Summing It Up

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Topic: Getting Back To Business

Opportunity Zones Explained: IRS Guidance Updates
By Don Warrant, CPA on June 24, 2020

On June 4, 2020, the IRS released Notice 2020-39 which provides relief under the federal Qualified Opportunity Zone (“QOZ”) program as follows: 1.) 180-Day Investment Requirement for QOF...

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What’s New With BSA/AML Risk Assessments and the Bank Secrecy Act?
By Bruce Rumbold on June 10, 2020

I recently attended a very informative webinar by BankWebinars.com regarding the April 2020 update to the BSA-AML Examination Manual. While I had read the update, essentially a re-format...

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FASB Issues Guidance on Deferral Dates for Revenue Recognition & Leases Standards
By Chirico Rozsa, CPA on June 4, 2020

Today, the FASB issued formal guidance for the deferral dates of two standards. Revenue from Contracts with Customers (more commonly referred to as ‘Rev rec’) has been deferred by one year...

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SOC Reporting and COVID-19 – The Four Things Your Organization Needs to Consider
By Jonathan Holmes on June 1, 2020

Because of COVID-19 many businesses have been forced to change how they operate. More employees than ever before are working remotely and whether you have realized it or not, your control...

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New York Forward Loan Fund Provides Additional Support for Small Businesses and Nonprofits
By Jonathan Tretter, CPA on May 27, 2020

New York State in conjunction with Empire State Development and Homes and Community Renewal recently announced a new economic loan recovery program designed for targeted small businesses,...

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Adapting to a Remote Work Environment
By Freed Maxick on April 15, 2020

Ideas to “normalize” your environment to adapt to work style changes For much of the workforce, life has changed drastically over the past few weeks. The combination of school closings and...

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