Accounting

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May 11, 2020 

The Science and Art of Predicting Economic Growth or Recession

The tools economists use to measure economic activity to predict economic growth or recession across the U.S. are evolving – especially with the rise of online sales. And now, as the pandemic is shifting consumer habits and straining industries ...

Treasury Checks

May 11, 2020 

IRS Sees Dead People With Stimulus Checks

The IRS has discovered that it has mailed checks to deceased people by mistake. It’s unclear how many such checks have been delivered, but it’s thought to be significant, because about 2 million people in the U.S. die each year.

Coronavirus Payments by State 1

May 10, 2020 

IRS Releases State-by-State List of Coronavirus Stimulus Payments

The Treasury Department and the IRS have released updated state-by-state figures for Economic Impact Payments, with approximately 130 million individuals receiving payments worth more than $200 billion in the program’s first four weeks. (Up through May 8)

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May 8, 2020 

Unemployment Rate Hits 14.7%, Highest Since Great Depression

The U.S. economy suffered its biggest labor market shock on record, as government figures released Friday showed the COVID-19 pandemic erased 20.5 million jobs and sent the nation’s unemployment rate to 14.7%, the highest since the Great Depression.

 3 Tax Credits for Businesses Impacted by Covid-19

May 7, 2020 

3 Tax Credits for Businesses Impacted by Covid-19

The employee retention credit is designed to encourage businesses to keep employees on their payroll. The refundable tax credit is 50% of up to $10,000 in wages paid by an eligible employer whose business has been financially impacted by COVID-19.

ADP Jobs Report April 2020

May 7, 2020 

20 Million Jobs Lost Between Mid-March and Mid-April

Private payrolls slumped by 20.2 million from a month earlier, according to ADP Research Institute data released Wednesday. Employment in March was revised down to a 149,000 decrease from a previously reported 27,000 drop.