Latest Articles

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May 27, 2021 

AICPAs Seeks Feedback on Insurance Entities Working Drafts

The FASB accounting standard on Long-Duration Contracts makes targeted improvements to the existing recognition, measurement, presentation, and disclosure requirements for long-duration contracts issued by an insurance company. FinREC and the AICPA ...

Coronavirus Checks Payments Stimulus

May 27, 2021 

IRS Sends Out 1.8 Million More Covid Stimulus Payments

The announcement covers the most recent two weeks of the effort brings the total disbursed so far to nearly 167 million payments. They represent a total value of approximately $391 billion since these payments began rolling out to Americans in batches ...

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May 27, 2021 

Post-pandemic Priorities: Reassess Your Target Markets

Yay! At long last we are finally seeing light at the end of the pandemic tunnel. With increasing vaccinations, many accounting firms, technology companies and service providers are slowly moving back from remote work to in-person environments.

irs building_10858577

May 27, 2021 

IRS Interest Rates Unchanged for Q3 2021

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

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May 26, 2021 

1 in 5 Private Company Execs Feel Unprepared on Lease Accounting

With just a few months to go before private organizations must include most leases on their balance sheets for fiscal years starting after Dec. 15, 2021 (i.e., calendar periods beginning Jan. 1, 2022), one-fifth (19.8%) of privately held organization ...