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Rockville, Maryland firm E. Cohen raised $25K over the holiday season to benefit the Greater Washington Community Foundation’s Food for Montgomery Fund; and Big Four firm Ernst Young’s College MAP mentorship program awarded nearly $800,000 in scholarships to 400 students in 2020.
The Internal Revenue Service hasn’t been properly vetting millions of dollars in deductions claimed for the qualified business income tax break that could be erroneous, according to a recent report. The report, issued last week by the Treasury Inspector General for Tax Administration, took a closer look at the QBI deduction in Section 199A of […]
Prager Metis names co-MP; Mauldin Jenkins adds HR advisory services practice; and more CPA news.
The U.S. Small Business Administration released a one-page form aimed at simplifying the process of applying for forgiveness of Paycheck Protection Program loans, along with newly revised and updated forms to meet the requirements of the latest stimulus legislation. The COVID-19 relief package that Congress passed last month revived the PPP with $284 billion in […]
The Treasury Department said Friday it plans to launch an all-out effort to deliver Economic Impact Payments to people who haven’t yet received the two rounds of stimulus payments that they should have received last year or this month. The effort comes in response to an executive order from President Biden to provide economic relief […]
The Securities and Exchange Commission tapped deputy chief accountant Paul Munter to become acting chief accountant when chief accountant Sagar Teotia leaves in February. Teotia announced earlier this month that he would be departing next month, one of a number of SEC officials who are leaving now that a new administration has taken office (see […]
President Biden has picked Allison Herren Lee, a member of the Securities and Exchange Commission, as the acting chair of the SEC, as nominee Gary Gensler waits in the wings as a more permanent chair once he is confirmed by the Senate. Lee was sworn in as an SEC commissioner on July 8, 2019 after […]
Drug money; ghosts of a chance; skin games; and other highlights of recent tax cases. Newton, Massachusetts: Former attorney Kevin M. Brill has pleaded guilty to wire fraud and filing false returns in connection with a long-running embezzlement from trusts. From 2012 to July 2017, Brill served as a trustee for three family trusts with […]
Armanino has released a new technology solution, Benchmarking for Nonprofits. The firm taps into big data for this product, presenting it in readable dashboards. Benchmarking has become a useful tool for organizations of all kinds to gauge their performance during the uncertain environment the COVID-19 pandemic has created. Benchmarking for nonprofits is billed as having […]
The Internal Revenue Service released information on how employees now have until the end of the year to repay any payroll taxes they deferred from last year. Former President Trump issued a presidential memorandum last August allowing Social Security taxes to be deferred for the rest of 2020, but under the order they had to […]
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