November 19, 2021
The U.S. Small Business Administration recently released updated guidance regarding applications for loans, advances and appeal requests with the COVID-19 Economic Injury Disaster Loans program.
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November 11, 2021
The IRS recently announced the tax year 2022 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes.
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September 22, 2021
The IRS recently published final regulations regarding the calculation of qualified business asset investment for qualified improvement property under the alternative depreciation system under Sections 250 and 951.
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September 21, 2021
The U.S. has seen historic levels of federal funding in response to the COVID-19 pandemic. Various laws, including the CARES Act and the American Rescue Plan Act of 2021, have provided billions of dollars to American businesses, state and local governments, and not-for-profits. While this funding has provided relief, especially for nonprofits, it may cause complications for many recipients.
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September 14, 2021
The U.S. Department of Labor Employee Benefit Security Administration Office of the Chief Accountant recently announced it is planning to conduct a study of employee benefit plan audit quality based on 2020 filings of Form 5500, including calendar year 2020 filings filed on extension by Oct. 15, 2021.
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September 10, 2021
The U.S. Small Business Administration recently announced modifications to the COVID-19 Economic Injury Disaster Loans program to make it easier for small businesses affected by the pandemic to access the more than $150 billion in funding available for loans.
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August 30, 2021
The U.S. Small Business Administration recently announced it will begin sending invitations for supplemental Shuttered Venue Operator Grant program awards.
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August 17, 2021
The Office of Management and Budget recently released the 2021 Compliance Supplement providing updated guidance for single audits of fiscal years beginning after June 30, 2020.
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August 12, 2021
The IRS recently issued Rev. Proc. 2021-34, which updates the list of accounting method changes to which automatic change procedures apply.
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August 5, 2021
In response to the devastating effect of the global pandemic on the U.S. economy, Congress passed several laws (the CARES Act, CAA and ARPA) that contained trillions of dollars to stimulate the economy. The funding was received by many state and local governments as well as nonprofit entities. Many of these entities have not previously received this level of funding.
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