Episode from the podcastCloud Accounting Podcast

IRS To Increase Audits On Small Business By 50%

Released Wednesday, 25th November 2020
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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-commissioner-rettig-on-penalty-relief

30:10 – IRS investigating fewer tax preparers
https://www.accountingtoday.com/news/irs-investigating-fewer-tax-preparers

31:35 – Top Challenges? Staffing, Staffing, Staffing
https://cpatrendlines.com/2020/11/19/web-portals-are-here-to-stay/

33:18 – PayPal Gives Employees Early Paycheck Access
https://www.pymnts.com/news/payments-innovation/2020/paypal-gives-employees-early-access-to-paychecks-though-evens-app/

34:48 – QuickBooks Connect 2020 Hosts Thousands Virtually
https://www.intuitiveaccountant.com/general-ledger/quickbooks-connect-2020-hosts-thousands-virtually/

39:28 – QuickBooks Live Bookkeeping update: November 2020
https://www.firmofthefuture.com/content/quickbooks-live-bookkeeping-update-november-2020/

41:36 – Intuit has Launched HubSpot for QuickBooks
https://www.intuitiveaccountant.com/general-ledger/intuit-has-launched-hubspot-for-quickbooks/

47:28 – Intuit (INTU) Q1 Earnings & Revenues Top Estimates, Increase Y/Y
https://finance.yahoo.com/news/intuit-intu-q1-earnings-revenues-131201694.html

51:19 – Why Xero investors should forget the US market
https://www.afr.com/technology/why-xero-investors-should-forget-the-us-market-20201110-p56d8y

54:41 – A Review! Thank you, B Stoltzfus! 

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Episode Details

Length
58m 11s
Explicit
No
Episode
202
Episode Type
Full

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