DAILY BRIEFING

View in browser

May 20, 2021

Prepared for Voornaam

IRS updates COBRA guidance for employers

By Jeff Stimpson       1 min read

Notice 2021-31 explains a new credit from the American Rescue Plan Act. View story →

SBA to end applications Monday for Restaurant Revitalization Fund

By Michael Cohn       4 min read

The U,S, Small Business Administration is urging food and beverage establishments to submit their applications for the Restaurant Revitalization Fund by next Monday.  View story →

RELATED

For CFOs, digital transformation is a post-pandemic must →

The pandemic has created renewed urgency for CFOs to automate finance and accounting.

IRS loses Supreme Court case involving microcaptives

By Michael Cohn       4 min read

The court unanimously ruled against the service in a decision enabling taxpayers to sue over a tax regulation, even before any penalty has been assessed. View story →

Microsoft eyes Cloud PC service, and other tech stories you may have missed

By Gene Marks      

PC sales are booming, and nine other developments in technology from the past month.  View story →

For CFOs, digital transformation is a post-pandemic must

By Marc Huffman       4 min read

The pandemic has created renewed urgency for CFOs to automate finance and accounting. View story →

SPONSOR CONTENT

Understanding cryptocurrency: A guide for accountants

With cryptocurrency gaining acceptance, help your clients navigate the complexity of virtual money. Read Now →

5 ways to get your team to think like a CFO

By Jeanne Hardy       3 min read

There’s never been a better time to empower your team to adopt a more strategic and proactive attitude when engaging clients. View story →

Follow Accounting Today in real time. More ways to get the most trusted industry news and analysis.

Twitter

Facebook

LinkedIn

Modernize the monthly financial close process

By Mike Whitmire       4 min read

Knowing where your client’s business stands financially has never been more critical for its financial health than now.  View story →

Yellen gets cool reception from business on infrastructure plea

By Christopher Condon and Ilya Banares       2 min read

Business groups were unmoved by the Treasury Secretary’s call for U.S. companies to accept higher taxes in return for a huge public investment in infrastructure aimed at boosting the American economy.  View story →

N.Y. AG opens criminal probe of Trump Organization

By Erik Larson and Greg Farrell       2 min read

Investigators have been trying to determine whether the company gave an accurate valuation for its Seven Springs property when it served as the basis for about $21.1 million in tax deductions for donating a conservation easement for the 2015 tax year. View story →

BlackLine releases intelligent AR product

By Ranica Arrowsmith       2 min read

The new accounts receivable software uses real-time data and analytics to help controllers understand their customers’ financial behavior. View story →

EU eyes new tax framework going beyond current global plans

By William Horobin       3 min read

A proposal to create a more coherent tax regime for the bloc would require unanimity among its 27 member states. Read story →

In the blogs: Coping and hoping

By Jeff Stimpson       3 min read

The ARP and local aid; advocating for higher taxes; a question of dependency; and other highlights from our favorite tax bloggers. Read story →

Yellen pitches corporate tax hike to business skeptics

By Saleha Mohsin       1 min read

Higher taxes on companies can fund infrastructure investments that will boost profits, she tells the U.S. Chamber of Commerce. Read story →

With advisor fees no longer deductible, paying them comes with tax tradeoffs

By Lynnley Browning       4 min read

Pulling the costs directly out of clients’ IRAs can blunt the sting, but it shrinks the pot of tax-deferred retirement assets. Read story →

Remote nexus scores final victory in last holdout state

By Roger Russell       3 min read

The last of the ‘Wayfair dominoes’ falls with Missouri’s new legislation. Read story →

RESOURCES

WEB SEMINAR

Mastering lease accounting and ASC 842 implementation

Thursday, May 20, 2021 2:00 PM EDT

The ASC 842 lease accounting standard for non-public companies will be required beginning in 2022.  Learn More →

SPONSOR CONTENT FROM SAGE INTACCT

WEB SEMINAR

Transforming audit by embracing digital

Tuesday, June 15, 2021 2:00 PM EDT

The digital revolution is here. The potential benefits for accounting firms are significant. Firms leveraging cutting-edge digital technologies and navigating new ways of working are adding value to their clients and staff. Learn More →

SPONSOR CONTENT FROM INFLO

REPORT

The CPA cybersecurity checklist: What firms need to do to protect their data

Find out where your cyber vulnerabilities are...before the hackers do. Learn which key areas need to be checked ASAP.  Learn More →

SPONSOR CONTENT FROM RIGHT NETWORKS

More resources →