Accounting

April 26, 2020 

As of April 17, 2020, the IRS reported that 115,961,000 individuals had filed their 2019 tax returns, compared to 137,233,000 returns filed for 2018 by April 19, 2019. That is 21,272,000 less— a drop-off of 15.5%.

April 25, 2020 

Supplemental Security Income and Department of Veterans Affairs beneficiaries need to act by May 5 if they didn’t file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment.

April 24, 2020 

As the COVID-19 pandemic has strained the U.S. economy and put millions out of work, Americans have experienced the biggest drop in their personal financial satisfaction in more than a decade.

April 24, 2020 

Under the Coronavirus Aid, Relief and Economic Security (CARES) Act that was signed into law on March 27, 2020, businesses may delay paying the employer portion of the Social Security payroll taxes on wages paid for the period from ...

April 24, 2020 

Firms that already had at least one cloud system in place prior to the COVID-19 pandemic fared far better than firms that did not have any cloud systems in place.

April 24, 2020 

The final bill includes $320 billion to make new loans under the Paycheck Protection Program, which provides forgivable loans to small business that keep employees on the payroll for eight weeks. The measure includes $60 billion in EIDL.

April 23, 2020 

As the country works to navigate changes in federal and state tax filing and payment deadlines as a result of the global coronavirus pandemic, the American Institute of CPAs (AICPA) is providing recommendations for administrative, filing and payment ...

April 23, 2020 

Business travel and entertainment have come to a standstill. Many companies have switched almost entirely to working from home to enforce social distancing or comply with mandatory shelter-in-place mandates.

April 23, 2020 

The AICPA, after discussions with its coalition partners, and key banking leaders and stakeholders, is working to drive a common understanding and approach around the firm – lender relationship related to the implementation of the PPP.

April 23, 2020 

The new cash application engine includes many new features that enable accounting, finance and operations teams to automatically identify, import and match unapplied payments with invoices, balances and customers.

April 22, 2020 

Covid-19 hit the labor market like a sledgehammer in March and April, driving mass layoffs in the U.S. to their highest point since World War II. 22 million Americans have lost their jobs during the outbreak, and 14% of the country’s workforce isn’t ...

April 22, 2020 

In addition, 68% of survey respondents reported applying for a Paycheck Protection Program loan before funding for the $350 billion program to help small businesses weather the COVID-19 crisis ran dry last week.