The IRS is allowing partnerships subject to the centralized audit provisions in the Bipartisan Budget Act of 2015 (BBA), P.L. 114-74, to file an amended partnership return for 2018 or 2019 to take advantage of beneficial tax provisions in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116- 136. The IRS announced in […]

People wearing masks and gloves wait to checkout at Walmart on April 03, 2020 in Uniondale, New York. Al Bello | Getty Images A quarter of  Americans have either lost their job or seen their wages cut as a result of the coronavirus shutdown, according to the CNBC All-America Economic Survey, which registered the biggest […]

Based on member feedback, the AICPA has identified seven key areas in need of immediate tax relief and has posted 20 FAQs on the latest developments in taxpayer relief during the COVID-19 pandemic. The AICPA has been advocating for more comprehensive relief from Treasury and the IRS and also continues to urge the agencies to […]

Workers assemble a Boeing 787 Dreamliner at the Boeing Everett Factory in Everett, Washington. Patrick T. Fallon | Bloomberg | Getty Images U.S. House Democrats representing Washington state have urged Boeing to accept government aid to help weather the coronavirus pandemic after the plane maker’s chief executive balked at the possibility of government equity stakes in exchange for […]

Medical workers remove a body from a refrigerated truck outside of the Brooklyn Hospital on March 31, 2020 in New York City. Stephanie Keith | Getty Images New York City is preparing to bury dead COVID-19 patients in temporary plots on public land until the city’s morgues and cemeteries can catch up to the rapidly […]

New Yorker’s come together at 7pm each day to give thanks and gratitude to the city’s frontline workers fighting the coronavirus pandemic. Adam Jeffery | CNBC It has been over two weeks now since Gov. Andrew Cuomo ordered all non-essential businesses closed and for New Yorkers to stay indoors in an effort to flatten the […]

Arbonne products Source: Arbonne Multilevel marketing company distributors are asking for cash donations so they can buy their own supplies to give to first responders, doctors and nurses and others on the front lines of the COVID-19 pandemic. But experts warn this is a marketing ploy to improve sales volume and that consumers’ donation money […]

Following the arrival in New York City of the U.S. Naval hospital ship Comfort, NY State Governor Andrew Cuomo is seen during a press conference at the field hospital site at the Javits Center. Albin Lohr-Jones | Pacific Press | Getty Images Gov. Andrew Cuomo said Friday that 2,935 New Yorkers have died from the […]

News Procedure & Administration By Sally P. Schreiber, J.D. {:else} {timeSince} {/if} {@if cond=”{isCGMA}”} {:else} {/if} {/.} Treasury announced Wednesday that Social Security and Railroad Retirement benefit recipients will receive economic stimulus payments automatically without having to file a tax return. On Monday, the IRS had said that only taxpayers who had filed tax returns […]

Former Representative Chris Collins, a Republican from New York, exits a federal court in New York, U.S., on Friday, Jan. 17, 2020. Peter Foley | Bloomberg | Getty Images A federal judge granted a two-month delay for the prison surrender of former GOP Rep. Chris Collins after his lawyers argued he has a high risk […]