Accounting Newswatch
PCAOB Spotlights Audits Involving Cryptoassets
30 May 2020 20:16:00 UT
In a Spotlight article released this week, the Public Company Accounting Oversight Board highlighted considerations for auditors and audit committees of companies transacting in or holding...
IRS second stimulus: How much you could get, when it might come, and why are some still waiting for their first?
30 May 2020 18:39:00 UT
As states reopen across the U.S. while the coronavirus pandemic continues, many Americans are wondering if a second stimulus payment from the IRS will hit their bank account or mailbox anytime soon....
IRS mails stimulus money on debit cards
30 May 2020 18:30:03 UT
NEW YORK — More than 140 million Americans have received federal stimulus money either through check or direct deposit. Now some people are getting it in the form of a debit card and it’s...
Revenue Recognition And Leases: FASB Gives Certain Entities More Time
30 May 2020 17:49:02 UT
Private companies and most nonprofits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the novel...
IRS tax filing and payment extended deadline; Advance Media Information; Future News Item; Internal Revenue Service
30 May 2020 11:12:36 UT
Organisation: Internal Revenue Service Description: IRS tax filing and payment extended deadline * The U.S. Govt announced in March that individuals and businesses will be allowed to defer tax...
May 28, 2020: Kirkland & Ellis: IRS Updates Start of Construction Rules for Renewables Projects to Address COVID-19
30 May 2020 08:53:00 UT
The IRS released new guidance on May 27, 2020, that extends the deadline by which 2016 and 2017 vintage renewable energy projects must be placed in service to maintain tax credit eligibility (and...
IRS Provides Relief for Renewable Energy Developers Encountering Construction Delays
30 May 2020 05:49:26 UT
The Internal Revenue Service (IRS) recently released Notice 2020-41 (the Notice), providing important relief with respect to the beginning-of-construction requirement for the production tax credit...
New York Appellate Court Finds Bankruptcy Trustee Not Bound by Arbitration Clause in Bankrupt Company’s Engagement Agreement With Accounting Firm
30 May 2020 03:29:40 UT
A New York appellate court has held that a company’s bankruptcy trustee was not bound by an arbitration agreement entered into by the company and an accounting firm. In this action, Millennium Lab...
AICPA Submits Recommendations on Modernizing Tax Provisions in Response to COVID-19 Pandemic
30 May 2020 02:51:39 UT
) — The coronavirus pandemic has created economic and technological changes for our nation and has spotlighted federal tax barriers the U.S. tax system creates when small businesses encounter a...
Borrower’s Accounting for Paycheck Protection Program Loans
30 May 2020 00:54:41 UT
Download PDF Verison Background On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides relief to taxpayers affected by...

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