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IRS Extends Dates on Balance Due Notices Amid Coronavirus

(Accounting Today) - While the IRS is continuing to reopen more of its offices and facilities, the notices will be delivered to taxpayers in the next few weeks, the IRS said Monday.



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Lesson From The Tax Court: How To Pay A Deficiency And Still Get To Tax Court 
(TaxProf Blog) - A basic lesson I teach students is that clients often have choices in where to obtain judicial review of a Notice of Deficiency (NOD). The usual choices are (1) file a petition in Tax Court

How to Implement an Effective Value Based Engagement System 
(CPA Practice Advisor) - The profession has been talking about the Value Based Engagement for twenty years now. A small percentage of firms (think 4%-5%) have successfully implemented this pricing structure in their operation.

Stocks of Bankrupt Companies Going Bananas Despite Companies Being Broke 
(Yahoo) - There’s been a surge of interest in stocks of companies in financial trouble, most notably Hertz (HTZ), which filed for Chapter 11 bankruptcy and was dumped by activist investor Carl Icahn only to be picked up by many users on Robinhood and other stock-trading platforms.

Managing the Going Concern Risk in an Uncertain Environment 
(CPA Journal) - An analysis of regulatory guidance and financial relief for the COVID-19 pandemic

Gas Prices are Going Up as America Reopens, the National Average is $2.10 a Gallon 
(USA Today) - According to fuel-savings app GasBuddy, the national average price of gasoline has risen for the sixth consecutive week from the low of $1.74 per gallon in April, and increases are expected throughout the summer.

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