News
The Internal Revenue Service and the Treasury Department provided guidance to employers requiring them to report the amount of qualified sick and family leave wages they have paid to their employees under the Families First Coronavirus Response Act on Form W-2.
New guidance on reporting sick and family leave wages for coronavirus relief
The Financial Accounting Standards Board released a proposed accounting standards update to help insurance companies adversely affected by the COVID-19 pandemic by giving them an extra year to implement the long-duration insurance accounting standard.
FASB proposes to delay insurance standard due to coronavirus, but ease early adoption
The U.S. Supreme Court cleared a New York grand jury to get President Donald Trump’s financial records while blocking for now House subpoenas that might have led to their public release before the election.
Supreme Court grants N.Y. access to Trump taxes, blocks House
Box 7 on the 1099-MISC is moving to its own form in January 2021, and companies need to be ready.
2020 is testing the profession’s resiliency like nothing has before, and accountants are losing sleep, skipping vacations, and working longer hours to adapt to the challenges COVID-19 has brought.
Under stress, accountants seek new tech to get through the pandemic
The service reminded taxpayers they will need to resume paying their taxes on July 15, but the AICPA is asking for further relief, as an inspector general report sheds light on the unprecedented filing season.
IRS to start collecting overdue tax payments as AICPA urges continued relief
The Association of Chartered Certified Accountants and the PrimeGlobal association of accounting firms have signed an agreement to work together on several projects.
The Institute of Internal Auditors and the International Federation of Accountants are calling on audit committees to be vigilant about risk management, performance, controls and processes during the COVID-19 pandemic.
IIA, IFAC urge audit committees to address coronavirus risks
The explosion in e-commerce since early March has resulted in a significant increase in online sales tax revenues in most states.
Coronavirus and Wayfair at 2: The perfect storm for online retailers
A “new normal” is framing day-to-day life as those in professional services return to work.
How accounting firms can reactivate their workforce after COVID-19
