7 Min ReadThe guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.
6 Min ReadThe single-family house on Forestview Avenue in Euclid, Ohio, a suburb of Cleveland, shows no signs of farming activity. The only things growing on the one-eighth-acre plot are trees, shrubs and grass.
3 Min ReadThe Federal Housing Administration said in its annual actuarial report that the capital reserve ratio on its mutual mortgage insurance fund increased to 6.10% in fiscal year 2020, up from 4.84% a year earlier.
6 Min ReadHaving started his transition at the beginning of the pandemic, Board Chair Richard Jones now faces the uncertainty of the presidential election and what Congress might do with accounting standards.
2 Min ReadThe Division of Enforcement's annual report also highlights non-pandemic-related issues that arose in fiscal year 2020 and strategic operational changes.
6 Min ReadThe coronavirus slowdown has hit the IRS and tax professionals,
6 Min ReadThe outcome of Tuesday’s election could be profound tax changes, but that’s only if one party wins control of both houses of Congress and the White House.
15 Min ReadFor a few months this year, a U.S. government aid program meant for struggling small-business owners was handing out $10,000 to just about anyone who asked. All it took was a five-minute online application. You just had to say you owned a business with at least 10 employees, and the grant usually arrived within a few days.
4 Min ReadAs the country looks to make its choice between two decidedly different candidates, tax preparers are watching the race play itself out from a unique vantage point.
2 Min ReadThe company's Silicon Valley Bank unit reduced its loan-loss cushion by $52 million. Private-equity and VC clients have warmed to the practice of doing deals virtually, which increases lending opportunities, SVB executives said.
3 Min ReadFormer vice president and Democratic presidential candidate Joe Biden’s tax proposal will limit direct tax increases to just 1.9 percent of taxpayers.
7 Min ReadAccountants and tax professionals have been helping their small business clients deal with the economic fallout from the COVID-19 pandemic, shifting away from their routine compliance work after the end of the prolonged tax season.
4 Min ReadThe coronavirus pandemic has introduced a number of new areas that companies need to address.
7 Min ReadThe U.S. Small Business Administration and the Treasury Department are making it easier for companies to get their Paycheck Protection Program loans of $50,000 or less forgiven.
4 Min ReadLenders welcomed the move as a helpful first step but are still urging policymakers to develop a broader, simpler process for expediting the approvals of loans extended to troubled small businesses under the Paycheck Protection Program.
2 Min ReadDisclosures in financial statements and SEC filings about the current and potential impacts of COVID-19 are a major concern.
8 Min ReadThe board has voted to defer the effective date of its long-duration insurance contract standard for one year.
6 Min ReadCorporate boards of directors are dealing with new problems in financial reporting and accounting.
2 Min ReadThe Internal Revenue Service issued guidelines Wednesday scaling back a tax break for client entertainment, following through on an element of President Donald Trump’s 2017 tax overhaul that he has said he wants to reverse amid the virus pandemic.
4 Min ReadUnder the proposed regulations, amounts paid for DPC arrangements and HCSMs are treated as deductible medical expenses.
