firms can enhance the reliability of environmental, social and governance reporting, according to a new report from the Center for Audit Quality.
Finding ways to not just maintain revenues but increase them is becoming Job One for accounting practices large and small in the pandemic.
With a resurgence of the coronavirus threatening a nascent rebound of the U.S. economy, the White House and Congress are under increased pressure to come to terms on another round of stimulus.
The unemployment rate fell to 11.1 percent, as employees returned to work despite the ongoing spread of COVID-19.
The House gave final last-minute congressional approval Wednesday to extending the popular loan program for small businesses until Aug. 8, hours after the deadline for applications lapsed with more than $130 billion still available.