Monthly Archives: April 2020

The new lease accounting standard set to take affect could receive a delay according to a plan from the Financial Accounting Standards Board (FASB). FASB is considering the delay in the wake of the COVID-19 pandemic which would affect private companies and nonprofit organizations. Furthermore, a delay of an additional year for the new revenue […]

The CARES Act signed March 27 included provisions regarding net operating losses (NOLs) relating to carrybacks in an effort to provide tax relief. On April 9, the IRS released guidance on this measure including: “waiving the carryback period in the case of a net operating loss arising in a taxable year beginning after Dec. 31, […]