Recipients of Veterans Affairs benefits were added to the list of individuals who will automatically receive economic impact payments, the IRS announced.
COVID-19 news and information
How to take retroactive 100% bonus depreciation on QIP
The IRS issued procedures for how taxpayers can take advantage of the recently enacted technical correction to the rules for qualified improvement property (QIP).
How the COVID-19 crisis is leading to lasting change
The COVID-19 crisis has caused pain, loss and overwhelming gloom. It also is leading to lasting change in the workplace, which may be fundamentally different in many ways after the crisis ends.
SBA stops accepting PPP applications after funding runs out
The U.S. Small Business Administration stopped accepting applications for the Paycheck Protection Program after exhausting the initial $349 billion in funding provided by Congress to fund forgivable loans to small businesses impacted by the COVID-19 pandemic.
SSI recipients to receive stimulus payments; dependent payments require extra step
The IRS announce that Supplemental Security Income (SSI) recipients will receive automatic stimulus payments, but some taxpayers need to enter information about qualifying children.
Pandemic alters lease accounting landscape
The coronavirus pandemic has led to a likely delay in the effective date of FASB’s new lease accounting standard as well as an environment in which lease concessions may lead to new accounting considerations.
GASB proposes postponing effective dates due to pandemic
GASB issued a proposal that would postpone by one year the effective dates of most GASB statements and implementation guides due to be implemented for fiscal years 2019 and later.
IRS launches website for tracking stimulus payments
The IRS announced the launch of its “Get My Payment” website, which is designed to permit people who filed tax returns to enter their direct deposit information and check the status of their $1,200 stimulus payment.
SBA publishes new PPP guidance for the self-employed and general partners
The US Small Business Administration issued guidance for independent contractors, sole proprietors and others with self-employment income to apply for forgivable loans under the $349 billion Paycheck Protection Program.
An online pivot can be an opportunity
A faculty member reconfigured her finance class in the wake of the COVID-19 crisis to teach soft skills.
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