CARES Act

The latest round of coronavirus stimulus legislation includes some major tax provisions and changes for accountants to watch out for in the New Year.

Greg Engel is anticipating another year of tumultuous changes as clients deal with the coronavirus pandemic and new policies from the incoming Biden administration.

Lawmakers are seeking to address some of the PPP’s more obvious failings in the latest coronavirus bill.

What Congress, clients and others did this year, and how it will impact next year.

The twin dynamics of expiring relief and a transition to a new presidential administration are making the end of 2020 a turbo-charged version of the usual rush to lock in tax reductions.

The American Institute of CPAs has joined with over 560 business and trade organizations in urging Congress to pass legislation.

The service also estimates that more than 90 percent of individual returns were efiled this year.

Economic experts believe the current surge is not enough to stop continued losses incurred by various segments of economy.

The Treasury secretary will put the unspent CARES Act funding into an account that his presumed successor will soon need authorization from Congress to use.

With a CARES Act fix stalled along with stimulus legislation, the institute is urging CPAs to put pressure on their representatives.

The top Republican and Democrat on the Senate Finance Committee said the Treasury Department “missed the mark” in new guidance that limits tax breaks for businesses that get their Paycheck Protection Program loans forgiven.

The Internal Revenue Service reminded taxpayers Thursday that they only have until Nov. 21 at 3 p.m. Eastern Time to register for an Economic Impact Payment of $1,200 or more.

The single-family house on Forestview Avenue in Euclid, Ohio, a suburb of Cleveland, shows no signs of farming activity. The only things growing on the one-eighth-acre plot are trees, shrubs and grass.

Practitioners share how they handled charging for stimulus services, and interacting with clients.

Regardless of who wins the White House, the scope for tax legislation in the near term will be limited.

COVID-19, the election and much more all need to be taken into account.

The American Accounting Association has issued a rare rebuke to Congress criticizing government interference in accounting standards.

The coronavirus pandemic has introduced a number of new areas that companies need to address.

The U.S. Small Business Administration and the Treasury Department are making it easier for companies to get their Paycheck Protection Program loans of $50,000 or less forgiven.

The CARES Act will play a critical role, according to Grant Thornton.