Professional Accounting Blog

    Accounting For Your Prosperity

    IRS Extends Tax Filing Deadline to July 15 as Coronavirus Spreads

    Posted by Jonathan Ciccotelli on Mar 20, 2020 11:32:11 AM

    Topics: Tax Planning & Strategies, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    The IRS is moving its national income tax filing day ahead to July 15 as part of a growing effort to stem the financial pain from the coronavirus pandemic, Treasury Secretary Steven Mnuchin announced today.

    Read More

    The IRS extends the federal income tax payment deadline

    Posted by Jonathan Ciccotelli on Mar 19, 2020 4:30:15 PM

    Topics: Tax Planning & Strategies, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    After U.S. Treasury Secretary Steven Mnuchin’s announcement that the deadline for paying federal income taxes would be extended, the IRS released guidance on March 18 outlining the details. IRS Notice 2020-17 follows up on President Trump’s Emergency Declaration that, among other things, instructed Mnuchin to provide relief from tax deadlines for taxpayers adversely affected by the coronavirus (COVID-19) pandemic.

    Read More

    SBA Disaster Relief Financing Assistance

    Posted by Lloyd Bell on Mar 19, 2020 11:17:15 AM

    Topics: Tax Planning & Strategies, Small Business, Accounting & Auditing, Corporate Finance, COVID-19

    The United States Small Business Administration (SBA) has extended disaster relief loans to include businesses that have been negatively impacted by COVID-19. These low-cost loans are intended to provide working capital relief to companies and small non-profit organizations to alleviate economic injury caused by the pandemic.  Note that Economic Injury Disaster Loan assistance is available only to small businesses when SBA determines they are unable to obtain credit elsewhere.

    Read More

    Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak

    Posted by Jonathan Ciccotelli on Mar 18, 2020 7:41:48 PM

    Topics: Tax Planning & Strategies, COVID-19

    Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service (IRS) today issued guidance (Notice 2020-17) allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest. 

    Read More

    Meaden & Moore Continuity Plan - COVID-19

    Posted by Jim Carulas on Mar 17, 2020 9:57:51 PM

    Topics: COVID-19

    The situation around the Coronavirus outbreak is evolving and changing daily, even hour by hour.  We want to assure you that Meaden & Moore is actively monitoring these events and modifying our service platform in order to provide you with the professional services you expect while protecting the health and well-being of our team members and their families.

    Read More

    COVID-19 State and Local Taxpayer Guidance

    Posted by Jonathan Ciccotelli on Mar 17, 2020 4:42:22 PM

    Topics: Tax Planning & Strategies, COVID-19

    As you are all aware, COVID-19 is drastically impacting how business is being conducted throughout the United States of America and the entire World.  In addition to the guidance issued by the Internal Revenue Service (IRS) regarding penalty and interest waivers, many states have or are in the process of issuing their own guidance.

    Read More

    You should still file your taxes by April 15 if you anticipate a refund

    Posted by Jonathan Ciccotelli on Mar 17, 2020 3:23:05 PM

    Topics: Tax Planning & Strategies, COVID-19

    At a press conference held today, U.S. Treasury Secretary Steven Mnuchin announced the following while at the White House:

    Read More

    House passes bill to provide coronavirus relief; Senate expected to act this week

    Posted by Jonathan Ciccotelli on Mar 17, 2020 9:54:37 AM

    Topics: Tax Planning & Strategies, Accounting & Auditing, COVID-19

    Several arms of the federal government have taken, or are weighing, significant steps to help the country deal with the spread of the coronavirus (COVID-19) and the implications for individuals and businesses.

    Read More

    SBA Guidance for Coronavirus Economic Impact

    Posted by Dan Prendergast on Mar 16, 2020 4:05:47 PM

    Topics: Tax Planning & Strategies, Small Business, Accounting & Auditing, Accounting and Tax Resource, COVID-19

    Economic Injury Disaster Loan Program

    The Small Business Administration (SBA) announced this week the availability of an Economic Injury Disaster Loan program.  The SBA has announced that they are working directly with state governors to provide targeted, low interest loans to small business and non-profits that have been severely impacted by the Coronavirus (COVID-19). The loan program will provide working capital loans of up to $2 million that can provide vital economic support to help overcome the temporary loss of revenue that businesses are currently experiencing.

    Read More

    Critical Time Element Impacts on Both Coronavirus Claims and Non-Virus Claims

    Posted by Patrick Kelleher, CPA, CFF on Mar 4, 2020 4:59:24 PM

    Topics: Investigative and Forensic Accounting, COVID-19

    As the world enters its third full month of dealing with the latest coronavirus, markets contemplate the financial impact, as well as other implications.  The interdependency of the world economy has created a uniquely wide and deep potential impact related to the virus as CEO’s contemplate the employee, supply chain and customer consequences.  The depth of the effect of the virus began in the US as a potential disruption to the supply chain, but it is now threatening both supply and demand as it spreads across the world. 

    Read More

    Subscribe to Email Updates

    New Call-to-action
    New Call-to-action
    New Call-to-action
    New Call-to-action