Regulation and compliance

The Senate and House passed bipartisan legislation to help nonprofits remain financially viable during the COVID-19 pandemic.

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.

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 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.

Deloitte is helping its corporate clients get ready to prepare their quarterly financial statements in the midst of the novel coronavirus pandemic, as its own employees grow more accustomed to doing remote audits while working from home.

The American Institute of CPAs has organized a coalition of 21 business trade groups to push for help for businesses' short-term liquidity needs.

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.

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 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.

Jelena McWilliams explains the agency's decision to enlist the help of tech innovators to modernize a reporting process that the coronavirus epidemic has exposed as outdated.

The Senate has passed an extension of the popular Paycheck Protection Program for small businesses, which was set to close down Tuesday night with more than $130 billion in funding left over.

Wealth management firms should define success by how well their operations perform under pressure, Kestra Financial COO Kris Chester says in an episode of Financial Planning’s podcast.

As small businesses in different parts of the country reopen in the midst of the novel coronavirus pandemic, they are beginning to increase the number of hours worked by their employees, according to payroll giant Paychex, although spikes in the virus are threatening to set back those gains.

The head of a federal watchdog agency had some direct experience with the shortcomings of one of the coronavirus stimulus programs — a check from the IRS made out to his late mother.

Some observers said the central bank should have suspended dividends entirely in response to an unprecedented economic emergency caused by the pandemic. Others said its more cautious moves were appropriate because big banks' capital is strong and the economy could bounce back.

In the most sweeping capital distribution order since the financial crisis, the Federal Reserve says it will prohibit big banks from buying back their stock in the third quarter and limit dividend payments to second-quarter levels.

Top Democrats in the House and Senate are backing a measure that would deny coronavirus aid to companies that moved their official headquarters offshore to avoid U.S. taxes.

Borrower relief is necessary in a national emergency, but if the exclusion of the deferred loans from troubled-debt restructurings is extended past the end of the year, safety and soundness could be compromised.

Business continuity plans should be used constantly, not just when the crisis is at its peak, says the New York Fed’s head of financial services.