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NEWS
New guidance clarifies the application of the credit to “recovery startup businesses” and the treatment of wages paid to majority owners and their spouses.
Merger-and-acquisition activity for CPA firms is surging in 2021 after dropping in 2020 due to the COVID-19 pandemic, Joel Sinkin, president of Transition Advisors LLC said in a session at AICPA & CIMA ENGAGE 2021.
The SBA issued new guidance intended to speed up and simplify the forgiveness process for Paycheck Protection Program loans of $150,000 or less, which represent 93% of the outstanding loans in the $800 billion program.
New guidance from the Committee of Sponsoring Organizations of the Treadway Commission (COSO), provides a detailed road map for incorporating cloud computing into an organization’s enterprise risk management.
The IRS has supplemented its guidance on COBRA premium payment assistance and the corresponding business tax credit under the American Rescue Plan Act.
The SBA has awarded more than $7.5 billion in Shuttered Venue Operator Grants to about 10,000 live entertainment venues and other eligible entities.
New top-level web domains, such as .cpa, are one way for firms to modernize their digital front door. Here’s what you need to know about these new top-level domains (TLDs) and why you may want to consider using them.
Firm leaders can address staff’s anxieties by discussing the rationale for returning to in-person work, communicating transparently about the safety measures they are taking, implementing employee feedback and, when possible, giving staff control over when they return.
A century after John W. Cromwell Jr. became the nation’s first Black CPA, Black role models continue to open doors in the profession.
Over the last several weeks, HHS has established in its PRF FAQs that the reporting in the PRF Reporting Portal will be based on when PRF payments were received.
A new online portal automates the submission of powers of attorney and tax information authorizations, and there are plans to expand its functionality over time.
GASB issued a revised proposal that describes concepts that would guide the board when it establishes requirements for notes to financial statements for state and local governments.
FASB issued guidance that’s designed to help lessors more faithfully account for the underlying economics of leases that would have been classified as a sales-type lease or a direct financing lease and would have recognized a day-one loss.
Various issues that have been identified as worthy of attention by the Governmental Accounting Standards Board are addressed in an omnibus proposed standard issued Monday.
Nonfungible token sales have commanded eye-popping prices in the past year, leaving CPAs with many questions related to valuation of these digital assets.
The US Small Business Administration has published a database of the more than 100,000 approved grants from the $28.6 billion Restaurant Revitalization Fund.
The SBA has formally notified lenders that it is no longer requiring a Loan Necessity Questionnaire to be submitted with forgiveness applications for Paycheck Protection Program loans of $2 million or more.
Proposed quality management standards presented by the AICPA Auditing Standards Board would require audit firms to customize their processes in accordance with their individual risks.
CPAs and restaurant owners have worked together closely to overcome the devastating consequences of the coronavirus pandemic. Bill Pirolli, CPA/CFF/PFS, CGMA, and Brian Casey, who are Rhode Island natives and chair their respective association boards, endeavor to help the industry recover.
The AICPA released a survey seeking feedback on the preliminary content proposed for the redesigned CPA Exam, which would be assessed in three sections that will comprise the Core of the Exam, plus material that would assess candidates’ knowledge in one of three Disciplines they choose under the new CPA Evolution licensure model.
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100th ANNIVERSARY
Black CPA Centennial, 1921–2021With 2021 marking the 100th anniversary of the first Black licensed CPA in the United States, a yearlong campaign kicked off to recognize the nation’s Black CPAs and encourage greater progress in diversity, inclusion, and equity in the CPA profession.