Company preparing to accept applications for billions of dollars in requested PPP relief next week 1 in 12 American employees is paid through QuickBooks Payroll MOUNTAIN VIEW, Calif.–(BUSINESS WIRE)– Today, Intuit Inc. (Nasdaq: INTU) announced its subsidiary Intuit Financing Inc. (DBA QuickBooks Capital) is now a non-bank SBA-approved lender for the Paycheck Protection Program (PPP), […]
Archives for April 2020
For e-commerce firms, April may be the cruellest month
Illustration: Rahul Awasthi E-commerce firms in India, including leaders Amazon and Flipkart, will take a major hit if sales of non-essential items continue to be restricted and the lockdown is prolonged, industry executives and analysts said. Smartphones, electronics, furniture, large appliances, among others, have been categorised as non-essential items in the current situation, but contribute […]
CPA Exam testing center closings extended through May 1
News PROFESSIONAL DEVELOPMENT By Ken Tysiac {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} The coronavirus pandemic has cut even more into the second-quarter testing window for the CPA Exam as Prometric announced Friday that its testing centers in the United States and Canada will remain closed through at least May 1. Earlier, Prometric had […]
IRS launches tool for nonfilers to receive stimulus payments
The IRS has launched an online portal for taxpayers who are eligible to receive an economic impact payment but who are not normally required to file an income tax return because their income is too low ($12,200 for individuals or $24,400 for married couples filing jointly for 2019). The online portal allows people to enter […]
FASB issues Q&As to clarify pandemic lease accounting issues
FASB posted a staff Q&A document to its website Friday that is designed to clarify pandemic-related questions about lease accounting. As a result of economic disruptions caused by the pandemic, many lessors will provide lease concessions to tenants. The Q&A states that for concessions related to the effects of the coronavirus pandemic, an entity will […]
Critical VMware Bug Opens Up Corporate Treasure to Hackers
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Supply of essentials gets caught up as lockdown tightens
Consumers are finding it difficult to buy food, groceries and other essential goods at retail stores and through e-commerce platforms after several states intensified efforts to lock down the so-called Red Zones with a higher density of Covid-19 positive cases. According to a survey by community platform LocalCircles, the percentage of consumers who were able […]
Guidance on NOL carryback and tentative carryback adjustments
The IRS provided guidance on how taxpayers who want to elect to waive or reduce the new provision requiring taxpayers with net operating losses (NOLs) arising in tax years beginning in 2018, 2019, and 2020 to carry them back five years (Rev. Proc. 2020-24). The IRS also extended the deadline for filing an application for […]
The IRS has a new website where you can get your stimulus relief check if you’re not required to pay taxes
US Treasury Secretary Steven Mnuchin arrives to testify during a House Ways and Means Committee hearing about the Fiscal Year 2021 budget request on Capitol Hill in Washington, DC, March 3, 2020. Saul Loeb | AFP | Getty Images The IRS and the U.S. Treasury on Friday launched a new IRS website where people who aren’t required […]
Moroccan companies begin ventilator production
RABAT (Reuters) – Morocco has started manufacturing its own ventilators with oxygen masks, with 500 expected to be ready by mid-April to help meet demand caused by the COVID-19 pandemic, the Industry Ministry said. The North African kingdom has confirmed 1,431 cases of the novel coronavirus, including 105 deaths, and is seeking to raise the […]