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IRS To Increase Audits On Small Business By 50%
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Show Notes
07:58 – 36% of Americans Won't Move to Rural Areas Due to Slow Internet Speeds
https://smallbiztrends.com/2020/11/rural-internet-speeds-urban-sprawl.html
11:09 – Women less likely to feel fairly comped for WFH expenses
https://www.accountingtoday.com/news/women-less-likely-to-feel-fairly-compensated-for-work-from-home-expenses-during-pandemic
17:01 – Congress blasts IRS for limits on forgiven PPP loan tax breaks
https://www.accountingtoday.com/articles/congress-blasts-irs-for-limits-on-forgiven-ppp-loan-tax-breaks
17:23 – IRS clarifies deductibility of PPP loan expenses, as AICPA criticizes forgiveness questionnaire
https://www.accountingtoday.com/news/irs-and-treasury-clarify-deductibility-of-ppp-loan-expenses-as-aicpa-criticizes-forgiveness-questionnaire
17:50 – IRS Crushes Hopes Of Deducting PPP-Paid Expenses Before Forgiveness Approval; But Questions Remainhttps://www.forbes.com/sites/anthonynitti/2020/11/19/irs-crushes-hopes-of-deducting-ppp-paid-expenses-before-forgiveness-approval-but-questions-remain/
19:13 – Letters signed by AICPA raise concerns about PPP Loan Necessity Questionnaires
https://www.journalofaccountancy.com/news/2020/nov/aicpa-signed-letters-raise-concerns-ppp-loan-necessity-questionnaires.html
20:01 – PODCAST: How Fraud and Waste Seeped into a COVID Stimulus Program (WSJ’s The Journal)
https://podcasts.apple.com/us/podcast/the-journal/id1469394914?i=1000499272495
23:22 – Evidence of PPP Fraud Mounts, Officials Say
https://www.wsj.com/articles/ppp-was-a-fraudster-free-for-all-investigators-say-11604832072
24:55 – Mnuchin pulls plug on some pandemic lending programs that Fed considers essential
https://de.reuters.com/article/us-usa-fed-mnuchin-idUSKBN27Z34P
25:54 – IRS plans a 50% ramp-up in small-biz audits next year
https://www.accountingtoday.com/articles/irs-plans-a-50-ramp-up-in-audits-of-small-businesses-next-year
27:57 – AICPA disagrees with IRS commissioner Rettig on penalty relief
https://www.accountingtoday.com/news/aicpa-disagrees-with-irs-commissione