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Lesson From The Tax Court: One Plus One Equals One

(TaxProf Blog) - When the IRS seeks to collect an unpaid tax liability, it chiefly relies on three big collection tools: liens, levies, and offsets. The CDP procedures are triggered by the IRS use of the first two tools. But those triggers may well happen at different times.


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5 Steps for Advising Clients During COVID-19 Crisis 
(JofA) - Firms can follow a strategic approach to navigate truly advisory, and sometimes difficult, conversations.


How Business Owners Are Working to Maintain Sales and Avoid Layoffs  
(Inc.) - Stress tests, cash reserves, and strategic budget-cutting can help you better predict and absorb the financial impact on your business.


Rent Payments Fall as Layoffs Ripple Through Real Estate 
(Crains) - Just 69% of U.S. apartment renters made payments through April 5. That compares with 81% who paid their rent by March 5, a new tracking tool published by the National Multifamily Housing Council shows.


FASB Proposes to Delay Accounting Standards in Response to Coronavirus 
(Accounting Today) - The Financial Accounting Standards Board plans to propose that private companies and not-for-profit organizations get an extra year to implement the lease accounting standard while they deal with the coronavirus crisis, while also giving private franchisor companies an extra year to get ready for the revenue recognition standard.


Accountants most costly weakness

Accountants are adept at analyzing facts and turning them into insights for their clients. But that strength can keep them their comfort zone. Learn how to break this tendency in your accounting practice so you can thrive. Read our free article.


Offer Client Accounting Services in 90 days

To offer Client Accounting Services (CAS), you don’t need to be a big firm - and you don't need new clients. Learn how to leverage your existing skills and clients to start a profitable CAS practice. Read our post.



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