Examples from finance professionals show how they’ve found a way to lead amidst major change.
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NEWS
COBRA premium assistance credit under ARPA clarified
The IRS answered questions concerning COBRA continuation coverage premium assistance and the corresponding tax credit that employers, plan administrators, and insurers may claim under the American Rescue Plan Act.
Restaurant Revitalization Fund to stop accepting applications Monday
Restaurants and other eating establishments have until Monday, May 24, at 8 p.m. ET to submit applications to the Restaurant Revitalization Fund (RRF), the SBA announced.
Diverse faculty attracts diverse students
Professors can shape a student’s experiences, influencing whether students take a course or pursue a career because the person at the front of the classroom looks like them. The first Black CPA Ph.D.s have played an important role in attracting generations of future Black CPAs.
How nonfilers can claim advance child tax credit payments
The IRS explained in a revenue procedure how individuals can claim advance child tax credit payments and stimulus payments if they are not required to file 2020 federal income tax returns.
How to ask for a raise when the pandemic nears its end
Picking the right time and being ready to communicate your value can help you get to “yes.”
Supreme Court: Microcaptive reporting challenge may go forward
Reversing the Sixth Circuit, the Supreme Court held that an injunction sought against an IRS notice is not barred by the Anti-Injunction Act because it challenges a reporting requirement and not a tax.
Taxpayers deserve pandemic penalty relief, AICPA says
In a letter to the IRS and Treasury, the AICPA recommended, in light of the ongoing COVID-19 pandemic, that the IRS implement fair, reasonable and practical penalty relief measures, including targeted relief from both the underpayment-of-estimated-tax penalty and the late-payment penalty for the 2020 tax year.
A new road map for risk assessment, audit work
Careful analysis and thought-provoking discussion contribute to high-quality risk assessment in auditing. A proposed new standard is designed to lead to improvement in this area.
PCAOB proposal addresses international oversight challenges
The Public Company Accounting Oversight Board proposed a framework that would guide its actions when its oversight activities are stymied by authorities in other jurisdictions.
Tips for lease accounting amid financial uncertainty
Many private companies and not-for-profits are adopting new lease accounting standards, and public companies that have adopted the guidance are applying it amid a pandemic-fueled surge in lease renegotiations.
Restaurant Revitalization Fund faces huge funding shortfall
Restaurants and other hard-hit providers of on-site food and beverage have flooded the Restaurant Revitalization Fund (RRF) with $65 billion in grant requests, more than double the amount of money allocated to the program.
6 key areas of paid tax preparer regulation highlighted in AICPA letter to Congress
The Biden administration says the IRS should be given the authority to regulate paid tax return preparers who are currently unregulated, and the AICPA offers its recommendations in six key areas.
IRS clarifies pandemic relief for dependent care assistance programs
Dependent care assistance program benefits carried over or available during an extended claims period under special temporary COVID-19 relief provisions retain their status as excludable from employees’ gross income and wages, the IRS explains in a notice.
SBA sending first $2 billion in Restaurant Revitalization Fund payments
A week after opening the Restaurant Revitalization Fund, the US Small Business Administration is sending out a first round of payments totaling $2 billion to more than 16,000 restaurants and other eligible food and beverage providers.
2022 HSA, excepted-benefit HRA amounts increase slightly
Maximum health savings account annual contributions will increase by $50 to $3,650 for self-only and $100 to $7,300 for family coverage for 2022. Inflation adjustments in Rev. Proc. 2021-25 also increase maximum out-of-pocket expenses for high-deductible health plans.
Pandemic government relief: Details, allocations provided
Treasury on Monday provided details and allocations for state, local, territorial and tribal government pandemic relief totaling $350 billion that was established under the American Rescue Plan Act.
3 ways to defeat imposter syndrome — and build executive presence
Feelings of “intellectual fraud” could affect an estimated 70% of the U.S. population. For finance leaders, adopting a questioning style and making a specific plan can help.
AICPA seeks exemption for CPA firms from expected beneficial ownership registry
The AICPA is requesting that all licensed or registered CPA firms be exempted from forthcoming rules that require beneficial ownership information to be reported by small businesses to the Financial Crimes Enforcement Network (FinCEN).
SBA unveils initial Restaurant Revitalization Fund results
The Restaurant Revitalization Fund received more than 186,000 applications from restaurants and other eligible businesses the first two days after its application window opened May 3.
Features
FROM THIS MONTH'S ISSUE
Clean data faster using Excel’s REGEX functions
Excel’s REGEX functions provide a simpler, flexible solution to text-cleaning tasks, reducing the need to combine multiple functions when cleaning imported data. This JofA Technology Q&A article shows the way with step-by-step instructions and a video walkthrough.
From The Tax Adviser
July 31, 2026
Current developments in S corporations
July 31, 2026
