Payroll companies need guidelines on how to implement President Trump's executive order before they can start processing paychecks next month.
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August 15, 2020
Upcoming Events August 15, 2020
Payroll processors await IRS guidance on tax deferral
By Michael Cohn      8 min read
Payroll companies need guidelines on how to implement President Trump's executive order before they can start processing paychecks next month.
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Employers face payroll tax dilemma after Trump delays due date
By Laura Davison     3 min read
President Donald Trump’s order to delay collection of payroll taxes thrusts a dilemma on U.S. companies: continue withholding the money from workers expecting bigger paychecks or pass it on and potentially put themselves or their employees at risk of a big end-of-year bill from the IRS.
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Grant Thornton faces appeal on fraud and negligence lawsuit
By Michael Cohn     7 min read
The firm is awaiting a ruling in a case involving a manufacturing company owner who sued the firm for fraud, negligence and other claims after the firm failed to advise him of a tax strategy.
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SBA offers guidance on appealing rejections of PPP loan forgiveness
By Michael Cohn     4 min read
The U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision.
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Trump orders extended jobless benefits, payroll tax deferral
By Justin Sink     5 min read
President Donald Trump announced four executive actions on Saturday, including continued expanded unemployment benefits and a temporary payroll tax deferral for some workers, as the coronavirus pandemic continues to hobble the U.S. economy.
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Baker Tilly merges in Squar Milner
By Michael Cohn     3 min read
Two major CPA firms, Baker Tilly and Squar Milner, are joining forces, with the combined firm likely to become one of the 10 largest accounting firms in the U.S. when the deal takes effect on Nov. 1.
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AICPA asks IRS and Treasury for clarity on Trump’s payroll tax deferral
By Michael Cohn     4 min read
The American Institute of CPAs has sent a letter to top officials asking for more guidance on the president's executive order.
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IRS reopens registration for $500 stimulus claims for children
By Michael Cohn     5 min read
The Internal Revenue Service is giving parents another chance to list their kids so they can receive an extra $500 per child in economic impact payments under the CARES Act.
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IRS gives businesses a break for donations related to SALT cap
By Laura Davison     1 min read
Businesses donating to charitable funds in exchange for a state tax credit can deduct those costs from their federal taxes, according to regulations released on Friday.
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PwC expands corporate managed tax services in response to coronavirus
By Michael Cohn     6 min read
PricewaterhouseCoopers has been building its managed tax services business since 2017, but now it sees an opportunity to help companies who are dealing with COVID-19.
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