ShindelRock is proud to sponsor MICPA Small Firm Interchange!

  • October 13, 2020
  • ShindelRock

ShindelRock is proud to sponsor MICPA's Small Firm Interchange this month! Be sure to check out our virtual "booth" when you're there. (more…)

PPP loans under $50,000 get simplified forgiveness process with new rule

The U.S. Small Business Administration and the Treasury Department are making it easier for companies to get their Paycheck Protection Program loans of $50,000 or less forgiven with a simpler loan forgiveness application and interim final rule. The new application...

IRS releases guidance on payroll tax deferral, but questions remain

On August 8, 2020, the President signed an executive order directing the Treasury Department to defer the withholding, deposit, and payment ofthe employee portion of social security taxes (6.2%) for the period beginning September 1, 2020, and ending December 31, 2020.  The...

The Culture Test: Three ways to ensure cultural fit when selling your small public accounting firm

  • September 3, 2020
  • Mark Hughes CPA CFE

It's no secret: accounting firms in Southeast Michigan are eyeing each other with interest lately. Mergers between firms in our industry have been on a ten-year tear, with no abatement in sight. If you’re considering the sale of your business...

ShindelRock Senior Accountant Amanda Sayn, CPA, earns CFF designation

  • September 2, 2020
  • ShindelRock

Amanda Sayn, a CPA financial forensics expert with ShindelRock, has recently been awarded the Certified in Financial Forensics (CFF) Credential by the American Institute of Certified Public Accountants (AICPA). The CFF Credential, established in 2008 by the AICPA, is granted to...

SBA issues surprising new PPP guidance addressing rent-related costs and owner-employee compensation 

On August 24, the Small Business Administration (SBA) issued a new Interim Final Rule (IFR) addressing the Payroll Protection Program (PPP) as it relates to the ownership percentages that trigger the applicability of the owner compensation rules and limitations on the eligibility...

IRS temporarily stops mailing notices to taxpayers with balances due

The IRS has suspended the mailing of three notices – the CP501, the CP503 and the CP504 – that go to taxpayers who have a balance due on their taxes. Although the IRS continues to make significant reductions in the backlog of unopened mail that...

SR Video Client Question: “What are the benefits of year-round tax planning?”

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IRS delays due to COVID-19 may cause check and notice backlog

The IRS is working through its correspondence backlog and is experiencing delays in processing paper returns, due to its limited staff during the pandemic: Checks: The correspondence backlog includes checks that taxpayers have mailed to the IRS (either with or...

Small IRS interest payment coming to some taxpayers

  • August 19, 2020
  • Dana Cinquepalmi

The Treasury Department and the Internal Revenue Service will send interest payments to about 13.9 million individual taxpayers who timely filed their 2019 federal income tax returns and are receiving refunds. The interest payments, averaging about $18, will be made...