State and local governments will have increased flexibility to pursue a wider range of uses under the State and Local Fiscal Recovery Funds program.
COVID-19 news and information
Single audit clarity provided related to pandemic relief programs
An addendum to the Office of Management and Budget Compliance Supplement that was issued in December provides clarity on single audit requirements related to two key federal pandemic relief programs.
A PPP loan forgiveness update and one CPA’s 2021 reflection
Hear status updates on PPP loan forgiveness and other business relief programs and why one CPA says we should reflect on our resilience.
Early sunset of the employee retention credit gets penalty relief
The IRS describes how employers may avoid failure-to-pay and failure-to-deposit penalties for ERC claimed or anticipated in the fourth quarter but eliminated by the Infrastructure Act.
Qualified sick and family leave wage reporting
The IRS provides guidelines to employers for showing these wages on Form W-2.
Persevering through supply chain disturbances
Lumber prices skyrocketed as a result of the pandemic. One homebuilder’s CFO explains how the company navigated those tough and unpredictable waters.
SBA clarifies COVID-19 EIDL application deadlines
The US SBA provided updated guidance Friday on various COVID-19 Economic Injury Disaster Loan program application deadlines.
Further guidance issued on tax treatment of PPP loan forgiveness
Forgiveness amounts are excluded from gross income but included in gross receipts for purposes including determining “small business taxpayer” status under Sec. 448(c).
Rethinking real estate: The benefits of workforce segmentation
Balancing business goals with employee experience can provide the best path forward as hybrid working becomes commonplace.
Companies embrace unusual new strategies to survive a labor crunch
With millions of jobs vacant, company leaders are being tested. Here are some ways smaller businesses are coping with multiple openings and trying to recruit new talent.
Features
SPONSORED REPORT
Agentic accounting has arrived: What’s hype and what’s real?
Artificial intelligence (AI) is moving beyond chatbots and into accounting workflows. A new generation of agentic AI tools can plan, execute, and adapt as they complete tasks, raising expectations for what automation can do inside firms and finance departments. What can agentic AI realistically do today and what challenges are there in its implementation? Find out in this Journal of Accountancy sponsored report.
