IRS proposes new rules for retirement and annuity payments

The Internal Revenue Service and the Treasury Department issued proposed regulations Wednesday to update the income tax withholding rules for periodic retirement and annuity payments made after Dec. 31, 2020.

IRS proposes new rules for retirement and annuity payments


IIRC proposes revisions to reporting framework and names new chair

The council has opened a 90-day consultation period on proposed revisions to its International Integrated Reporting Framework, and named Conor Kehoe as its new chair.

IIRC proposes revisions to reporting framework and names new chair


Xero fast-tracks new cash flow features to help COVID-affected businesses

The software company has also debuted a new monthly revenue feature for accountants.

Xero fast-tracks new cash flow features to help COVID-affected businesses


FASB names new technical director and EITF chair

The Financial Accounting Standards Board has appointed Hillary H. Salo, a partner at KPMG, as its new technical director and chair of the Emerging Issues Task Force.

FASB names new technical director and EITF chair


R&D tax credits and the coronavirus

Research credits could look very different for some companies in 2020 compared to other years.

R&D tax credits and the coronavirus


The focus shifts to PPP forgiveness

The release of the SBA’s loan forgiveness application highlights the questions that remain around the Paycheck Protection Program.

The focus shifts to PPP forgiveness


In the blogs: It’s a date

Waiting for refunds; EIP debit cards; using state-level OICs; and other highlights from our favorite tax bloggers.

In the blogs: It’s a date


PCAOB eyes audits involving cryptocurrency

The Public Company Accounting Oversight Board released a document Tuesday with information for auditors and audit committees about audits involving cryptoassets, such as Bitcoin and other digital currencies.

PCAOB eyes audits involving cryptocurrency


NASBA proposes changes in CPA requirements

The National Association of State Boards of Accountancy has proposed a set of revisions to the Uniform Accountancy Act Model Rules for CPAs.

NASBA proposes changes in CPA requirements


Treasury, SBA post rules for PPP loan forgiveness

The Treasury Department and the Small Business Administration released an interim final rule after posting the loan forgiveness application.

Treasury, SBA post rules for PPP loan forgiveness