Articles
- Taxpayers Can Get Last Minute Filing Tips On IRS.gov
The July deadline for filing a 2019 tax return is near, but IRS tax help is available 24 hours a day on IRS.gov . Whether filing a tax return, requesting an extension or making a payment, the IRS website can help taxpayers answer... read more
- Taxpayers Should File By July 15 Tax Deadline; Automatic Extension To Oct. 15 Available
IR-2020-134, June 29, 2020 WASHINGTON ― The Department of the Treasury and IRS today announced the tax filing and payment deadline of July 15 will not be postponed. Individual taxpayers unable to meet the July 15 due date can request an automatic... read more
- 2020 Legislative Session Wrap Up
Legislative Session Update The Georgia General Assembly has just wrapped the end of the General Assembly’s 2020 Legislative Session. For the 2020 session, GSCPA closely monitored the following bills, as they were of high importance:... read more
- Legislative Update: IRC Update (Conformity Bill) Passes House Heads to Governor's Desk
Breaking News – The Georgia IRC Update (Conformity Bill), now HB 846, has just passed both the Senate Floor (yesterday) and now the House with a vote of 110-56. It is now headed to Governor Brian Kemp next for his signature. HB 846 can be... read more
- The Four Basic Food Groups of Audits: Satisfying Your Audit Risk Appetite
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Audit risk is defined by AU-C Section 200 as the risk that the auditor expresses an inappropriate audit opinion when the financial statements are materially misstated. In other words, the auditor messed up and missed something big.... read more
- Post-Pandemic Nexus in Georgia
The Georgia Department of Revenue (DOR) recently updated their FAQ on nexus as a result of the COVID virus. This results from the use of the word “temporary” in the original pronouncement. The original FAQ response from DOR is shown... read more
- How the Georgia CPA Community is Responding to COVID-19
For many people, working from home occasionally is a nice perk. But when stay at-home/shelter in place orders were issued as a result of the COVID-19 pandemic, working from home was no longer a luxury – it was a necessity. Read how GSCPA... read more
- Guidance for Coronavirus-Related Distributions and Loans from Retirement Plans Under the CARES Act
Notice 2020-50 provides guidance relating to the application of section 2202 of the CARES Act for qualified individuals and eligible retirement plans. Under section 2202 of the CARES Act, qualified individuals receive favorable tax treatment... read more
- Relief For Taxpayers Affected By COVID-19 Who Take Distributions Or Loans From Retirement Plans
WASHINGTON – The Internal Revenue Service today released Notice 2020-50 (PDF) to help retirement plan participants affected by the COVID-19 coronavirus take advantage of the CARES Act provisions providing enhanced access to plan... read more
- SBA and Treasury Announce New EZ and Revised Full Forgiveness Applications for the Paycheck Protection Program
Washington—Today, the U.S. Small Business Administration (SBA), in consultation with the Department of the Treasury, posted a revised, borrower-friendly Paycheck Protection Program (PPP) loan forgiveness application implementing the PPP... read more
