Economy

Growth in small business jobs and wages declined last month as a result of the novel coronavirus pandemic, according to payroll giant Paychex.

The economic fallout from the coronavirus pandemic is continuing.

The Internal Revenue Service will allow businesses that got their Paycheck Protection Program loans forgiven to write off expenses paid for with that money, shifting policy after Congress passed new legislation last month.

The Internal Revenue Service and the Treasury Department released final regulations on how businesses can claim a tax credit for use of carbon capture equipment to help the environment.

Professional services like accounting and tax prep gained 12,000 jobs, however, according to the payroll giant.

The Internal Revenue Service issued a revised Form 1024-A Tuesday, along with instructions permitting it to be filed electronically.

The bill has far-reaching tax consequences, including in the world of specialty tax.

The Internal Revenue Service and the Treasury Department released guidance that offers an extension of a safe harbor for developers of renewable energy projects located either offshore or on federal land.

The relief bill includes an extension of the 45Q tax credit, which gives companies a tax break for capturing carbon..

As the time comes for businesses to apply for PPP loan forgiveness, CPAs can provide vital assistance to ensure success for their clients.