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IRS Issues 2020 depreciation limits for cars and trucks
The IRS on Wednesday issued the limitations on depreciation deductions for passenger automobiles first placed in service in 2020 and the amounts of income inclusion for lessees of passenger automobiles first leased during 2020 (Rev. Proc. 2020-37).
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House joins Senate in approving 5-week PPP extension
House joins Senate in approving 5-week PPP extension
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Senate approves 5-week PPP extension
Senate approves 5-week PPP extension
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Taxpayers should file by July 15 tax deadline; automatic extension to Oct. 15 available
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PPP: Client forgiveness services Q&As for CPAs
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AICPA Urges Congress to Pass Remote and Mobile Worker Relief Act
AICPA Urges Congress to Pass Remote and Mobile Worker Relief Act
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New PPP Loan Forgiveness Applications Released
The U.S. Small Business Administration (SBA), in consultation with Treasury, released Wednesday a revised loan forgiveness application for the Paycheck Protection Program (PPP). The SBA also unveiled a new EZ application for forgiveness of PPP loans.
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AR Executive Order on June 15, 2020 Concerning Business Liability
Arkansas Governor Asa Hutchinson issues Executive Order on June 15, 2020 concerning business liability due to COVID-19.
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FASB Delays Revenue Recognition Effective Date for Private Companies
FASB voted Wednesday to extend by one year the effective date of its revenue recognition standard to all nonpublic entities that have not yet issued their financial statements.
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Six Month Extensions Granted for Firm Peer Reviews
CPA firms will be granted six-month extensions for peer reviews, corrective actions, and implementation plans with original due dates between Jan. 1 and Sept. 30 of this year, according to a vote taken Thursday by the AICPA Peer Review Board (PRB).