The IRS on Friday issued final regulations that coordinate the Sec. 245A extraordinary disposition rule with the Sec. 951A disqualified basis and disqualified payment rules (T.D. 9934). The regulations also contain rules under Sec. 6038 on information reporting. The regulations finalize rules that were proposed in August (REG-124737-19) and about which the IRS received only […]
Archives for November 2020
Book Signing Food Drive Raises $10,000 and Counting for Families in Need!
I am so utterly overwhelmed with gratitude toward all of you who answered the call this past week to help me feed hungry families in the community this holiday season. When I asked for $50 donations to the Harry Chapin Food Bank – LI Cares in exchange for me signing a copy of the new […]
Spotify Users Hit with Rash of Account Takeovers
The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.
AICPA mobilizes members to push for deductibility of PPP-funded expenses
In the wake of the IRS’s latest guidance denying a tax deduction for any otherwise deductible expense if the payment of the expense results in forgiveness of a Paycheck Protection Program (PPP) loan because the income associated with the forgiveness is excluded from gross income under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, […]
Xero and Salesforce are collaborating to help US small businesses thrive and operate efficiently
Over the last few months, we’ve seen how small businesses have struggled, overcome challenges and proven their resilience to continue serving customers. Small businesses are the cornerstone of every community, and thriving in a world impacted by COVID-19 requires agility and strategic thinking. Throughout the pandemic, we’ve seen how small businesses have sought to increase […]
New Home Sales up a cartoonish 48% year-over-year! LOL
This is one of the big things I had right from the start of the pandemic – that the combination of demographics, suburban flight, plunging interest rates and the idiosyncrasies of pandemic-induced lockdowns would produce a housing and remodeling boom. I had some stuff wrong but this was the big thing you had to know […]
Complex accounting expertise or common sense? – New England In-House – New England In-House
As legal counsel to a public registrant, imagine your client asking for your advice on the following questions: Can we help fund the startup of a new distribution customer that will buy more of our products? We really want to set this customer up so that we can charge the customer higher prices than regular […]
Manchester United: IT Systems Disrupted in Cyberattack
The administrator of your personal data will be Threatpost, Inc., 500 Unicorn Park, Woburn, MA 01801. Detailed information on the processing of personal data can be found in the privacy policy. In addition, you will find them in the message confirming the subscription to the newsletter.
Art of Accounting: My 7th anniversary – Accounting Today
This is my 364thweekly column and completes seventh years without missing an issue. Much thanks goes to Michael Cohn, my editor and occasional sounding board for ideas. It has been a great collaboration and friendship. I also could not have done this without readers and the many colleagues that call me with questions and a […]
Trump appeals big loss in Pennsylvania vote case that seeks to block Biden win
The Trump campaign’s appeal of its devastating loss in federal court in Pennsylvania misspells the word “president” and butchers grammar. The appeal filed Monday also does not ask an appeals court to reverse its defeat or temporarily block Pennsylvania counties’ certification of votes, which are due Monday. Instead, the appeal at the U.S. Circuit Court […]