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IRS Fails To Pursue High-Income Nonfilers Who Owe $46 Billion In Back Taxes, Watchdog Says

(Forbes) - Most taxpayers (84%) pay their taxes in full and on time. However, the Treasury Inspector General For Tax Administration identified 879,415 high-income nonfilers for tax years 2014 through 2016 with an estimated tax due of $45.7 billion.



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Assessing COVID-19 Losses: Considerations to Establish Business Losses (Page 10) 
(California CPA) - COVID-19 has had a profound impact on the global economy. After addressing concerns such as employee safety and short-term liquidity, many companies are now evaluating options for recovering financial losses.


How the CARES Act has Affected Business Valuation 
(JofA) - Legislation designed to help businesses during the coronavirus pandemic has created new issues for CPAs and other valuation specialists to consider. New AICPA FAQs address these valuation concerns.


McConnell, Rubio Support House Bill that Makes Changes to Paycheck Protection Program 
(Market Watch) - Measure would extend the period for using loans to 24 weeks and let borrowers spend just 60%, rather than 75%, of their loan proceeds on paying workers


How CPAs Can Play a Critical Role During Times of Change 
(Accounting Web) - Out of necessity, many priorities have shifted, but one consistent theme persists -- it’s more essential than ever that businesses turn to CPAs.


Staggering Work Schedules Made This Biotech Company More Productive 
(Inc.) - If you need your employees to return to the office, splitting shifts is an effective approach.


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