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The pandemic has officially pushed filing day for the federal government and a growing list of states into the summer. As it’s done to many other aspects of society, the outbreak has also upended the definition of “reprieve” for preparers. Is it a real breather? And what are clients saying? “Breather? Ha!” said John Dundon, […]
Tips for working remotely; when days become years; bad preparers; and other highlights from our favorite tax bloggers. Plandemics National Association of Tax Professionals (https://blog.natptax.com/): The right tools for your employees to work from home productively have zipped from luxury to necessity. Here are tools you can and must use now. Intuit Proconnect (http://taxprocenter.proconnect.intuit.com/): More […]
Big Four firm PwC announced on Monday that its PwC Charitable Foundation will donate new grants totaling $2.85 million to organizations supporting communities impacted by COVID-19. Previously, the PwC Foundation made a $350,000 grant to Project HOPE in late February to supply protective equipment for healthcare workers in the Wuhan and Shanghai provinces of China. […]
The Financial Accounting Standards Board is coming under pressure to relax its credit losses standard as banks and other financial institutions see the value of their assets plunging from the sell-off in the capital markets amid the coronavirus pandemic. The Federal Deposit Insurance Corporation and other federal and state banking regulators issued a joint statement […]
The American Institute of CPAs joined forces with the International Franchise Association and payroll companies Paychex and Intuit in issuing an open letter Sunday to President Donald Trump, U.S. Treasury Secretary Steven Mnuchin, Small Business Administrator Jovita Carranza and members of Congress proposing expedited funding for small businesses amid the coronavirus pandemic via payroll processing. […]
Treasury Secretary Steven Mnuchin tweeted Friday that President Trump has directed him to move Tax Day to July 15, giving taxpayers more time to file their taxes in the midst of the coronavirus pandemic. “At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15,” said Mnuchin (pictured). “All taxpayers and businesses […]
Tax forms and payments won’t be due to the Internal Revenue Service until July 15 this year, Treasury Secretary Steven Mnuchin said in a tweet, as the government looks for ways to respond to the coronavirus. “We are moving Tax Day from April 15 to July 15,” Mnuchin said. “All taxpayers and businesses will have […]
The American Institute of CPAs and the Chartered Institute of Management Accountants have announced that Engage 2020, the annual accounting and finance conference held in Las Vegas, will be postponed until an unspecified date “later this year” due to the ongoing coronavirus pandemic. Originally set for June 7-11, the rescheduled event is “still being set,” […]
The coronavirus pandemic has hit the United States hard and fast, and the domino effect is being felt. As people practice social distancing, they are spending less, and companies are struggling to survive. In the midst of the crisis, tech companies are doing what they can to help vulnerable customers and frazzled accountants dealing with […]
Republicans and Democrats in the Senate have released separate sets of tax proposals aimed at alleviating the effects of the coronavirus pandemic, in contrast to the two bipartisan bills that have been signed into law already. Senate Majority Leader Mitch McConnell, R-Kentucky, released his proposal Thursday afternoon, centered around giving “recovery checks” of up to […]
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