IRS Publishes New Release Regarding Business Interest Expense Limitations

The Internal Revenue Service (IRS) recently announced finalized guidance regarding business interest expense limitations. In a helpful article from the Journal of Accountancy, author Sally Schreiber offers an overview of the new rules. Background The business interest expense limitation was created by the Tax Cuts and Jobs Act (TCJA) of 2017 and subsequently modified by…

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HRC Named Accounting Today’s Best Accounting Firms to Work For

HRC is pleased to be named a 2020 Accounting Today’s Best Accounting Firms to Work For. Accounting Today has partnered with Best Companies Group to identify companies that have excelled in creating quality workplaces for employees. This survey and awards program is designed to identify, recognize, and honor the best employers in the accounting profession.…

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SBA Releases Guidance Regarding Early PPP Loan Forgiveness

On June 22, the U.S. Small Business Administration (SBA) released additional guidance regarding Paycheck Protection Program (PPP) loan forgiveness. A recent article from the Journal of Accountancy summarizes the information contained in the release. The new interim final rule primarily addresses changes made by the Paycheck Protection Program Flexibility Act of 2020. This is the…

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