Income Tax
Latest News
60% of CFOs Say Their Organizations are Ready to Implement and Work With AI, but Only 35% are Using AI in Finance
A Scalable Talent Model Can Be Much More Than a Safety Net for CPA Firms in Need of Skilled Talent
Labor Challenges Persist Among Mostly Confident Business Owners, According to CBIZ Index
How PTO Policies Can Attract Top Talent
![taxes reform_1_.5540d268d98f6](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/taxes_reform_1_.5540d268d98f6.5ea5ce61534c3.png)
21 Million Taxpayers Delayed Filing Past April 15
As of April 17, 2020, the IRS reported that 115,961,000 individuals had filed their 2019 tax returns, compared to 137,233,000 returns filed for 2018 by April 19, 2019. That is 21,272,000 less— a drop-off of 15.5%.
![tax-refund1_10916239](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/tax_refund1_10916239.5ea38392b3784.png)
SSI, VA Benefit Recipients and RR Retirees Must Act by May 5 to Add Dependents
Supplemental Security Income and Department of Veterans Affairs beneficiaries need to act by May 5 if they didn’t file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment.
![congress](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/congress.5ea21b453ad49-768x576.png)
PPP Refilled with $320 Billion as New $484 Billion Coronavirus Relief Bill Signed into Law
The final bill includes $320 billion to make new loans under the Paycheck Protection Program, which provides forgivable loans to small business that keep employees on the payroll for eight weeks. The measure includes $60 billion in EIDL.
![AICPA_new 2019_1_.5b1fd9ff31925](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/AICPA_new_2019_1_.5b1fd9ff31925.5ea1f2b84b085.png)
AICPA Releases Recommendations for Administrative, Filing and Payment Relief for State and Local Taxes During Coronavirus Pandemic
As the country works to navigate changes in federal and state tax filing and payment deadlines as a result of the global coronavirus pandemic, the American Institute of CPAs (AICPA) is providing recommendations for administrative, filing and payment ...
![PPP Paycheck Protection Program](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/PPP_Paycheck_Protection_Program.5ea1dfce8378f-768x392.png)
AICPA Wants Accounting Firms Recognized in Coronavirus PPP Application Process
The AICPA, after discussions with its coalition partners, and key banking leaders and stakeholders, is working to drive a common understanding and approach around the firm – lender relationship related to the implementation of the PPP.
![Small business coronavirus](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/Small_business_coronavirus.5ea083935a55a.png)
Survey: 58% of Small Businesses Opposed to Reopening on May 1
In addition, 68% of survey respondents reported applying for a Paycheck Protection Program loan before funding for the $350 billion program to help small businesses weather the COVID-19 crisis ran dry last week.
![congress](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/congress.5e9f6cbbd4589-768x576.png)
Senate Passes Additional $484 Billion Stimulus Package
The Senate passed $484 billion in new pandemic relief funds Tuesday to bolster a tapped-out small business aid program, pay for coronavirus testing and help hospitals deluged by sick patients.
![audit](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/04/audit.5e9e2811bffd7.png)
AICPA Auditing Standards Board Agrees to Defer SASs 134-140 Dates for One Year
The effective dates of the SASs were for audits of private company financial statements for periods ending on or after December 15, 2020. The deferral means that effective dates now apply for periods ending on or after December 15, 2021.