Moving You Forward
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:
Plan Options for COVID-19 Impacted Businesses
The government’s response to COVID-19 has left many facing forced closure or seismic changes to sales and expense forecasts. This new reality has left business owners looking for ways to bolster working capital while reducing fixed and other costs
IRS Issues Tax Extension Guidance for Taxpayers
On March 13, 2020, the President of the United States issued an emergency declaration under the Stafford Disaster Relief and Emergency Assistance Act in response to the ongoing Coronavirus Disease pandemic.
Tax Filing Deadline Extended 90 Days
This morning, the US Treasury Secretary stated “We are moving Tax Day from April 15 to July 15” on Twitter. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
Tax Developments: Payment Deadline Changes and New Legislation
Late Wednesday afternoon, Treasury released Notice 2020-17, which defined the previously discussed payment extensions. Tax payments due April 15, 2020, including both 2019 income tax payments and 2020 estimated income tax payments, are postponed until July 15, 2020.
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.
