Economy

An American Institute of CPAs official told lawmakers Wednesday why the application timeline for the Paycheck Protection Program should be extended as small businesses continue to face obstacles getting loans.

A buy-sell agreement between the joint owners of a closely held business or professional practice is critical for the orderly continuation of the business following a “triggering event,” such as the death, divorce, disability, bankruptcy, retirement or termination of an owner.

CalCPA adds new membership category; Maxwell Locke & Ritter celebrates 30 years; and more CPA news.

A donor has asked the IRS to open a fraud investigation into a nonprofit that builds schools in Africa, and for Canada’s federal police to seize its records.

The cloud accounting software maker is acquiring a provider of workday management and employee-scheduling software, for up to $219.7 million.

Hourly earnings and weekly hours worked at small businesses improved last month, according to payroll giant Paychex, while hiring dipped slightly during the pandemic.

A U.S. donor to Canada’s WE Charity said he has asked the Internal Revenue Service to open a fraud investigation into the organization after testifying that it took down a plaque on a Kenya school built to honor his dead son and replaced it with that of another donor.

The Internal Revenue Service is confronting some barriers in detecting improper conduct by tax-exempt organizations that abuse the federal tax laws.

More and more accountants are recommending their homeowner clients consider solar panels. Here’s why.

Two members of Congress teamed up Friday to introduce a bipartisan bill that would offer tax credits for income from tips to beauty salon owners and workers.

The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility on when to do impairment assessments of triggering events.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

One of the largest accounting firms in Canada struck a deal with Deloitte to acquire a significant portion of Deloitte’s business in Canada, by March 1.

The U.S. Small Business Administration is taking steps to remove some of the hangups in the Paycheck Protection Program after complaints from the American Institute of CPAs and others.

With blacked out or blank television screens, front pages and web portals, Poland’s private media companies protested against plans to implement a new advertising tax they say is a disguised government attempt to muffle criticism.

Nonprofit and for-profit organizations that received Paycheck Protection Program loans could unexpectedly find themselves confronting the “single audit” requirement for the first time, even though PPP loans are supposedly exempt.

The effect of S corp status on the emergency loans highlights the impact of a business' form.

The GREEN Act would encourage residential investments in green energy and energy efficiency, and incentivize greater adoption of zero-emission vehicles, among other things.

Knowing what is required and completing documentation in a timely fashion maximize the company’s opportunity to receive its incentive reward.

The American Institute of CPAs is asking the Small Business Administration to fix some problems that businesses are encountering when applying for loans from the Paycheck Protection Program.