The IRS initiated 71% fewer corporate audits this spring compared with the same time period a year ago as the coronavirus pandemic halted many agency operations. The Internal Revenue Service began 718 corporate audits from April 1 to June 1 this year, compared with 2,445 in 2019, according to a National Taxpayer Advocate report released
The logo of Amazon Web Services (AWS) is seen during the 4th annual America Digital Latin American Congress of Business and Technology in Santiago, Chile, September 5, 2018. Ivan Alvarado | Reuters Amazon Web Services, the cloud-computing branch of the e-commerce giant, is further expanding its services in the growing space industry. The company announced
Playing games with coins is one way to teach kids about money Source: Diana David Joseph School may be out for summer, yet you can still find the time to teach your kids about money — and it doesn’t have to be boring. “Some parents think they need to have the ‘money talk,’ but it’s
The Internal Revenue Service won’t further delay the tax filing and payment deadline past July 15, despite requests to do so, the agency said Monday. The IRS had previously extended the April 15 tax for three months to give taxpayers more time amid the coronavirus pandemic. The IRS said taxpayers could request automatic extensions to
As California employers continue to grapple with compliance with employee-related portions of the California Consumer Privacy Act, it is worth keeping an eye on a follow-on law, the California Privacy Rights Act (CPRA), which now has enough signatures to be on California’s November 3, 2020 ballot. Of particular concern to employers should be the fact
National Taxpayer Advocate Erin Collins released her first report to Congress Monday, discussing some of the difficulties confronting taxpayers and the IRS during the COVID-19 pandemic, which has only exacerbated problems with taxpayer service as the IRS struggled to implement the provisions of the CARES Act and the Taxpayer First Act. Collins took over from
People walk by a Wells Fargo bank branch on October 13, 2017 in New York City. Spencer Platt | Getty Images Wells Fargo warned on Monday that it will likely cut its dividend after the Federal Reserve announced it would cap dividends for banks based on earnings. Wall Street analysts pointed to Wells Fargo as
Rep. Bobby Rush, D-Ill. Ralf-Finn Hestoft | Corbis | Getty Image The bill, called the Student Recovery Eligibility for Low-Income Individuals to Exact Funds (RELIEF) Act of 2020, would make students receiving Pell Grants eligible to receive $1,200 stimulus checks. Federal Pell Grants are need-based funds given to low-income students to help them complete their
The Sustainability Accounting Standards Board voted during an online meeting last week to open a new standard-setting project to address single-use plastics and bio-alternatives in the chemicals and pulp and paper industries. Increased public scrutiny of the environmental impacts of plastics use has led to increased regulation and changing customer demands for packaging, creating risks
The National Labor Relations Board continues to clarify and update employers’ obligations in key areas. As discussed below, one recent decision clarifies when employers may enter into arbitration agreements that require employees to keep the proceedings confidential. Another recent decision rescinded a rule issued by the Obama-era NLRB and clarified, for employers who are negotiating
BlackRock’s global chief investment strategist said after the market’s strong gains, he is more cautious on U.S. stocks into the second half of the year because of risks of fading fiscal stimulus and potential election volatility. BlackRock Investment Institute, in its second half outlook, said it retains equities at neutral, or benchmark weight in portfolios.
Getty Images For millions of Americans, federal stimulus of up to $1,200 per person has been the most highly anticipated payment of the year. But not everyone received their money the same way. Americans who were paid first generally got their money via direct deposit, while others received paper checks in the mail. The government
Andrew Oswalt, senior tax analyst at TaxAct, explains why your stimulus money will not impact your 2020 tax outcome when you file next year. Click to watch! [embedded content] Have more questions? Visit our Everything You Need to Know About the Stimulus Payments blog post for additional details regarding your stimulus payment.
It’s common to lament the way days in quarantine all run together, so that those who are stuck at home find it increasingly difficult to differentiate, say, Fridays from Tuesdays, and the passage of time is hard to measure, noticeable only on those rare occasions when you force yourself to recognize that the days are
A worker on a Chesapeake Energy natural gas rig in Fort Worth, Texas Matt Nager | Bloomberg | Getty Images Chesapeake Energy, the poster child of the U.S. shale revolution, filed for bankruptcy protection on Sunday. The move comes as the company and industry more broadly has been rocked by a drop in oil and
PeopleImages | E+ | Getty Images Deciding when to take your Social Security retirement benefits is a crucial decision no matter when you make it. Making that call during the coronavirus pandemic can raise the stakes. That’s because the age at which you decide to claim will lock in the amount of monthly income you
Wirecard AG’s long-time auditors, Ernst & Young, accused their client of “an elaborate and sophisticated fraud” that allowed more than $2 billion to go missing. Now that Wirecard has filed for court protection from creditors, the accountants who signed off on the fintech firm’s books for a decade are rejecting responsibility for their role in
Mastercard credit cards Roberto Machado Noa/ LightRocket via Getty Images How to find compelling stocks primed to outperform during a volatile second half of the year? Here are a few of the names the best-performing Wall Street analysts are betting on right now. As fears of a resurgence in the coronavirus sweep the globe, it could
The reception desk at luxury boutique property Diamond Mills Hotel & Tavern in Saugerties, New York, features sneeze guards. Guests and staff must wear face masks in public areas. Gina Hornbeck/Diamond Mills Hotel & Tavern Like most components of travel in the Covid-19 era, hotel check-in has changed — perhaps, in many ways, for good.
BKD CPAs & Advisors, Springfield, received two Marketing Achievement Awards from the Association for Accounting Marketing. In the social corporate responsibility category, the We AAM to Serve award for promotion of the BKD Foundation, and in Collateral and Content Marketing category for its “2020 Annual Higher Education Outlook: The Race to Financial Sustainability.” In other