Featured News
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State update on CARES funding investments
Gov. Evers has provided an updated accounting of federal funds invested in public health, emergency response efforts and economic stabilization in response to the COVID-19 pandemic.
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Inflation-adjusted limit for 2021 HRAs
The IRS has issued the maximum amount allowed to be newly made available to participants of excepted benefit HRAs for plan years beginning after Dec. 31, 2020, and before Jan. 1, 2022.
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Applications now open for round two We’re All In grants
Applications are now open for the second round of We’re All In grants to help state businesses recover from the economic impact of the COVID-19 pandemic.
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AICPA seeks guidance on CARES Act ERC provisions
The AICPA is seeking additional guidance and clarity on employee retention credit (ERC) provisions of the CARES Act in a new letter to Treasury and the IRS.
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FASB clarifies callable debt securities accounting
ASU 2020-08, issued by FASB this week, clarifies an entity’s accounting responsibilities related to callable debt securities.
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DOJ: crypto tax evasion a criminal offense
Tax evasion is one of three major ways bad actors use cryptocurrency, according to a new report from the Department of Justice.
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2021 Social Security wage base announced
Social Security and SSI benefits for approximately 70 million Americans will increase by 1.3% in 2021, the Social Security Administration recently announced.
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SBA clarifies PPP forgiveness application due date
The SBA has released new FAQs that confirm Paycheck Protection Program (PPP) loan forgiveness applications are not due Oct. 31.
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IRS finalizes consolidated group NOL rules
The IRS has finalized guidance for consolidated groups on the treatment of net operating losses (NOLs) after recent statutory changes.
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Audit committee cybersecurity disclosures rising in proxy statements
Public company audit committees continue to increase the level of their disclosures around cybersecurity in proxy statements, according to a yearly analysis.