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$2.2T Coronavirus Stimulus Package Signed into Law
The House passed a massive $2.2 trillion stimulus bill containing tax relief for both businesses and individuals and other stimulus measures in response to the coronavirus pandemic, and President Trump quickly signed it into law. According to the Washington National Tax Office of Top Six firm Grant Thornton, the business provisions of the act include: Allowing net operating losses arising in 2018, 2019 and 2020 to be carried back five ...
Read MoreFASB Proposes to Delay Accounting Standards in Response to Coronavirus
The Financial Accounting Standards Board plans to propose that private companies and not-for-profit organizations get an extra year to implement the lease accounting standard while they deal with the coronavirus crisis, while also giving private franchisor companies an extra year to get ready for the revenue recognition standard. FASB held a meeting Wednesday with its members and staff attending remotely to discuss the impact of the ...
Read More8 Questions Employers Should Ask About Coronavirus
The coronavirus outbreak that originated in Wuhan, China has spread to at least 65 countries and has sickened more than 89,000 people, with more than 3,000 deaths. Governments have shut borders and imposed quarantines, and companies have imposed travel bans. The human and economic impacts on businesses have been stark. This epidemic is a wake-up call for companies to carefully review the strategies, policies, and procedures they ...
Read MoreThe Leader's Guide To Managing COVID-19 Panic
While it's not yet clear the extent to which COVID-19 will take its toll on our collective epidemiological, social, and economic health, it’s becoming very clear that people are frightened and businesses are preparing for down-side scenarios. If you are a business leader asking the tough questions about how resilient your business is, I suggest we start with a more foundationally important question: How resilient are your ...
Read More35 Questions for Coronavirus Planning
It’s reasonable to be concerned about the spread of the coronavirus worldwide. But it’s not the time to panic, especially for organizations, said Jennifer Elder, CPA/CFF, CGMA, a consultant and author. Business leaders should be proactive in putting emergency plans in place: for employee well-being, business continuity, remote working, and other areas. “It’s not just about you and your business,” Elder, the ...
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