Month: March 2020

The Internal Revenue Service is now accepting email and digital signatures on tax documents to make it easier for tax professionals and taxpayers to communicate with the agency during the novel coronavirus pandemic. The IRS said Monday that, effective immediately, it would “begin temporarily accepting images of signatures (scanned or photographed) and digital signatures on
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PayPal will not layoff any employees due to the coronavirus pandemic, CEO Dan Schulman said Tuesday, making the digital payments provider the latest company to make such a pledge. “We don’t intend to do any layoffs as a result of COVID-19,” Schulman said on CNBC’s “Squawk on the Street.” “This is the right thing to step up,
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New Jersey is temporarily waiving corporate nexus arising from employees teleworking due to the COVID-19 pandemic—a response to the crisis that other states should follow. As we have noted previously, when employees work in a state in which their employer does not otherwise operate, that can give their employer sufficient contacts (“nexus”) with the state
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The coronavirus pandemic is affecting most aspects of the economy, and motor fuel consumption is no exception. As social distancing recommendations, shelter-in-place-orders, and quarantines have upended American life in an effort to slow the spread of the virus, road traffic has declined dramatically around the country. While the mitigation policies will be felt across most
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The accounting, consulting and legal association Abacus Worldwide said Tuesday it has signed a letter of intent with JHI Association to merge, effective Sept. 1, 2020. Financial terms of the deal were not disclosed. JHI, an association of accounting, tax and business advisory professionals, currently includes 54 member firms in 36 countries. The merged association
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展群CK ® conducts Tax Health Check for your Companies are just like what we do for annual body checks.   The more frequent the number of health check, the easier to identify potential problems and resolve them early.  Whenever the company’s business starts to operate abroad, it will involve new tax risks in overseas areas.
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President Donald Trump said he wants to restore corporate tax deductions for business meals as restaurants reel from the impact of the coronavirus outbreak. The president said Sunday he’d spoken with celebrity restaurateurs including Wolfgang Puck, Daniel Boulud and Jean-Georges Vongerichten on the subject. Restaurants nationwide have been forced to close or restrict their business
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The Virgin Orbit ventilator device. Virgin Orbit Richard Branson’s California-based rocket company Virgin Orbit partnered with medical researchers and developed a ventilator device that the company plans to mass produce and send to hospitals around the United States to fight the coronavirus. “[It is] a very, very simple and robust design that we can get out
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Corcentric, a provider of procurement and financial process automation solutions, has created a global alliances program open to private equity, advisory, system integrator, technology, and reseller partners. Joining partners join a growing network of over 2,200 mid-market and Fortune 1000 companies providing service-oriented procurement and finance solutions in the source-to-pay, contract management, and order-to-cash space.
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SEC Chairman Jay Clayton said Monday that the practice of short selling — effectively betting that a stock will drop — is needed to “facilitate ordinary market trading.” “We shouldn’t be banning short selling,” Clayton told CNBC’s “Squawk Box.” However, he said the Securities and Exchange Commission did replace the old uptick rule with a
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On March 26, weekly initial unemployment benefit claims hit the highest level in U.S. history, with five times as many filed as during the worst week of the Great Recession. Mandatory business closures and shelter-in-place orders have radically accelerated job losses compared to the steadier pace of layoffs in prior recessions, meaning these claims likely
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When your company start to expand, potential investors may wish to invest in your company, they will review previous audit reports and conduct due diligence to understand the potential financial risks of sellers before purchasing your Company. In general, besides conducting financial due diligence to reduce the risk of hidden debt, professional investors will conduct
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