Accounting
Weighing the Benefits of Permitting Business Credit Cashouts in Phase 4 Economic Relief
As policymakers explore options for additional business tax relief in “Phase 4” of coronavirus relief legislation, one idea that has received renewed attention over the last week is allowing businesses to cash out business tax credits allowed under Section 38 of the Internal Revenue Code. This proposal would be strengthened by also permitting acceleration of…
Read MoreIRS warns nursing homes: Don’t grab patients’ coronavirus stimulus payments
The Internal Revenue Service told nursing homes and other care facilities Tuesday that they shouldn’t be seizing their residents’ economic impact payments. Original Article Posted at : https://www.accountingtoday.com/news/irs-warns-nursing-homes-dont-grab-patients-coronavirus-stimulus-payments
Read MoreMain Street Lending Program gets underway as alternative to PPP
The lender portal for the Federal Reserve’s Main Street Lending Program has opened as the long-awaited alternative to the problem-plagued Paycheck Protection Program after weeks of delays. Original Article Posted at : https://www.accountingtoday.com/news/main-street-lending-programs-gets-underway-as-alternative-to-ppp
Read MoreGermany Adopts a Temporary VAT Cut
This month, the German government agreed to a new round of fiscal support for the economy in light of the challenges from the ongoing pandemic. The total cost of the new package is €130 billion and is in addition to the supplementary budget adopted earlier in the year of €156 billion. Combined, the two fiscal…
Read MoreCLA opens registration for virtual summer program
Top 10 Firm CliftonLarsonAllen will hold an online Summer Experience Program on June 24, 2020, offering students, parents and faculty an information session on professional life at the firm. Original Article Posted at : https://www.accountingtoday.com/news/cla-opens-registration-for-virtual-summer-program
Read MoreCARES Act offers overlooked opportunities for tax refunds, but first check cross-border prices
Some multinational companies can generate additional carryback tax loss relief through transfer pricing planning. Original Article Posted at : https://www.accountingtoday.com/opinion/cares-act-offers-overlooked-opportunities-for-tax-refunds-but-first-check-cross-border-prices
Read MoreThe tax rule that inspired billionaires and movie stars to back climate moonshots
A little-used part of the U.S. tax code allows foundations to use some of their endowments as “program-related investments.” Original Article Posted at : https://www.accountingtoday.com/articles/the-tax-rule-that-inspired-billionaires-and-movie-stars-to-back-climate-moonshots
Read MoreU.S. family offices lead global ranks with $396K salaries
It pays to be a senior executive in a U.S. family office. Private investment firms of rich families there have the greatest number of C-suite executives making more than $396,000 a year. Original Article Posted at : https://www.accountingtoday.com/articles/u-s-family-offices-lead-global-ranks-with-396k-salaries
Read MoreSeattle Officials Return with New Proposal for Taxing Employment
Seattle’s city council—or at least a few of its members—are again gearing up for an effort to increase taxes on the city’s largest employers. The targets of the proposed taxes have been constant; the nature of the tax and what it is intended to fund has been a moving target. The latest proposal would place…
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