Accounting

The Treasury Department and the Small Business Administration released an interim final rule for loan forgiveness under the Paycheck Protection Program, supporting small businesses with SBA-backed loans under the CARES Act that will be forgiven as long as they meet the requirements. Original Article Posted at : https://www.accountingtoday.com/news/treasury-sba-post-rules-for-paycheck-protection-program-loan-forgiveness

The class action claims banks aren’t paying practitioners their fair share. Original Article Posted at : https://www.accountingtoday.com/news/lawsuit-seeks-ppp-agent-fees-for-accountants

The International Auditing and Assurance Standards Board released guidance for auditors to consider when issuing audit reports amid the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/news/iaasb-offers-guidance-on-auditor-reporting-during-coronavirus

Your clients’ businesses evolve over time — and the business environment in which they operate changes as well, especially at a time like this. Original Article Posted at : https://www.accountingtoday.com/opinion/time-for-a-change-the-what-and-how-about-business-entity-conversion

Just as air travel was never the same after 9/11 and lending was never the same after the 2008 financial crisis, working in an office setting will never be the same post-pandemic. Original Article Posted at : https://www.accountingtoday.com/opinion/you-work-in-an-office-what-a-luxury

South Korean prosecutors have summoned Samsung Electronics Co. Vice Chairman Jay Y. Lee for questioning in an ongoing investigation into alleged accounting fraud and a controversial 2015 merger of two Samsung affiliates, dealing another legal blow to the country’s largest corporation. Original Article Posted at : https://www.accountingtoday.com/articles/samsung-heir-summoned-for-questioning-in-accounting-probe

From more OICs and higher state taxes, to managing NOLs and the long-term ramifications of the PPP, experts advice predictions for practitioners. Original Article Posted at : https://www.accountingtoday.com/list/looking-ahead-tax-planning-and-the-coronavirus

The short version of Hertz Global Holdings Inc.’s bankruptcy story goes something like this: Global pandemic obliterates the travel business and lands an iconic 102-year-old company in court to seek protection from creditors. Original Article Posted at : https://www.accountingtoday.com/articles/o-j-accounting-fraud-icahn-the-story-of-hertz-going-bust