Journal Of Accountancy News

Latest News from Journal Of Accountancy

Quarantines prompted by the coronavirus pandemic have forced many organizations to deploy and configure technology to support 100% remote work and/or a mix of working remotely on certain days.
Posted: July 7, 2020, 1:35 pm
The SBA and Treasury published a trove of loan-level data about the Paycheck Protection Program. The release includes the names of all PPP recipients that received loans for $150,000 or more.
Posted: July 6, 2020, 7:18 pm
The IRS issued proposed and temporary regulations explaining how consolidated groups should apply the changes to the net operating loss rules enacted by the CARES Act.
Posted: July 6, 2020, 5:40 pm
GASB issued a technical bulletin to help state and local governments apply existing standards to transactions related to coronavirus relief legislation and certain outflows incurred in response to the pandemic.
Posted: July 6, 2020, 4:33 pm
President Donald Trump signed a bill Saturday re-opening the application window for Paycheck Protection Program loans until Aug. 8. The five-week extension is intended to keep assistance available to struggling small businesses while Congress works on a new, more targeted program.
Posted: July 6, 2020, 10:40 am
The global pandemic has offered many lessons in impermanence, including how parts of the tax reform legislation that seemed monumental upon its passage two and a half years ago have been temporarily rolled back to provide badly needed relief.
Posted: July 6, 2020, 10:00 am
Here are nine tips from CPAs on how to get their emails noticed in clients’ inboxes and how to communicate more effectively and efficiently.
Posted: July 2, 2020, 4:45 pm
Public company auditors can play an important role in enhancing the reliability of company disclosures on environmental, social and governance information, according to a new Center for Audit Quality report.
Posted: July 1, 2020, 8:15 pm
GASB issued a proposed concepts statement on recognition of financial statement elements and a request for comment on preliminary views on revenue and expense recognition model proposals.
Posted: July 1, 2020, 5:12 pm
The AICPA Tax Policy and Advocacy team produced six tax-related comment letters in June with a goal of assisting accounting professionals and taxpayers.
Posted: July 1, 2020, 2:42 pm
New Technical Questions and Answers issued by the AICPA discuss accounting issues lenders have encountered related to the Paycheck Protection Program.
Posted: June 30, 2020, 7:34 pm
The IRS announced that it will not further postpone federal tax filing and payment deadlines beyond July 15.
Posted: June 30, 2020, 4:30 pm
Here are tips that help CPAs understand which service they should provide as well as other important issues related to the PPP.
Posted: June 30, 2020, 3:50 pm
Changes once considered radical have become the norm in the accounting profession. Firm leaders share their lessons learned.
Posted: June 29, 2020, 7:35 pm
Updated guidance issued by the Treasury Department and the U.S. SBA addresses PPP loan maturity dates for all borrowers as well as maximum loan amounts for certain self-employed individuals.
Posted: June 27, 2020, 9:06 pm

The Tax Adviser News

Latest News from The Tax Adviser

The IRS issued proposed and temporary regulations explaining how consolidated groups should apply the changes to the net operating loss rules enacted by the CARES Act.
Posted: July 6, 2020, 6:00 pm
The IRS announced that it will not further postpone federal tax filing and payment deadlines beyond July 15.
Posted: June 30, 2020, 6:00 pm
The IRS issued final regulations allowing regulated investment companies (RICs) to report qualified real estate investment trust (REIT) dividends as Sec. 199A dividends to their shareholders.
Posted: June 24, 2020, 4:30 pm
The IRS provides relief for taxpayers who had already taken required minimum distributions (RMDs) in 2020 before the CARES Act suspended the RMD requirement for 2020 in response to the coronavirus pandemic and its effect on taxpayers and the stock market.
Posted: June 23, 2020, 7:34 pm
The IRS issued proposed regulations implementing changes to Sec. 274 that disallow a deduction for the expense of any Sec. 132(f) qualified transportation fringe provided to an employee, effective for amounts paid or incurred after Dec. 31, 2017.
Posted: June 22, 2020, 5:00 pm
The IRS released guidance on how taxpayers can take coronavirus-related distributions from qualified retirement plans as authorized by the CARES Act.
Posted: June 19, 2020, 6:51 pm
The IRS announced that employers may make donations this year to charitable organizations that provide relief to COVID-19 pandemic victims in exchange for personal leave that their employees forgo.
Posted: June 11, 2020, 9:06 pm
The IRS issued proposed regulations defining direct primary care arrangements with doctors and health care sharing ministries and how payments for them can qualify as Sec. 213 medical expenses.
Posted: June 9, 2020, 4:55 pm
In a letter to the IRS, the AICPA asked the IRS to permanently amend its electronic signature procedures to make it easier for taxpayers and practitioners to e-file all types of returns.
Posted: June 8, 2020, 9:13 pm
In response to the COVID-19 pandemic, the IRS further postponed the 180-day deadline to invest in a qualified opportunity fund from July 15, 2020, to Dec. 31, 2020, extended other deadlines, and relaxed some qualified investment rules.
Posted: June 5, 2020, 4:01 pm
Practitioners must carefully review Notice 2020-23 to understand the full scope of filing relief granted by the IRS in response to hardships caused by the coronavirus pandemic.
Posted: June 4, 2020, 6:00 pm
In another response to the COVID-19 pandemic, the IRS is allowing retirement plan participants who want to take coronavirus-related distributions from their retirement plans to provide remote signatures, even for spousal consents.
Posted: June 3, 2020, 10:39 pm
The IRS announced that taxpayers will be able to electronically file Forms 1040-X, Amended U.S. Individual Income Tax Return, later this summer.
Posted: May 28, 2020, 8:45 pm
The IRS finalized regulations permitting tax-exempt organizations other than Sec. 501(c)(3) orgs. to omit the names of substantial donors when filing Forms 990, Return of Organization Exempt From Income Tax.
Posted: May 27, 2020, 6:45 pm
The IRS issued long-promised proposed regulations explaining how taxpayers who may qualify for the Sec 36B premium tax credit are affected by the temporary reduction of the personal exemption deduction under Sec. 151 to zero.
Posted: May 26, 2020, 5:41 pm