Economy

The international group has published a roadmap that focuses on four main areas of change.

Small businesses that manage to get their Paycheck Protection Program loans forgiven may find themselves losing valuable tax breaks, according to new guidance from the Internal Revenue Service.

Accountants share unique problems faced by four different industries.

The American Institute of CPAs offered suggestions on how the federal government’s Paycheck Protection Program should deal with forgiving loans.

Payroll giant Paychex is partnering with Biz2Credit, Fundera and Lendio to help small businesses apply for the new funding offered by the U.S. Small Business Administration’s Paycheck Protection Program.

Treasury Secretary Steven Mnuchin says the additional funding Congress approved Thursday to help small businesses survive the coronavirus pandemic should be the last round, but advocates fear it’ll run out quickly and won’t be enough for mom-and-pop shops struggling to stay open.

The Internal Revenue Service and the Treasury Department issued proposed regulations on a provision of the Tax Cuts and Jobs Act.

While the new stimulus package provides much-needed additional funding for the Paycheck Protection Program, it made no significant changes to the process of qualifying for a loan.

Tycoon OK Lim and his family are set to hand over management of the company founded in 1963 to PricewaterhouseCoopers LLP, deepening the demise of an empire Lim built into one of Singapore’s most powerful oil traders.