IRS Issues Statement Regarding CAF Processing Times
The IRS Wage & Investment Division recently apologized for processing delays and stated they are currently working to reduce their Centralized Authorization File inventory.
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House Passes $1.9 Trillion COVID Relief Bill, Biden to Sign by Weekend
Today the U.S. House of Representatives passed the $1.9 trillion coronavirus relief bill known as the American Rescue Plan Act. President Joe Biden is expected to sign it before the March 14 deadline to renew unemployment aid programs.
View MoreSmall Business Administration Releases New PPP Rules for Self-Employed Individuals
The U.S. Small Business Administration recently issued new Paycheck Protection Program rules to allow those who file Form 1040, Schedule C to calculate their maximum loan amount using gross income instead of net profit.
View MoreAICPA Urges Congress to Extend PPP Deadline
The AICPA called on Congress to extend the application period for the Paycheck Protection Program by at least 60 days past the current deadline of March 31.
View MoreIRS Provides Guidance for Employers Claiming the Employee Retention Credit for 2020, Including Eligibility Rules for PPP Borrowers
The IRS recently issued Notice 2021-20, providing guidance for employers claiming the employee retention credit under the CARES Act, as modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020, for calendar quarters in 2020.
View MoreIRS Provides Additional Flexibility for Health FSAs and Dependent Care Assistance Programs
The IRS recently released Notice 2021-15, allowing greater flexibility to employee benefit plans offering health flexible spending arrangements or dependent care assistance programs.
View MoreTSCPA Student Ambassador Profile - Amelia Yann
Meet TSCPA Student Ambassador Amelia Yann.
View MoreFinding Personal and Professional Success as an Accounting Student
Achievements in academics can lead to future success as a professional. Your coursework and activities are preparing you to handle a real-world job situation, which can require extra effort and time. Nowadays, that extra time is hard to find for many people.
View MoreSmall Business Administration Announces Changes to PPP Approval Process
The U.S. Small Business Administration (SBA) recently announced changes designed to reduce delays in the loan approval process for the Paycheck Protection Program (PPP), which reopened on Jan. 11 with $284 billion in new funding.
View MoreUPDATE: IRS Updates FAQs on Paid Sick and Family Leave Credits
The IRS recently posted updated FAQs about recent legislation that extended and amended tax relief to certain small- and mid-sized employers under the Families First Coronavirus Response Act.
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