Bank Deposit Insurance – A term not many people know about but comes into play when the bank you have trusted your money with goes belly-up. In the last few years you might have heard about banks closing down and depositors struggling to get their money back. You must read this post, if you bank […]
IRS turns to data analytics to track crypto tax evasion – Accounting Today
The Internal Revenue Service is focusing on cryptocurrency tax evasion with virtual currencies like Bitcoin and nonfungible tokens, employing data analytics to uncover transactions that crypto users assumed were hidden. The IRS has been training its spotlight on crypto users, adding a question to the front page of the tax form asking taxpayers, “At any […]
SBA may be dropping PPP Loan Necessity Questionnaire requirement
The Associated General Contractors of America (AGC) said that the U.S. Small Business Administration (SBA) is in the process of removing the requirement that Paycheck Protection Program (PPP) borrowers submit a Loan Necessity Questionnaire when applying for forgiveness on loans of $2 million or more. A lender notice from an SBA district office also indicates […]
Shift chooses new chief accounting officer familiar to company leadership – Auto Remarketing
Friday, Jun. 25, 2021, 02:00 PM SAN FRANCISCO – Shift recently created the position of chief accounting officer and filled it with an executive familiar to chief financial officer Oded Shein. The auto ecommerce platform announced on Thursday that Jason Curtis has been appointed as chief accounting officer in a move that was effective on June […]
Considering a Deferred Payment? Here’s What You Should Know
Running a business can be expensive. Rent payments, utilities, taxes, and equipment can all come with a hefty price tag. And if you have employees, you also have to throw in the payroll costs. So to save some money now and pay later, you may consider a deferred payment. But, what is deferred payment, and […]
How to Reprint Challan 280 SBI, ICICI & HDFC bank?
While filing Income tax return you might need to pay additional tax. We have stated in an earlier post about how to pay this Self-Assessment tax using Challan 280. The problem is sometimes people forget to save the Challan 280 receipt and later cannot find the details to fill up in the ITR Form. This […]
Tax consequences of nonfungible tokens (NFTs)
A new enterprise that has captured widespread attention is the production and use of nonfungible tokens, or NFTs. Like individual snowflakes, each NFT is unique; unlike snowflakes, each lasts indefinitely, can be transferred, and might be valued at millions of dollars. They have been employed to digitize an increasing range of intellectual property such as […]
Accountants work on supporting international vaccine and health effort – Accounting Today
The International Federation of Accountants signed an agreement with the Vaccine Alliance (known as Gavi) and the Global Fund to Fight AIDS, Tuberculosis and Malaria to improve accounting practices in the public health sector. IFAC will work with Gavi and the Global Fund to contribute to, and support, the implementation of robust accounting practices in […]
FASB asks for feedback on future standards agenda – Accounting Today
The Financial Accounting Standards Board is looking for suggestions on what its future standard-setting agenda should look like. FASB issued an invitation to comment Thursday asking its constituents to offer feedback on its future agenda. FASB is asking stakeholders to review and provide comments on the document by Sept. 22. The request comes at a […]
FASB asks for feedback on standard-setting agenda
FASB published an Invitation to Comment (ITC) seeking stakeholder feedback on what the board’s future standard-setting priorities should be. The ITC summarizes stakeholder input received during the initial agenda consultation outreach, which generally fell within the following types of projects: Requiring greater disaggregation of financial reporting information to provide investors with better, more useful information […]