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.
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IRS waives estimated-tax penalties for farmers and fishermen
The IRS, citing earlier problems e-filing a new form reporting S corporation owners’ basis, has granted relief to certain farmers and fishermen who missed their March 1 filing deadline.
SEC set to discuss staff climate change proposal
The Securities and Exchange Commission will meet Monday to discuss a staff proposal designed to improve and standardize companies’ climate change disclosures for investors.
The role of accounting firms amid the crisis in Ukraine
The Russian invasion of Ukraine is taking place more than 4,000 miles from the United States, but the uncertainty and economic stress caused by the war means that business leaders need trusted advice and calm counsel. That’s where accountants can play a key role.
Congress to hear from IRS commissioner on filing season
AICPA President and CEO Barry Melancon welcomes Charles Rettig’s testimony, urges additional taxpayer relief.
IRS direct-hiring 5,000 in service centers
The IRS will hold in-person and virtual “hiring events” this month to begin filling positions in three service centers.
New, lower Form 1099-K threshold prompts cautions, criticisms
The new, lower $600 reporting threshold for reporting credit card and cash payment app transactions will likely lead to problems for taxpayers and payment settlement entities, the Taxpayer Advocate Service warns.
AICPA & CIMA stand with the people of Ukraine
The Association of International Certified Professional Accountants, the combined voice of the American Institute of CPAs (AICPA) and The Chartered Institute of Management Accountants (CIMA), will suspend indefinitely services in Russia and Belarus.
SEC proposes new rules for cybersecurity reporting
Public companies would be required to provide investors with enhanced and standardized information about their cybersecurity practices under a new rule proposed Wednesday by the Securities and Exchange Commission.
How not-for-profits can emphasize their advantages in a tight labor market
Recruiting and retention are difficult in an environment where employees have lots of options. Not-for-profits can emphasize their mission and use many other strategies to stay fully staffed.
IRS to fast-track 10,000 hirings to address backlog
Direct-hire authority will allow the Internal Revenue Service to more quickly reinforce its return processing and account management functions.
National taxpayer advocate to CPAs: Tell us where the challenges are
CPAs and other tax professionals can help the Taxpayer Advocate Service identify the most acute problems within the IRS.
How to keep Ukraine donations safe from fraudsters
Taking the time to research charities can help donors make certain that their donations are being used for the intended purpose.
Positive for now, CPA executives wary of inflation and other headwinds
Inflation and the search for talent top the list of known challenges; Ukraine is one of the unknowns at this point.
These 10 startups show profession’s focus on innovation, ESG
The AICPA and CPA.com have selected 10 early-stage technology companies to participate in the 2022 Startup Accelerator.
Audits of PRF for-profit funds, other issues discussed in GAQC resources
New tools offered by the AICPA Governmental Audit Quality Center discuss coronavirus relief fund audit requirements for for-profit health care entities as well as single audit tips for auditors and organizations subject to single audit requirements.
PPP forgiveness too slow in some cases, inspection finds
A report by the Office of the Inspector General found that the US Small Business Administration did not meet the 90-day statutory requirement to remit Paycheck Protection Program forgiveness payments to lenders for loans totaling $66.4 billion.
SEC seeks more disclosures of short-sale data
The Securities and Exchange Commission voted to require certain institutional investment managers to report short sale-related information each month. The SEC then would make aggregate data about large short positions, including daily short-sale activity data, available to the public for each individual security.
AICPA again asks IRS to delay K-2/K-3 reporting
Comment letters from the AICPA and state CPA societies also offer further recommendations.
Proposed regulations update RMDs for SECURE Act changes
The regulations governing required minimum distributions from retirement plans would be updated to reflect various recent statutory changes under proposed regulations released on Wednesday.
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