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The American Institute of CPAs’ Auditing Standards Board has decided to defer the effective dates of seven of its recently issued Statements on Auditing Standards because of the novel coronavirus pandemic.
Two Senate Democrats are criticizing a little-known provision of the CARES Act stimulus package that would provide a tax break mostly to wealthy taxpayers, suspending excess business losses for prior tax years.
The Internal Revenue Service announced new tool Get My Payment, enabling taxpayers to check on their Economic Impact Payment date and update direct deposit information.
The self-serve tool was in development before the coronavirus pandemic, but COVID-19 has provoked a major uptick in e-commerce business, which makes the tool very relevant now.
