On September 17, 2020, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) No. 2020-07, Not-for-Profit Entities (Topic 958), Presentation and Disclosures by Not-for-Profits Entities for Contributed Nonfinancial Assets.
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Many eligible nonprofits applied for and received Paycheck Protection Program (PPP) loans.
We know things aren’t back to business as usual, but until we can meet you in the office, we’re happy to meet you where you are!
What is security awareness training?
The Internal Revenue Service (IRS) has shared promoted the Coronavirus Aid, Relief, and Economic Security (CARES) Act as a containing favorable tax treatment for eligible individuals for withdrawals from retirement plans and IRAs for eligible individuals.
The most important item to note is that the FAQ indicates eligible payroll and non-payroll costs incurred before the covered period…