Featured News
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Eligible PPP expenses now deductible
New IRS guidance allows businesses that got their PPP loans forgiven to write off expenses paid for with that money.
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New PPP guidance issued by SBA, Treasury
The U.S. Small Business Administration and Treasury issued guidance late night Wednesday, Jan. 6, for the reconstituted Paycheck Protection Program.
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IRS revises Form 1024-A for electronic filing
As part of ongoing efforts to improve service for the tax-exempt community, the IRS issued a revised Form 1024-A application to allow electronic filing.
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Final rules govern income inclusion, advance payments
The IRS has issued new guidance on the timing of income inclusion under an accrual method of accounting, including the treatment of advance payments for goods, services and other items.
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Change in vehicle use valuation permitted for now
The IRS is allowing employers to switch from the vehicle lease valuation method to cents-per-mile for determining the value of an employee’s personal use of a vehicle during the pandemic.
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Recruiters change priorities for 2021
New recruiting research indicates the importance of time-to-hire has given way to a more thoughtful process that prioritizes factors like diversity, equity and inclusion.
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AICPA town hall reviews PPP2 relief
A newly recorded AICPA town hall provides a helpful overview of recently approved PPP2 legislation, including an update on loan timing.
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Financial fraud risks amid the pandemic
At a recent conference, financial accounting specialists drew attention to some financial fraud risks associated with the COVID-19 pandemic.
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Client onboarding for firms
Accounting firms that struggle with client acquisition and retention may benefit from improving their client onboarding experience.
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Fed extends Main Street loan program
The Federal Reserve is extending the end date for its Main Street Lending Program by eight days to process an influx of submitted applications.