The IRS identified a dozen forms for which is will accept e-signatures for the rest of the year. The forms covered include Form 8879, IRS e-file Signature Authorization, used for e-filing individual income tax returns.
Advertisement
Blockchain not seen transforming accounting processes — yet
Blockchain is often misunderstood. For instance, there is not one blockchain but many. Similarly, there are many opinions about how blockchain will affect the practice of accounting. Participants in the our annual technology roundtable add their voices to the debate.
Guidance issued on payroll tax deferral
The IRS issued guidance on the payroll tax deferral ordered by President Donald Trump on Aug. 8. The notice requires employers to withhold deferred taxes during the period from Jan. 1 to April 30, 2021.
How lenders should account for forgivable PPP loans
The forgivable portion of a Paycheck Protection Program loan should be accounted for by the lender as an interest-bearing loan until payment for that loan is received from the SBA, according to new Technical Question and Answer Guidance issued by the AICPA.
Proposal aims to enhance auditors’ risk assessment process
A proposed standard by the AICPA Auditing Standards Board is designed to enhance auditors’ processes for identifying and responding to the risks of material misstatement in financial statements.
Tools to help nonfilers receive economic impact payments
The IRS provided information and tools that tax practitioners can use to inform individuals who are eligible to receive economic impact payments but did not receive one automatically.
SEC changes disclosure rules, redefines ‘accredited investors’
The SEC voted to amend its rules for public company disclosures of the description of business, legal proceedings and risk factors. The commission also changed its definition of “accredited investor.”
Records-request duties clarified in AICPA ethics proposal
AICPA members’ responsibilities when responding to client requests for client-provided records would be clarified under a proposal issued by the AICPA Professional Ethics Executive Committee that would amend the “Records Requests” interpretation in the AICPA Code of Professional Conduct.
New PPP forgiveness guidance addresses owner-employee compensation, rent-related costs
The SBA and Treasury published an interim final rule that provides clarity on Paycheck Protection Program loan forgiveness issues related to owner-employee compensation calculations and the eligibility of nonpayroll costs related to certain lease and property ownership scenarios.
Final regs. address new dividends received deduction and reporting rules
The IRS finalized regulations and withdrew temporary regulations on the Sec. 245A dividend rules, as well as Sec. 954 and the reporting requirements for those new rules under Sec. 6038, which were all amended by the law known as the Tax Cuts and Jobs Act.
IRS stops sending balance-due notices, corrects payroll tax penalties
The IRS has stopped sending balance-due notices to taxpayers as it works to process its backlog of unopened mail. It is also working to correct certain erroneous penalties for some employers who reduced their payroll tax deposits to claim COVID-19 relief-related credits.
Video interview tips for forensic accountants and auditors
Social distancing rules designed to stunt the growth of the COVID-19 pandemic have made it impossible, or at least impractical, to conduct in-person interviews for forensic and auditing engagements.
AICPA urges firms to schedule peer reviews as off-site deadline is extended
The AICPA Peer Review Board voted to continue permitting remote system reviews for CPA firms without prior approval of the administering entity for system reviews commencing before June 30, 2021.
Promoting resilience helps firms and people in turbulent times
Amid the coronavirus pandemic and social upheaval, taking a fresh look at your practice and leading with emotional intelligence can lead to improvements in business results and employee welfare.
Proposed regs. govern qualified plan loan rollovers
The IRS issued proposed regulations explaining the extended rollover period that applies to qualified plan loan offsets after the rules were amended by the law known as the Tax Cuts and Jobs Act.
IRS begins accepting e-filing of amended individual tax returns
The IRS said it had launched its eagerly awaited program to accept Forms 1040-X, Amended U.S. Individual Income Tax Return, electronically.
Auditors show resilience during pandemic, CAQ’s Lindsay says
The effective response by public company auditors during the coronavirus pandemic has helped maintain the public’s faith in the capital markets, Center for Audit Quality Executive Director Julie Bell Lindsay said.
IRS posts information about check processing backlog and incorrect notices
As the IRS works through its backlog of correspondence, it has posted information about checks it hasn’t cashed yet and notices that went out with incorrect dates.
FASB addresses valuation of private company share-based awards
Private company share-based awards can be difficult to value because such shares often are not actively traded. FASB proposed guidance that is designed to make this valuation less costly and complex.
AICPA requests guidance on payroll tax deferral
The AICPA has asked Treasury and the IRS for guidance on the recently announced executive order that defers some employee payroll taxes that would be due between Sept. 1 and Dec. 31.
Features
FROM THIS MONTH'S ISSUE
AI risks CPAs should know
Are you ready for the AI revolution in accounting? This JofA Technology Q&A article explores the top risks CPAs face—from hallucinations to deepfakes—and ways to mitigate them.
From The Tax Adviser
January 31, 2026
Trust distributions in kind and the Sec. 643(e)(3) election
January 31, 2026
Effects of the OBBBA on higher education
December 31, 2025
