As a fresh round of federal relief loans is getting distributed to U.S. small firms hit by a pandemic crisis that will soon stretch to a year, new research shows that last year’s tranches of the Paycheck Protection Program covered less than a month of business expenses. PPP loans provided
Small businesses in Nebraska, Oklahoma and other rural states have been the most successful at getting federal pandemic relief in the $284 billion round of aid that opened this month, buoyed by a new rule that authorizes loans to many farms that didn’t qualify before. Measured by their share of
The coronavirus pandemic has hit revenues at most companies around the world, but almost none of them feel that they’re lagging behind their competitors. A new report released Thursday by the Institute of Management Accountants, surveyed finance and accounting professionals internationally about the impact of the pandemic. The IMA polled
Tax professionals are starting to hear questions from their clients ahead of the official start of tax season about a variety of issues related to COVID-19. The Internal Revenue Service pushed back the beginning of tax season by over two weeks this year to Feb. 12, in part due to
Last Tuesday AICPA president and CEO Barry Melancon gave his annual presentation at the Accountants Club of America. It was a free virtual program and had about double its normal attendance. An article covering his talk appeared in Accounting Today. This was another fantastic program. Barry spoke for an hour
The Securities and Exchange Commission tapped deputy chief accountant Paul Munter to become acting chief accountant when chief accountant Sagar Teotia leaves in February. Teotia announced earlier this month that he would be departing next month, one of a number of SEC officials who are leaving now that a new
The Treasury Department said Friday it plans to launch an all-out effort to deliver Economic Impact Payments to people who haven’t yet received the two rounds of stimulus payments that they should have received last year or this month. The effort comes in response to an executive order from President
The Securities and Exchange Commission formally adopted amendments in November to modernize financial disclosure requirements to ease the compliance burden for SEC registrants and make disclosures more meaningful for investors. The updates focused on federal securities law Regulation S-K and are intended to “improve the quality and accessibility of the
Real estate investors have much to consider when deciding how to structure their businesses. From legal considerations to tax implications, these entrepreneurs face some unique challenges. In this article, I’ll share some insights to help you help your clients make an informed decision about which business entity will serve their
Investigators probing President Donald Trump’s finances have gotten hold of some of his tax records, allowing them to move ahead even without a Supreme Court order that would give them eight years of his returns. Manhattan District Attorney Cyrus Vance Jr., who subpoenaed Trump’s accounting firm Mazars USA in 2019,