Keeping you informed and prepared amid the coronavirus crisis
Updated daily
The spread of the novel coronavirus presents serious concerns and challenges for many around the world. To help, below we’re gathering the latest news stories along with relevant columns, tips, podcasts, and videos from the Journal of Accountancy. You can also read the latest news on advocacy and tax relief, the CARES Act, and the Paycheck Protection Program.
The Association, the global voice of the American Institute of CPAs and the Chartered Institute of Management Accountants, is continually monitoring the impact of the coronavirus (COVID-19) on members, staff, exam candidates, students, and the profession. Visit this page on AICPA.org for updates and details about where to find the information you need.
The statement says ID.me inflated the amount of work it could provide and the amount of federal dollars lost to pandemic fraud, the latter in an effort to increase demand for its services. In his response, the CEO says he would not use such a crisis to help his company.
In October, the IRS said it would leave Free File open for an extra month, until Thursday, so eligible taxpayers can claim their share of several benefits including the 2021 recovery rebate credit, the child tax credit, and the earned income tax credit.
CPAs can play crucial roles in helping navigate the evolving landscape as state tax authorities ramp up efforts to source additional revenue from out-of-state workers and the companies they work for.
As part of COVID-19 pandemic relief, the IRS will automatically abate failure-to-file penalties for certain tax and information returns and refund those penalties already paid.
President Joe Biden signed bills that give the government more time to catch and prosecute fraud related to two of the most popular COVID-19 small business relief programs.
A new survey by BKD CPAs & Advisors finds that most US not-for-profits are adding new services to meet increased demand despite facing shortfalls in funding and staffing.
A review by the Treasury Inspector General for Tax Administration assessed the IRS’s 2021 performance, customer service issues and administration of tax law changes.
Small businesses and not-for-profits that received funding through the COVID-19 Economic Injury Disaster Loan program won’t have to begin payments on the loan until 30 months after the loan was made, the US SBA announced.
