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Help for Small Businesses Hurt by COVID-19
CARES Act Provides Option to Delay CECL Reporting
The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27. Among other economic relief measures, the new law allows large public banks to temporarily postpone the controversial current expected credit loss (CECL) standard. Here are...
COVID-19 Resource Page: The CARES Act
The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) is now law. It provides economic relief to individuals, businesses, nonprofits and state and local governments. Its far-reaching provisions will impact Americans in dozens of ways. Miller Cooper's...
5 Reasons Not to Sell Stocks Now
Auditing Revenue
Traditionally, audit procedures for private companies tend to focus on the balance sheet. That is, auditors evaluate whether the book values of the company’s assets are overstated and its liabilities are understated. However, the income statement needs attention, too,...
COVID-19 Response: CARES Act to Provide Billions of Relief Dollars
After extensive negotiations between the U.S. House of Representatives, the U.S. Senate and the White House, an agreement has been reached on a massive stimulus bill to address the financial and health care crisis resulting from the coronavirus (COVID-19) pandemic. As...
Illinois Extends Filing and Payment Dates of 2019 Tax Returns
Governor JB Pritzker has directed the Illinois Department of Revenue (IDOR) to follow the federal government in providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing and payment deadline for...
Are There Unclaimed Assets with Your Name on Them?
The IRS Announces that Income Tax Payments Due April 15 Can Be Deferred to July 15, Regardless of the Amount
The IRS and the U.S. Treasury Department have been making a series of announcements to provide tax relief in the wake of the coronavirus (COVID-19) pandemic. After previously announcing that taxpayers could defer making federal income tax payments up to certain limits...
Beware: Coronavirus May Affect Financial Reporting
The coronavirus (COVID-19) outbreak — officially a pandemic as of March 11 — has prompted global health concerns. But you also may be worried about how it will affect your business and its financial statements for 2019 and beyond. Close Up on Financial Reporting The...
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