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Although the American Rescue Plan allows an exclusion of up to $10,200 of unemployment compensation for 2020 federal income tax returns, current Wisconsin law does not.

Taxpayers of all ages may claim a deduction on their 2020 tax return for contributions to their IRAs made through April 15, the IRS recently noted.

The U.S. House of Representatives on March 16 passed a bill to move the PPP application deadline from March 31 to May 31, sending the legislation to the Senate for consideration.

Accounting firm managers can take several steps to engage and motivate staff members during tax season.

Taxpayers urgently need guidance on PPP loan forgiveness issues, the AICPA told the IRS in a letter on March 15.

The SBA recently announced extended deferment periods for all its disaster loans, including the COVID-19 EIDL loans.

New guidance from the IRS explains how to accurately compute the new exclusion on a portion of employment income under President Biden’s American Rescue Plan Act.

College and university accounting departments should update their curricula to meet the demands of practice, a recent AICPA-NASBA gap analysis survey found.

The SBA expects to begin accepting applications in early April for the Shuttered Venue Operators Grant (SVOG) program.

As different forms of crypto tokenization enter the marketplace and intersect with real-world physical assets, getting the accounting and reporting correct will only become more important.