The novel coronavirus (COVID-19) pandemic has adversely affected the global economy. Companies of all sizes in all industries are faced with closures of specific locations or complete shutdowns; employee layoffs, furloughs or restrictions on work; liquidity issues; and disruptions to their supply chains and customers. These negative impacts have brought
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel coronavirus (COVID-19) crisis. Those provisions will also have an impact on financial reporting. Companies that issue financial statements under U.S. Generally Accepted Accounting Principles (GAAP)
Dear Clients, We are thankful to hear Colorado Governor Polis issued guidelines to start allowing businesses and local economies to proceed in phased public opening. We are seeing first hand how so many of you and our communities have been disrupted. Safety of our employees, families, clients, and community is
The novel coronavirus (COVID-19) pandemic and the resulting economic fallout is dealing a crushing blow to charitable organizations. Indeed, during a time when food banks, disaster relief and other nonprofit services are needed most by the public, their funding is suffering due to cancelled fundraising events and other factors. If
You may have heard that the federal income tax filing and payment deadline has been extended from April 15, 2020, to July 15, 2020, to provide relief for taxpayers adversely affected by the coronavirus (COVID-19) pandemic. What you may have missed is that the U.S. Treasury Department also extended the
The economic fallout from the coronavirus (COVID-19) pandemic has forced business owners to reevaluate their operations and make difficult decisions. One place to look for the information you need to make rational, reasonable moves is your financial statements. Under U.S. Generally Accepted Accounting Principles, these typically comprise a statement of
DWC has created a resources page to help businesses and employers navigate coronavirus news and updates regarding tax deadlines and payment extensions, federal and state relief provisions, and disaster loan assistance. We continue to update the page as information becomes available. Click HERE or find on our website under the
Scammers are already using fraudulent methods to attain your personal information with the CARES relief payment issuance to individuals. Because many of these stimulus payments are to be issued by direct deposit, scammers are “phishing” by phone calls, text messages, or emails to pretend to verify your banking information. The
