2 Min ReadThe service released the final regulations and other guidance on the deduction, which was amended by the CARES Act.
4 Min ReadRepublicans and Democrats are negotiating a new coronavirus stimulus package, but there’s still no law on the books designed to erase the problems that prevented many stimulus payments from getting directly to recipients.
3 Min ReadThe pressure is on the fintech, which helps banks make digital loans, to stanch its losses and show its lofty market valuation was deserved.
6 Min ReadThe GOP legislation includes a second tranche of stimulus payments, structured the same way as the earlier round, in March, along with tax credits for businesses.
3 Min ReadThe economic stimulus plan released by Senate Republicans offers no new money for states and cities to cope with swelling budget shortfalls, leaving them to contend with a grave financial crisis that’s already forcing them to slash spending, furlough workers and delay projects as tax revenue disappears.
4 Min ReadA new Small Business Administration notice explains what steps lenders must take to seek approval of their forgiveness decisions under the Paycheck Protection Program. But lenders say lawmakers and regulators must do more to cut red tape.
2 Min ReadAny boost for workers from a payroll tax cut that President Donald Trump favors would take weeks to kick in and the effects could be distributed unevenly.
3 Min ReadOther regionals set more aside for loan losses than the Cleveland bank did in the second quarter, and its ratio of reserves to total loans is slightly lower, too. But Key executives say the portfolio is balanced and holding up well despite the pandemic’s economic toll.
2 Min ReadMassachusetts Society of CPAs president and CEO Amy Pitter is spearheading a group of 28 state society heads who have sent a letter to congressional leaders.
5 Min ReadThe Tax Cuts and Jobs Act created opportunity zones as an economic development tool to stimulate investments in distressed communities.
2 Min ReadAs far as the taxman is concerned, home is where the heart is.
2 Min ReadThe Dallas bank set aside less in the second quarter for credit losses than analysts expected. Executives cited action in Texas and California to reverse reopenings and said they're still committed to the oil and gas business.
4 Min ReadFirms may want to trade short-term cash for long-term goodwill.
3 Min ReadSenate and House Republicans introduced legislation that would give businesses refundable tax credits against payroll taxes to meet some of the expenses associated with reopening during the novel coronavirus pandemic.
4 Min ReadThe American Institute of CPAs offered six policy suggestions for the next phase of federal COVID-19 relief legislation under consideration in Congress.
1 Min ReadThe speed and scale of the Paycheck Protection Program made it particularly susceptible to fraud, explains Juliette Gust, a forensic accountant and founder of Ethics Suite -- and that means businesses need to take steps to protect themselves.
3 Min ReadThe White House is signaling to Congress that President Donald Trump could reject a new coronavirus aid bill if it doesn’t include a payroll tax cut, adding a new complication to already contentious negotiations between Republicans and Democrats on the next round of stimulus.
4 Min ReadSome criticized the Fed’s decision to temporarily lift capital restrictions for megabanks, but the move will help ease the crisis.
5 Min ReadThe Fed’s recent action capping dividend payments might prove inadequate once the coronavirus crisis really hits banks’ capital.
LIBOR
3 Min ReadRegulators can only delay the move to a new interest rate index alternative for so long.
