The American Institute of CPAs has posted a set of frequently asked questions and answers aimed at helping CPAs and their clients with tax filing and tax relief in response to the novel coronavirus pandemic, while pointing out the various shortcomings in the federal government’s response. | AICPA highlights tax filing shortcomings related to coronavirus relief | | By Michael Cohn 3 min read | | The American Institute of CPAs has posted a set of frequently asked questions and answers aimed at helping CPAs and their clients with tax filing and tax relief in response to the novel coronavirus pandemic, while pointing out the various shortcomings in the federal government’s response. | |
| | | Coronavirus: Stay up to date | | Accounting Today has compiled in one place all its coverage of the pandemic, how it's affecting the industry, and what you need to know going forward. | |
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| Cherry Bekaert acquires Tax Advantage Group | | By Michael Cohn 2 min read | | Cherry Bekaert, a Top 25 Firm based in Richmond, Virginia, has acquired Tax Advantage Group, a consulting firm in Greenville, South Carolina that specializes in providing services related to the New Markets Tax Credit to clients across the U.S. | |
| In the blogs: Fretting | | By Jeff Stimpson 2 min read | | The PPP; customer service now; answers and CARES; and other highlights from our favorite tax bloggers. | |
| Most taxpayers lack 1099 forms for reporting crypto transactions | | By Michael Cohn 6 min read | | The Internal Revenue Service is including a question at the top of Schedule 1 of the Form 1040 this year asking taxpayers whether they received, sold, sent, exchanged or acquired a financial interest in virtual currency in 2019, but most taxpayers won’t have any record from a Form 1099 about their cryptocurrency transactions. | |
| Billions in stimulus cash from coronavirus: Who gets it and how to get access | | By Steven T. Dennis, Laura Davison and Mike Dorning 6 min read | | This is normally the time of year when the federal government is collecting taxes due, but the devastating coronavirus now has the U.S. trying to rapidly dole out hundreds of billions of dollars in aid and tax breaks to businesses large and small. | |
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