Coronavirus

The IRS and the Treasury Department are giving small businesses that received Paycheck Protection Program loans in the first round a way to deduct expenses they couldn’t claim last year.

COVID-19 has been forcing accounting and finance teams to work remotely since last year, prompting reconsideration of how to do financial reporting in the future.

President Joe Biden called on employers to use a tax credit to provide paid time off to workers to get vaccinated and for businesses to do more to boost the inoculation effort as the U.S. seeks to get shots in more arms.

A dedicated address for Forms 9410-X would be a start, the company told the IRS.

Finance leaders are in a pivotal position to be even more strategic partners to leaders across the enterprise.

Only 39 percent of employers with fewer than 500 employees are aware of the ERTC and only one in five business owners plans to claim the ERTC.

The Internal Revenue Service is suspending a requirement for taxpayers who received too much on their advance payments for the Premium Tax Credit last year to repay the excess amount.

The Internal Revenue Service is providing penalty relief for an employer’s failure to deposit employment taxes with the IRS on a timely basis.

Accountants expressed much higher confidence in the economy during the first quarter of this year compared to last year, especially in North America, according to a new survey.

The Big Four firm is encouraging employees to use their vacation days by actually paying them additional money to do it.

Security experts are seeing a rise this tax season in phishing schemes and malware tied to hot-button subjects like tax refunds, stimulus payments and COVID-19 vaccines.

The long-awaited aid program aims to help music venues, performing arts groups, nightclubs, movie theaters and museums.

Notice 2021-25 offers details on a provision of the COVID-19 relief package from last December that allows a temporarily larger deduction.

The Treasury and the IRS have sent out roughly 156 million payments to people, totaling roughly $372 billion.

The board is planning changes in how it conducts inspections of audit firms, and where it will focus.

From adding new services to changing investment strategy, accounting firms are finding a new way to serve their clients following an unprecedented year.

The service intends to take steps to automatically refund money starting in May and continuing through the summer.

The service released a FAQ to explain how students and universities should report emergency financial aid grants related to the pandemic.

As companies prepare to file for the upcoming tax season, businesses face uncertainty emerging from an enduring pandemic. Further, dealing with multiple jurisdictions’ changing laws, deadlines and requirements can often require a small army of specialists.

The economy continued to rebound this year despite the ongoing COVID-19 pandemic, payroll giant ADP reported Wednesday.