News

The U.S. Small Business Administration (SBA) and Treasury issued guidance late Wednesday night for the reconstituted Paycheck Protection Program (PPP). The guidance came in the form of two interim final rules (IFRs).

IRS Issues 2021 Mileage Rates

AICPA Special News Alert regarding federal stimulus legislation Coronavirus Response & Relief Supplemental Appropriations Act

The certified public accounting firms of Hudson Cisne & Co. LLP, and Jones & Company, LTD, are pleased to announce their merger effective January 1, 2021. The combined firm will be known as HCJ CPAs & Advisors, PLLC.

William L. Cook, II Former ARCPA Past President and Longtime Member Dies

Tax practitioners who use two CCH return preparation products reported problems with corrupted files and an inability to e-file returns on Sept. 15, resulting in tax returns that were not filed on time.

With Sept. 15 tax filing deadlines looming, some tax practitioners have expressed concerns that they will not be able to meet those deadlines for a variety of reasons related to the global pandemic. Issues mentioned by AICPA members range from the extra time spent with economically challenged clients; to unexpected deadlines due to assisting with Paycheck Protection Program (PPP) loan applications and the PPP loan forgiveness process; to clients, members, and staff being incapacitated with COVID-19.

The IRS announced Monday that it has begun accepting Forms 1040-X, Amended U.S. Individual Income Tax Return, electronically, which it calls a “major milestone in tax administration” (IR-2020-182).

The AICPA on Wednesday, August 12, 2020, sent a letter to Treasury and the IRS requesting guidance on the recent presidential memorandum deferring some employee payroll taxes until next year.