AICPA Survey: Business Leaders Support Additional Fiscal Stimulus
A new survey from the American Institute of CPAs today found that 54% of business leaders believe that their businesses...
Tax and Accounting
SEC Finalizes Rule on Fair Value Determinations
The SEC last week voted to adopt a new rule under the Investment Company Act of 1940 addressing the valuation...
SBA: Banks Must File 1099/1098 for CARES Act Loan Subsidies
The Small Business Administration this week released a Q&A document addressing certain tax issues related to payments made on behalf...
State Bankers Associations Call On Congress to Extend Troubled Debt Restructuring Provisions
In a letter to House Financial Services and Senate Banking Committee leaders today, ABA and 51 state bankers associations called...
GOP Lawmakers Push for Extension of Troubled Debt Restructuring Provisions
A group of 35 Republican members of Congress sent a letter to congressional leadership on Friday calling for the extension...
FASB Reviews CECL Implementation
ABA VP Josh Stein offers insights on a recent FASB meeting.
PPP Loan Fees: Accounting and Tax Considerations Loom as Year-end Approaches
There has been considerable analysis and discussion regarding the accounting and tax treatment of PPP fees that are payable to...
FDIC Floats Changes to Deposit Insurance Rules to Accommodate CECL Transition
The FDIC on Friday proposed changes to the risk-based deposit insurance system that applies to banks with more than $10...
IRS Issues Guidance on Deductibility of Qualified PPP Expenses
The IRS yesterday issued a ruling that borrowers expecting Paycheck Protection Program loan forgiveness applications to be approved must disallow...
COVID-19: A Positive Disruptor to Expected Credit Loss Models
The current murky picture delivered by traditional data has forced an increased focus on new methods that better capture credit...
