Accounting
SBA releases streamlined PPP forgiveness forms
The U.S. Small Business Administration released a one-page form aimed at simplifying the process of applying for forgiveness of Paycheck Protection Program loans, along with newly revised and updated forms to meet the requirements of the latest stimulus legislation. Original Article Posted at : https://www.accountingtoday.com/news/sba-releases-streamlined-ppp-forgiveness-forms
Read MorePeople & firms on the move: Grassi appoints CMO
Prager Metis names co-MP; Mauldin & Jenkins adds HR advisory services practice; and more CPA news. Original Article Posted at : https://www.accountingtoday.com/list/people-firms-on-the-move-grassi-appoints-cmo
Read MoreIRS isn’t verifying millions in QBI deductions
The Internal Revenue Service hasn’t been properly vetting millions of dollars in deductions claimed for the qualified business income tax break that could be erroneous, according to an inspector general’s report. Original Article Posted at : https://www.accountingtoday.com/news/irs-isnt-verifying-millions-in-qbi-deductions
Read MoreFirms giving back: E. Cohen raises $25K for local hunger initiative
Big Four firm EY’s College MAP mentorship program also saw 400 high school students receive nearly $800,000 in scholarships for 2020. Original Article Posted at : https://www.accountingtoday.com/list/firms-giving-back-e-cohen-raises-25k-for-local-hunger-initiative
Read MoreUsing Carbon Tax Revenue to Grow the Economy
The Biden administration has made climate change one of the core challenges it plans to address over the next four years. One climate policy lawmakers have debated—and will likely continue to do—is a carbon tax. At the same time, the new Administration will have to tackle the severe, and likely continuing, economic fallout of the…
Read More5 ways to make disclosures more effective for investors in 2021
Some leading organizations are taking the SEC’s cue and tightening up their filings to provide stakeholder with better clarity, focus and insight. Original Article Posted at : https://www.accountingtoday.com/list/5-ways-to-make-disclosures-more-effective-for-investors-in-2021
Read MoreBiden’s student loan freeze shows path to erase billions of debt
Thanks to vagaries of the accounting world, Donald Trump’s administration had a chance in the final weeks of the presidential race to cancel more than $200 billion of student loans with no immediate hit to the Department of Education’s massive portfolio. Yet it didn’t do it. Now, perhaps Joe Biden will. Original Article Posted at…
Read MoreYellen leaves door open to tax increase on wealthy Americans
Treasury Secretary-designate Janet Yellen said she would work with lawmakers to fast-track a series of tax increases on corporations and wealthy Americans as the Biden administration tries to pass spending on infrastructure and expanding the social safety net. Original Article Posted at : https://www.accountingtoday.com/articles/yellen-leaves-door-open-to-tax-increase-on-wealthy-americans
Read More5 Observations on Janet Yellen’s Recent Confirmation Testimony
In her recent confirmation hearing, economist Janet Yellen, President Biden’s choice for Treasury Secretary, sought to reassure markets that the new administration would not raise corporate taxes until the economy improves. At the same time, however, she sent a troubling signal that when they do push for higher corporate tax rates, they would do so…
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