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Chief financial officers are playing a key role in helping their companies cope with the fallout from the coronavirus pandemic and the economic devastation it’s causing, according to officials from the Institute of Management Accountants. As the finance function takes on a greater operational role at companies, CFOs often find themselves acting as the key […]
The Internal Revenue Service issued a warning Thursday urging taxpayers to beware of scammers calling and emailing them about the stimulus payments they are expecting as a result of last week’s CARES Act, along with other schemes related to the novel coronavirus pandemic, as they could lead to identity theft and tax fraud. Taxpayers and […]
The Governmental Accounting Standards Board published guidance Thursday to help state and local governments transition away from some existing benchmark reference rates, such as the London Interbank Offered Rate, or LIBOR, as more financial institutions transition to newer reference rates such as the Secured Overnight Financing Rate, or SOFR, that are less prone to market […]
Intuit, along with GoFundMe and Yelp, has co-founded an initiative to help small businesses raise money to meet challenges caused by COVID-19. The Small Business Relief Initiative is designed to get money in the hands of small businesses specifically struggling to pay employees and business expenses during the pandemic. Due to curfews, shelter-in-place mandates, and […]
If sports movies are to be believed, the only things you need to lead a team during critical moments are a moving script and a good speaking voice. The big-game speech is a trope that’s been repeated countless times over the years. You know the drill: Before or during a big game, a key figure […]
As I write this, things are going from bad to worse with the COVID-19 crisis. With the high level of anxiety that comes with a stressful situation, and the equally high level of uncertainty, it’s easy to get distracted. But the fact is that most of us are now working from home, and while this […]
Small businesses that had been experiencing steady job and wage growth prior to the outbreak of the coronavirus pandemic are seeing that situation change, according to figures from the payroll giant Paychex. Paychex and IHS Markit’s monthly “Small Business Employment Watch” indicated a decrease in both small-business employment and wage growth. The report is based […]
CARES examined; IRS challenges; the months ahead; and other highlights from our favorite tax bloggers. The virtues of virtual Turbotax (https://blog.turbotax.intuit.com): A key first step for clients: File that 2019 return and, if a refund’s coming, have it come via direct deposit. This will ensure that the IRS has the most current tax filing and […]
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 […]
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