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The Internal Revenue Service is giving extra time to companies that make and sell sport fishing and archery equipment to file and pay their excise taxes due to the novel coronavirus pandemic. In Notice 2020-55, the IRS said Friday it’s providing expanded disaster relief, in the form of a postponement until Oct. 31, 2020, of […]
The COVID-19 pandemic flipped our working world on its head. From work-life balance, to schools and daycares to social gatherings, almost no current business (or life) practice is the same as it was before. All industries have learned to adapt to keep their heads above water. Some have even thrived by quickly embracing work-remote models […]
Tamera Ripperda, the commissioner who runs the Internal Revenue Service’s Tax Exempt and Government Entities division, is retiring on Sept. 30 after 33 years at the IRS. Ripperda began working at the IRS’s Exempt Organizations unit in 1988 as a revenue agent. She has held executive leadership positions in three of the four services and […]
Since founding BlackLine in 2001, Therese Tucker has served as CEO of the financial management close software company since, but she now plans to focus more on innovation and product development as executive chair, with chief operating officer Marc Huffman transitioning into the top job on January 1. As a woman CEO and founder of […]
Robotic process automation has been spreading across accounting and finance departments, according to a report from the Institute of Management Accountants. That trend may accelerate as companies deal with the novel coronavirus pandemic and look for ways to cut costs. The report aims to help finance professionals start using RPA to speed up tedious manual […]
Down on Main Street; the non-filer initiative; refund interest; and other highlights from our favorite tax bloggers. Regards from Mickey Boyum Barenscheer (https://myboyum.com/blog/): If your client’s nonprofit needs funding to keep operating during this time, how and why a loan from the new $600 billion Main Street Lending Program may be an option. Tax Pro […]
The Securities and Exchange Commission named Lindsay McCord as chief accountant in the SEC’s Division of Corporation Finance. McCord has been acting chief accountant there since the departure of Kyle Moffatt in March, leading its work to monitor disclosures by companies impacted by COVID-19 and offer regulatory relief and guidance on financial statements and other […]
While the coronavirus pandemic may have moved the upcoming presidential election off the front burner for much of the spring and summer, it’s bound to move back as the fall approaches. With that in mind, Top 10 Firm Crowe has released this handy at-a-glance summary of the two candidates’ proposed policies for taxes on individuals.
President Donald Trump said he is “talking about” doing a payroll-tax cut through an executive action, but doing so could result in hefty tax bills for employers later if the idea doesn’t get mired in legal challenges before then. Trump discussed the possibility Monday after Stephen Moore, an informal economic adviser to the president, wrote […]
As of today, the Internal Revenue Service has ruled that expenses paid with forgiven Paycheck Protection Program loans are not deductible. But what if the loan is processed and expenses are paid in 2020, but the forgiveness determination is not made until 2021? Such circumstances are not only possible but likely to occur, according to […]
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