Tycoon behind Luckin loses $1B after accounting scandal

The accounting scandal at Starbucks Corp.’s biggest competitor in China triggered a rout in shares linked to the company’s chairman, wiping out most of his wealth and knocking the tycoon out of the ranks of China’s billionaires.

Tycoon behind Luckin loses B after accounting scandal


Coronavirus rescue plan for U.S. small business kicks off beset by concerns

The Trump administration’s $349 billion small-business rescue kicked off Friday surrounded by concerns about its ability to handle an expected flood of applications and deliver enough aid to mom-and-pop firms hit hardest by the coronavirus pandemic.

Coronavirus rescue plan for U.S. small business kicks off beset by concerns


Some coronavirus stimulus checks may not arrive until September

Some people counting on $1,200 stimulus checks from the government may not see the money until mid-September, according to a House Ways and Means Committee analysis.

Some coronavirus stimulus checks may not arrive until September


Leading a 100-percent remote workforce during coronavirus

For years now, my CPA firm has had the ability to work remotely. Never, though, did I consider a scenario where everyone would be working from home for weeks on end.

Leading a 100-percent remote workforce during coronavirus


Tax Fraud Blotter: Civic misbehavior

Over the Topps; a thirst for fraud; the sky is limited; and other highlights of recent tax cases.

Tax Fraud Blotter: Civic misbehavior


Intuit joins GoFundMe, Yelp to provide small-business relief

The Small Business Relief Initiative is designed to get money in the hands of small businesses specifically struggling to pay employees and business expenses during the pandemic.

Intuit joins GoFundMe, Yelp to provide small-business relief


GASB releases guidance on LIBOR transition

The Governmental Accounting Standards Board published guidance to help state and local governments transition move to newer reference rates that are less prone to market manipulation.

GASB releases guidance on LIBOR transition


IRS warns of coronavirus-related tax scams

The Internal Revenue Service issued a warning urging taxpayers to beware of scammers calling and emailing them about the stimulus payments they are expecting as a result of last week’s CARES Act.

IRS warns of coronavirus-related tax scams


You might have a tax shelter and not know it. Coronavirus could make matters worse

Ask the average business owner if they have a tax shelter and they’d probably have a chuckle while wistfully thinking about how nice it would be to swim in crystal clear waters while their offshore bank accounts grew, unencumbered by state and federal taxes.

You might have a tax shelter and not know it. Coronavirus could make matters worse


FASB mulls pushing back accounting standards deadlines in response to coronavirus

The Financial Accounting Standards Board will be meeting next week to discuss the impact of the novel coronavirus pandemic on its stakeholders, including pushing back the effective dates of some of its upcoming accounting standards.

FASB mulls pushing back accounting standards deadlines in response to coronavirus