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As you navigate this new business environment, leaders need the right guidance and direction to move forward. Tap into our customized tax, audit, accounting and business advisory solutions to help you recover from disruption and grow stronger. Contact a PBMares advisor today.
RECENT INSIGHTS:
Coronavirus: Financial Reporting Considerations
Source: RSM US LLP. The effects of the coronavirus are evolving rapidly and are unique for each entity’s circumstances. In addition to addressing the serious operational impacts of the coronavirus, it is important that all entities consider how the coronavirus affects their financial reporting.
3 Steps to Reduce Risk of Coronavirus Phishing Scams
Source: RSM US LLP. With the coronavirus pandemic consuming attention and companies focusing on implementing safety, readiness and response measures, a surge in potentially harmful phishing scams has emerged.
State Tax Authorities Issue Special Coronavirus Provisions
Several state tax authorities have announced various relief provisions for businesses and individuals impacted by the Coronavirus. In many cases, the provisions are an emphasis of relief provisions already available such as extensions to file
Deferral of Tax Payments
On March 17, 2020, Secretary of Treasury Steve Mnuchin announced the IRS will allow taxpayers to delay federal tax payments for 90 days after their due dates. This delay is both interest and penalty-free. For individuals, they can defer up to $1,000,000 of taxes owed
New FASB Proposal Aims to Increase Financial Reporting Requirements for Not-for-Profits
Many not-for-profit organizations rely on donations. Tapping into the generosity of their stakeholders has always been an operational necessity. And in recent years, the giving environment has become more complex with changing legislation and tax policies.
Proposed Coronavirus Emergency Leave: Impact on Employers
On Friday the House of Representatives passed H.R. 6201, the Families First Coronavirus Response Act. The legislation will be voted on by the Senate this week. This act has bi-partisan support and is expected to pass quickly. Once enacted, this bill has implications for many of our clients.
