In a letter to the Treasury Department and the Internal Revenue Service, the AICPA has requested that filing and payment relief related to the coronavirus pandemic be expanded because the relief does not cover all tax filings and payments affected by the pandemic.
The Coronavirus Aid, Relief and Economic Security Act, a stimulus bill passed by the Senate, would delay the date by which financial institutions are required to comply with the Financial Accounting Standards Board's accounting standard for credit losses.
The Governmental Accounting Standards Board is considering postponing all statement and implementation guide provisions with an effective date on or after reporting periods beginning after June 15, 2018, as a result of the coronavirus pandemic.
The Internal Revenue Service has announced that, under its People First Initiative, it is altering activities beyond the tax filing and payment delay announced last week in response to the coronavirus pandemic. Among changes are suspension of payments due on installment agreements between April 1 and July 15, although interest continues to accrue.
Amid the uncertainty of the coronavirus pandemic, the finance function can create value and elevate its role as a strategic business partner. Follow these five steps to ensure an effective business continuity plan.
There are steps everyone can take to mitigate the spread of the coronavirus, starting with washing hands regularly. Here is a comprehensive guide to avoiding infection, gathering supplies and handling the situation properly if you get sick.
IIA President and CEO Richard Chambers says internal auditors must turn their attention to demonstrating how internal audit can help organizations navigate the looming economic downturn. "When pressure on the bottom line (and potentially even the survivability of the organization) becomes a primary risk, we need to roll up our sleeves and get to work," Chambers writes.
The Senate has voted 96-0 to pass a $2.2 trillion stimulus package to aid industries, small businesses and workers affected by the coronavirus pandemic. The House is scheduled to act on the bill Friday.
Employees who are sickened by the coronavirus or who have family members affected by the virus might qualify for paid sick leave under the Families First Coronavirus Response Act. Here is a look at the specific rules and exceptions.
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