PPP Loan Forgiveness Updates
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). […]
Category: Articles
Should your nonprofit accept that new grant?
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
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
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
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 […]
Financial reporting for nonprofits that have teamed up
Not-for-profits sometimes team up with other entities to boost efficiency, save money and better serve both organizations’ constituencies. This can be a smart move — as long as your accounting […]
Where’s my tax refund?
With the July 15 tax deadline now past, the Internal Revenue Service reminds all taxpayers that there is no secret way to find out when your tax refund will be […]
How fraud perpetrators are stealing unemployment benefits
When Congress authorized an additional $600 in monthly unemployment benefits as part of the CARES Act, out-of-work Americans weren’t the only ones it helped. Criminals have descended like locusts on […]
Why do partners sometimes report more income on tax returns than they receive in cash?
If you’re a partner in a business, you may have come across a situation that gave you pause. In a given year, you may be taxed on more partnership income […]
How taxpayers can troubleshoot common after-tax-day issues
While the deadline to file and pay federal income taxes has passed for most people, there are some taxpayers still facing tax-related issues. Here are some tips for taxpayers handling […]
