March 28, 2021
The additional 60 days provided by the PPP Extension Act will greatly help small businesses, non-profits and the CPAs that serve them complete existing and file new PPP loan applications. AICPA believes that this extension gives the SBA time to update ..
March 28, 2021
21 percent of business executives said their companies expected some downward revision in office space in the coming year, compared to 18 percent in the third quarter last year. The lack of action by others reflects to a large degree the ...
March 18, 2021
Failure to include estimated payments nullifies any benefit of a postponement since the tax return work has to be done to calculate estimated payments. More than 9.5 million individual returns filed in for the 2018 tax year included estimated payments.
March 16, 2021
“Even the IRS – faced with a significant mail processing backlog, a delayed start of the 2021 tax season, inundated phone lines, and a new round of COVID-19 relief payments – is overwhelmed. Denying a postponement of this filing and payment deadline ...
March 16, 2021
The many thousands of CPAs advising small businesses and non-profits have a front-line view of how a PPP loan has allowed their clients to remain in business. CPAs also experience clients’ challenges with the application and forgiveness process.
March 11, 2021
Simpson also called upon Congress to extend the PPP application deadline by at least 60 days after March 31, 2021, citing urgent challenges facing small business and their CPA advisors, ...
March 10, 2021
The American Institute of CPAs (AICPA) encourages qualified students to apply for the 2021 Accounting Scholars Leadership Workshop (ASLW) being held October 13-15 in New Orleans.
March 5, 2021
The closing letter is issued to an executor of a decedent’s estate for which a Form 706, U.S. Estate (and Generation-Skipping Transfer) Tax Return, or Form 706-NA, United States Estate (and Generation-Skipping Transfer) Tax Return ...
March 5, 2021
"We strongly urge the SBA to revise its guidance to be retroactive and to extend the PPP application window by at least 60 days so everyone, including lenders, small businesses and the CPAs who advise them, has enough time to adapt to changing ...
March 4, 2021
In a letter to the Department of the Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) called for the extension of the filing and payment deadline for the 2020 tax year until June 15, 2021.
March 4, 2021
Following the submission of AICPA’s recommendations, the IRS released guidance on the ERC. However, the guidance failed to clarify whether wages paid to S corporation owners and their actively employed spouses qualify for the ERC if all other ...
March 4, 2021
While the percentage of business executives who expressed optimism about the U.S. economy rose from 37 percent to 47 percent this quarter, that still means the majority remain pessimistic or neutral. More than three-quarters (76 percent) of survey ...