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  • April 1, 2021

    Today, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they are disbursing several million more payments in the third batch of Economic Impact Payments from the American Rescue Plan. This brings the total disbursed so far to more than 130 million payments worth approximately $335 billion.

  • March 31, 2021

    Identification or suspicion of a client's or employer's noncompliance with laws or regulations (NOCLAR) is one of the most challenging ethical issues a CPA can face, and complementary proposals issued by two AICPA committees are designed to provide clarity for these circumstances.

  • March 30, 2021

    The Internal Revenue Service today warned of an ongoing IRS-impersonation scam that appears to primarily target educational institutions, including students and staff who have ".edu" email addresses.

  • March 30, 2021

    Working and living under COVID-19 restrictions, many employees have deferred vacation and sick days until restrictions are likely to be lifted, resulting in perhaps the greatest buildup of liabilities for compensated absences that we have ever seen.

  • March 30, 2021

    Where's My Refund provides a personalized date after the return is processed and a refund is approved. While most tax refunds are issued within 21 days, some may take longer if the return requires additional review.

  • March 29, 2021

    The PCAOB approved the formation of a new advisory group Monday that will provide the board with insight for its standard-setting activities.

  • March 29, 2021

    The U.S. Small Business Administration is increasing the maximum amount small businesses and non-profit organizations can borrow through its COVID-19 Economic Injury Disaster Loan (EIDL) program. Starting the week of April 6, 2021, the SBA is raising the loan limit for the COVID-19 EIDL program from 6-months of economic injury with a maximum loan amount of $150,000 to up to 24-months of economic injury with a maximum loan amount of $500,000.

  • March 29, 2021

    The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action is needed by most eligible people to receive a third Economic Impact Payment automatically.

  • March 29, 2021

    On Monday, the IRS issued guidance with details on its postponement of the April 15 tax deadline for individuals (Notice 2021-21). The IRS had announced in a news release on March 17 that it was delaying the April 15 deadline for individuals until May 17, 2021. Monday’s notice clarifies and adds details about the postponement. Like the news release before it, the notice does not extend the April 15 due date for estimated tax payments.

  • March 29, 2021

    The Internal Revenue Service today announced that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15, such as making IRA contributions and filing certain claims for refund.