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The National Association of State Boards of Accountancy, the American Institute of CPAs and testing administrator Prometric announced on Tuesday a new Continuous Testing model for U.S. CPA Exam candidates, to begin July 1, 2020, due to the ongoing coronavirus pandemic. The Continuous Testing model will replace the existing Testing Window model for the CPA […]
We are on new ground with the coronavirus pandemic, and we need to adapt as much and as quickly as possible. Most of my columns here deal with practice management, reflecting the issues colleagues who contact me are experiencing. About 10 days ago I took another look at some of the columns I had submitted […]
The Internal Revenue Service is postponing the date for filing gift tax and generation-skipping transfer tax returns and making payments until July 15, 2020, because of the novel coronavirus pandemic. The IRS issued Notice 2020-20 on Friday, extending the relief it provided earlier this month on the tax-filing and payment dates for most other types […]
CFOs in the U.S. and Mexico are increasingly concerned about the ramifications of the novel coronavirus pandemic, according to a new survey by PricewaterhouseCoopers, with 87 percent of the CFOs polled expressing great concern for their businesses and 80 percent anticipating COVID-19 will decrease their revenue or profits this year. This is the second poll […]
AAM extends awards deadlines; Seidel Schroeder admits two partners; and more CPA news.
Republican staff on the Senate Finance Committee working in the office of chairman Chuck Grassley, R-Iowa, have released a set of answers to frequently asked questions about the stimulus payments that are expected to give taxpayers at least $1,200 to deal with the economic fallout of the COVID-19 pandemic. The FAQ page serves as unofficial […]
A conversation that all accounting firms and departments need to have, especially during times of viral epidemics and other public health crises, is how to keep the business running efficiently during these times. By now you and your colleagues are likely staying away from the office and working from home. If that’s not already your […]
As we navigate the start of a new decade, who could guess that it would start like this — with a global pandemic? Independent accounting firm leaders are tasked with the sustainability of their firms, and it is even more critical to understand what that means now. As we consider firm sustainability now and in […]
The House passed a massive $2.2 trillion stimulus bill Friday containing tax relief for both businesses and individuals and other stimulus measures in response to the coronavirus pandemic, and President Trump quickly signed it into law. The Senate passed the same far-reaching bill Wednesday (see our story). According to the Washington National Tax Office of […]
Erin Collins will start her term as the National Taxpayer Advocate on March 30 — earlier than expected. Collins is taking up her post earlier ahead of schedule due to the national emergency created by the coronavirus pandemic. “I can’t imagine a more critical time to lead the Taxpayer Advocate Service,” she said. She replaces […]
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