The IRS recently published Notice 2020-43, which proposes two new methods for reporting partner capital accounts on partnership returns (Form 1065 or Form 8865) and requests comments on the proposed methods.
Learn moreOn Wednesday June 3, 2020 the Senate passed H.R. 7010 which modifies “certain provisions related to the forgiveness of loans under the paycheck protection program” (PPP Loans).
Learn moreThe FASB has issued ASU 2020-05, Revenue from Contracts with Customers (Topic 606) and Leases (Topic 842): Effective Dates for Certain Entities, which allows for the postponement of effective dates of ASU 2014-09, Revenues from Contracts with Customers (Topic 606) and ASU 2016-02, Leases (Topic 842) for certain entities in an effort to provide much needed relief as a result of the COVID-19 global pandemic.
Learn moreOn Friday, May 22, 2020, the Small Business Administration (SBA) released two Interim Final Rules related to the Paycheck Protection Program Loan (PPP Loans) forgiveness. One focused on Borrowers and the other focused on lenders. This article will provide an overview of each rule.
Learn moreAs stated in our business interruption piece on March 24, 2020, the global impacts of the COVID-19 pandemic have caused economic losses to businesses and individuals throughout the world, resulting in litigation and regulatory activity within state governments and the federal government.
Learn moreIt should be no surprise that many businesses are being negatively impacted by COVID-19, which can naturally lead to cash flow issues as income stalls.
Learn moreThe FASB is proposing the postponement of effective dates of ASU 2016-02, Leases (Topic 842) and ASU 2014-09, Revenues from Contracts with Customers (Topic 606) for certain entities in an effort to provide much needed relief as a result of the COVID-19 global pandemic.
Learn moreOn Wednesday May 13, 2020 the Small Business Administration (SBA) released two updates to their Paycheck Protection Program (PPP Loan) Frequently Asked Questions (FAQ).
Learn moreWhen the Small Business Administration’s (the SBA) Paycheck Protection Program (PPP) launched as part of the CARES Act, many organizations rushed to submit their applications to qualify for these loans and hopefully future loan forgiveness.
Learn moreWhen the Small Business Administration's (SBA) Payroll Protection Program (PPP) launched as part of the CARES Act, many not-for-profit organizations, along with other entities, rushed to submit their applications to qualify for these loans and hopefully future loan forgiveness. The sense of scarcity and urgency was high as entities were applying at the same time the SBA was working to finalize the program specifics.
Learn moreOn May 8, 2020, the Government Accounting Standards Board (GASB) issued Statement No. 95, Postponement of the Effective Dates of Certain Authoritative Guidance.
Learn moreThe COVID-19 pandemic has forced many organizations to rapidly adopt cloud solutions for email, office applications, collaboration and conferencing.
Learn moreWith the gradual reopening of gaming and hospitality facilities, RubinBrown’s business and consulting experts have outlined some of the reopening themes and suggested procedures being discussed and shared among clients and throughout industry.
Learn moreThere are certainly more questions than answers related to the CARES Act funding being issued as of late.
Learn moreIn response to the COVID-19 pandemic, the US Department of Health and Human Services (HHS) allocated $100 billion dollars to healthcare providers as part of the Coronavirus Aid, Relief, and Economic Security Act (CARES).
Learn moreThe IRS recently published additional FAQs on the refundable Employee Retention Credit (ERC), as well as draft Form 941 for 2020.
Learn moreBlack swan events rarely occur, defy predictability, and usually trigger extreme consequences.
Learn moreThe Paycheck Protection Program and Health Care Enhancement Act (the Act), recently passed and signed into law, a second round of Paycheck Protection Program (PPP Loan) funding of $310 billion.
Learn moreThe Trump administration eliminated a rule that had previously denied small casinos from accessing funds allocated for small businesses as part of the Paycheck Protection Program (PPP).
Learn moreMuch emphasis has been placed on the Economic Injury Disaster Loan (EIDL) and Paycheck Protection Program (PPP) Loan programs available under the CARES Act to date.
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