With COVID-19 Challenges, Will Regulators Provide Delay for Companies Implementing New Rules?
By Soyoung Ho With unprecedented challenges presented by efforts to contain the COVID-19 pandemic, the SEC in a series of …
Companies Expect FASB, SEC to Straighten out Accounting Uncertainty Sparked by CARES Act
By Denise Lugo The economic stimulus package recently passed by U.S. legislators that allows large banks to suspend applying current …
IRS Division Suspends some Information Document Request Enforcement
In a memorandum, the IRS Large Business and International (LB&I) Division has temporarily suspended, through July 15, 2020, information document …
Democrats’ Disclosure, Governance Priorities Thwarted in Coronavirus Relief Package,
By Bill Flook House Financial Services Committee Chair Maxine Waters on March 27, 2020, called for a fourth COVID-19 relief …
AICPA-Led Coalition Expands Support for Small Business Funding
More than a dozen new members have joined an American Institute of CPAs-led group advocating the use of payroll processors …
IRS Suspends Certain Compliance Programs Due to COVID-19
In an Information Release, the IRS has announced that beginning April 1, it will provide relief to taxpayers that ranges …
House COVID-19 Package Would Expand Disclosures
By Bill Flook The legislative stimulus package rolled out on March 23, 2020, by the House Financial Services Committee in …
Tax Relief Offered by States and Localities in Response to COVID-19
Tax relief provided by state and local tax and revenue departments in response to the novel coronavirus (COVID-19) is discussed …
IRS Issues Official Guidance on Filing and Payment Deadline Postponements
In Notice 2020-18, IRS has made official the earlier announcement by Treasury Secretary Mnuchin that the filing and payment deadline …
FASB Assessing Impact of Accounting Rules Amid Looming COVID-19 Credit Crunch
By Soyoung Ho The FASB is assessing the impact of certain accounting rules in light of the coronavirus pandemic, which …