The guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.
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November 20, 2020
Upcoming Events November 20, 2020
Daily Briefing
IRS clarifies deductibility of PPP loan expenses, as AICPA criticizes forgiveness questionnaire
By Michael Cohn      6 min read
The guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.
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PCAOB aligns auditor independence rules with SEC
By Michael Cohn      2 min read
PCAOB aligns auditor independence rules with SEC
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Intuit introduces HubSpot for QuickBooks
By Ranica Arrowsmith      2 min read
The offering brings CRM directly into the QuickBooks Online environment.
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SEC relaxes MD&A disclosure requirements
By Michael Cohn      3 min read
The Securities and Exchange Commission voted to amend the disclosure requirements in the Management’s Discussion and Analysis portion of financial reports.
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2020 Year-End Planning – Tax moves to make now
Get handy checklists to prepare your clients for success with this time-sensitive special report.
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IRS plans a 50% ramp-up in small-biz audits next year
By Laura Davison      2 min read
The enforcement push comes after years of persistently low examination rates.
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4 tips for organizations looking to build on their culture of inclusion
By Shannon Schuyler      5 min read
Creating the depth of an inclusive culture that demonstrates and activates a diverse workplace is an intentional effort at PwC.
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M&A roundup: Baker Tilly, ABIP and Benning expand
By Michael Cohn
Baker Tilly is acquiring Brown Adams Agbayani; ABIP CPAs & Advisors is combining with Parr & Associates; and Benning Group is merging in Boeke & Associates.
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IRS makes final push before stimulus payment deadline
By Michael Cohn      2 min read
The Internal Revenue Service reminded taxpayers Thursday that they only have until Nov. 21 at 3 p.m. Eastern Time to register for an Economic Impact Payment of $1,200 or more.
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Taxaroo adds Spanish workflows, referral program to software
By Ranica Arrowsmith      2 min read
The referral program is particularly timely in the age of COVID, as digitally enabled sales interactions have become twice as important as prior to the pandemic, according to a McKinsey report.
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Tax Fraud Blotter: Fast, fuel, FEMA and fraud
By Jeff Stimpson      5 min read
Drug money; Phoenix descending; stepping down; and other highlights of recent tax cases.
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SPONSOR CONTENT
The cost of a cyber-attack isn’t (only) financial.
Don’t let even one minor data breach eradicate clients’ trust in your firm. Follow the IRS “Security 6” and protect client data.
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