Regulation and compliance

The Internal Revenue Service released information on how employees now have until the end of the year to repay any payroll taxes they deferred from last year.

CPA firms will be in a great position to help their small business clients with the latest round of the Paycheck Protection Program, according to Barry Melancon.

Last month's COVID-19 relief bill has accountants recommending some deductions to clients, and wondering about the applicability of others.

The U.S. Small Business Administration plans to reopen the Paycheck Protection Program to small lenders on Friday and to all lenders next Tuesday.

The U.S. Small Business Administration and the Treasury Department relaunched the Paycheck Protection Program on Monday to new borrowers, prioritizing loans from community lenders.

Growth in small business jobs and wages declined last month as a result of the novel coronavirus pandemic, according to payroll giant Paychex.

The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month.

The Internal Revenue Service and the Treasury Department released guidance on claiming deductions for expenses associated with Paycheck Protection Program loans that have been forgiven.

The recent stimulus law’s relief for renters and extension of the federal eviction ban were meant to ward off a housing crisis. But owners of 1- to 4-unit dwellings still face mounting mortgage and property tax debts, and delinquencies could start rising soon — followed by foreclosures.

As the time comes for businesses to apply for PPP loan forgiveness, CPAs can provide vital assistance to ensure success for their clients.

Given the size and number of tax changes proposed by the Biden administration, it’s no wonder advisors face challenges in helping clients prepare for the year ahead.

With only a few days to go before the end of a difficult year, some accountants and tax professionals are still hoping to finish up some perplexing issues for their clients before New Year’s Day.

The latest round of coronavirus stimulus legislation includes some major tax provisions and changes for accountants to watch out for in the New Year.

Small business owners who got Paycheck Protection Program loans could qualify for big write-offs from their rescue money, amounting to what Treasury Secretary Steven Mnuchin has called a tax-break “double dip.”

Lawmakers are seeking to address some of the PPP’s more obvious failings in the latest coronavirus bill.

Executives from U.S. banks continue to play down near-term expectations, but they say customers are growing more confident ahead of the rollout of coronavirus vaccines, and that key commercial lending segments could drive an economic rebound.

The American Institute of CPAs has joined with over 560 business and trade organizations in urging Congress to pass legislation.

Economic experts believe the current surge is not enough to stop continued losses incurred by various segments of economy.

With a CARES Act fix stalled along with stimulus legislation, the institute is urging CPAs to put pressure on their representatives.

The top Republican and Democrat on the Senate Finance Committee said the Treasury Department “missed the mark” in new guidance that limits tax breaks for businesses that get their Paycheck Protection Program loans forgiven.