Employee expense reports evolving during coronavirus pandemic

Businesses are seeing their employees expense reports changing since the start of the coronavirus outbreak months ago, with hotel and airline cancellation charges giving way to more requests for work-from-home charges. Original Article Posted at : https://www.accountingtoday.com/news/employee-expense-reports-evolving-during-coronavirus-pandemic

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Trump pursues payroll tax cut as GOP, Democrats look elsewhere

A big cut in the payroll tax is high on President Donald Trump’s wish list for the next coronavirus response bill, but the idea is getting the brushoff from newly cost-conscious Republicans and Democrats who would rather send aid to people who aren’t getting a paycheck. Original Article Posted at : https://www.accountingtoday.com/articles/trump-pursues-payroll-tax-cut-as-gop-democrats-look-elsewhere

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Rich Americans seize historic chance to pass on wealth tax-free

Rich Americans are taking advantage of an unprecedented opportunity, made possible by the coronavirus pandemic, to transfer money to their children and grandchildren tax-free. Original Article Posted at : https://www.accountingtoday.com/articles/rich-americans-seize-historic-chance-to-pass-on-wealth-tax-free

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IRS denies deductions for forgiven paycheck protection loans

Small businesses that manage to get their Paycheck Protection Program loans forgiven may find themselves losing valuable tax breaks, according to new guidance from the Internal Revenue Service. Original Article Posted at : https://www.accountingtoday.com/articles/irs-denies-deductions-for-forgiven-paycheck-protection-loans

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How firms can effectively respond to coronavirus

As if tax season isn’t already stressful enough, the coronavirus pandemic is making things that much harder. Original Article Posted at : https://www.accountingtoday.com/opinion/how-accounting-firms-can-effectively-respond-to-coronavirus

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