Industry News
Accounting
Top stories summarized by our editors
6/1/2020

Tracey Golden, CPA, CGMA, is the new chair of the AICPA and chair of the Association of International Certified Professional Accountants. Here's a glimpse of how Golden's platform dovetails with both organizations and the profession.

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AICPA Insights
6/1/2020

Leaders might be able to boost productivity in the age of remote work by giving employees more autonomy and by focusing on output, rather than requiring that work be done a certain way.

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Fast Company online
6/1/2020

Technology has helped firms and companies solve some of the challenges associated with the coronavirus pandemic. Some of these solutions will prove useful long after the pandemic ends. Learn more in this podcast.

6/1/2020

A grantor retained annuity trust is an appealing tool for clients to consider as they seek to limit the impact of federal estate and gift taxes. Low interest rates and movements in equity markets could make GRATs particularly effective in the current economic climate. Listen to this AICPA PFP podcast for more planning strategies for wealthy clients in a volatile market.

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Advisor Perspectives
6/1/2020

Remote work during the COVID-19 pandemic has enabled many businesses to carry on under difficult circumstances, but it could also create state tax nexus issues for companies. Employers in this situation should check whether the states where workers are located have issued guidance on the topic.

5/29/2020

The House has passed a bill that would extend the time for businesses to spend money received under the Paycheck Protection Program from eight weeks to 24 weeks. A separate bill under consideration in the Senate would give borrowers 16 weeks to use the money.

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Reuters
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Senate
5/29/2020

The Internal Revenue Service announced that taxpayers will be able to electronically file Forms 1040-X, Amended U.S. Individual Income Tax Return, later this summer.

5/29/2020

The US House passed a bill Thursday that would relax some of the requirements that Paycheck Protection Program fund recipients need to fulfill to qualify for forgiveness from their loans. A similar bill is under consideration in the Senate.

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US House, Senate
5/29/2020

Paycheck Protection Program Round 2 funding worth $10 billion is being set aside for Community Development Financial Institutions, which work with underserved communities.

5/29/2020

Want to take your tax practice to the next level? We have some pointers that'll help transform your dreams into reality. New ways of sharing information, structuring key processes and managing staff are on the list.

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AICPA Insights