Provider Relief Fund Updates If you’re confused by all of the emails you’re getting from HHS regarding the Provider Relief Funds, you’re not alone! Since the CARES Act was signed into law in late […]
CARES Act made changes to excess business losses By: Kate Protsenko-Blake CPA As a follow up to an article we posted earlier in the spring, the CARES Act made changes to excess business losses. This includes some changes that are retroactive and […]
Unmasking fraud during an economic downturn By: Anthony LaNasa Fraud tends to flourish during periods of prosperity. The reason is simple: When companies experience fast-growing revenues and rising net profits, they may lack a strong incentive to divert resources […]
IRS takes steps to ensure people with qualifying children receive $500 Economic Impact Payments By: David M. Reape The IRS announced it will reopen the registration period for federal beneficiaries who didn’t receive $500 per child Economic Impact Payments earlier this year. The IRS urges certain federal benefit […]
Executive Order to Defer Employee’s Portion of Social Security Taxes By: David M. Reape On August 8, President Trump signed four executive actions, including a Presidential Memorandum to defer the employee’s portion of Social Security taxes for some people. These actions were taken in an […]
PPP Loan Forgiveness Updates By: Anthony LaNasa The U.S. Small Business Administration (SBA) and the US Treasury answered additional questions this week, related to forgiveness of Paycheck Protection Program (PPP) loans and Economic Injury Disaster Loans (EIDL). […]
Should your nonprofit accept that new grant? By: Helen Weeber Current financial pressures mean that your not-for-profit probably can’t afford to pass up offers of support. Yet you need to be careful about blindly accepting grants. Smaller nonprofits that don’t […]
Journal entries may signal financial statement fraud By: Anthony LaNasa With a median loss of $954,000, financial statement fraud is the costliest type of white-collar crime, according to the Association of Certified Fraud Examiners. Fortunately, auditors and forensic accountants may […]
The possible tax consequences of a PPP loan If your business was fortunate enough to get a Paycheck Protection Program (PPP) loan taken out in connection with the COVID-19 crisis, you should be aware of the potential tax […]
5 ways to protect your investment accounts from fraud By: Anthony LaNasa Because the average investment account boasts a much larger balance that a typical checking or savings account, cybercriminals are particularly interested in hacking them. Financial institutions are largely responsible for […]
File cash transaction reports for your business – on paper or electronically By: David M. Reape Does your business receive large amounts of cash or cash equivalents? You may be required to submit forms to the IRS to report these transactions. Filing requirements Each person engaged […]
HHS Extends Application Deadline for Medicaid Providers and Plans to Reopen Portal to Certain Medicare Providers On July 31, 2020, the Department of Health and Human Services (HHS) announced an extension of the application deadline for Phase 2 general distribution to Medicaid, Children’s Health Insurance Program […]