Latest Accounting, tax preparation and payroll services News

Court tosses convictions of former Wilmington Trust execs

Jan. 12, 2021 5:46 PM EST

DOVER, Del. (AP) — A federal appeals court has overturned the convictions of four former executives for the only financial institution to be criminally charged in connection with the federal bank bailout program. A three-judge panel on Tuesday reversed the convictions of the former Wilmington Trust...

FILE - In this April 23, 2020 file photo, President Donald J.Trump's name is printed on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak in San Antonio.  The IRS said that after initial problems, it is getting more of the second round of relief payments to taxpayers. A number of people who filed their taxes with an online preparation service initially found that their economic impact payment did not make it to them directly.   (AP Photo/Eric Gay)

IRS gets more relief payments out after delays

Jan. 12, 2021 2:07 PM EST

The IRS said that after initial problems, it is getting more of the second round of relief payments to taxpayers. The government began distributing the payments, worth $600 per eligible adult and dependent, at the end of December. However, many people who filed their taxes with an online preparation service...

Victor Flores, 66, a third-generation owner of a gift shop, sweeps the steps of his store on Olvera Street in downtown Los Angeles, Wednesday, Dec. 16, 2020. Millions of business owners are about to get additional help as they weather the coronavirus outbreak. The Small Business Administration and the Treasury Department are reviving the Paycheck Protection Program five months after its first two rounds of funding ended. (AP Photo/Jae C. Hong, file)

More coronavirus relief on the way for small businesses

Jan. 8, 2021 10:34 AM EST

NEW YORK (AP) — For Nancy Sinoway, a second coronavirus relief loan would increase the chances that her dressmaking business will survive. “I could use it for marketing, for new samples. I could use it as a lifeline,” says Sinoway, who designs and makes dresses for occasions like weddings and...

FILE - In this April 23, 2020, file photo, President Donald Trump's name is seen on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak, in San Antonio. The U.S. Treasury and IRS have sent out the bulk of the second economic impact payments, which are intended to provide some relief to Americans. However, frustration is high among millions of people who did not receive payments yet and must wait for the mail or file their taxes before they receive it. (AP Photo/Eric Gay, File)

Didn't get your relief payment yet? You aren't alone

Jan. 7, 2021 3:30 PM EST

Didn't get your second relief check yet? You aren't alone. While the IRS and Treasury have distributed the bulk of the anticipated $164 million in second-round of relief payments for Americans faster than the first time, millions have not gotten payments yet or found hiccups in the distribution. The latest...

FILE - In this April 23, 2020, file photo, President Donald Trump's name is seen on a stimulus check issued by the IRS to help combat the adverse economic effects of the COVID-19 outbreak, in San Antonio. A number of taxpayers who use tax preparation services, such as H&R Block and TurboTax, say their second relief payments were sent to the incorrect bank account. The IRS and the Treasury Department began issuing the Economic Impact Payments last week of Jan. 1, 2021.   (AP Photo/Eric Gay, File)

Some taxpayers find relief payments sent to wrong account

Jan. 5, 2021 6:17 PM EST

A number of taxpayers who use tax preparation services, such as H&R Block and TurboTax, say their second relief payments were sent to the incorrect bank account, forcing them to wait longer for their money. The IRS and the Treasury Department began issuing the Economic Impact Payments last week. The payment...

FILE - In this June 5, 2020 file photo, President Donald Trump poses for a photo after signing the Paycheck Protection Program Flexibility Act during a news conference in the Rose Garden of the White House in Washington.  Thousands of minority-owned small businesses were at the end of the line in the government’s coronavirus relief program as many struggled to find banks to accept their applications. Or, they were disadvantaged by the program's terms. Data from the Paycheck Protection Program analyzed by The Associated Press show many minority owners desperate for a loan didn’t receive one until the PPP's last weeks.   (AP Photo/Evan Vucci, File)

Minority-owned companies waited months for loans, data shows

Jan. 3, 2021 11:09 AM EST

NEW YORK (AP) — Thousands of minority-owned small businesses were at the end of the line in the government’s coronavirus relief program as many struggled to find banks that would accept their applications or were disadvantaged by the terms of the program. Data from the Paycheck Protection Program...

This Monday, Dec. 21, 2020, photo shows a line of empty chairs bearing the names of workers who have lost their jobs during the pandemic, outside Crumbs restaurant in Danville, Calif. (AP Photo/Michael Liedtke)

As small businesses await new US aid, it's too late for some

Dec. 22, 2020 5:15 PM EST

NEW YORK (AP) — Clay Reynolds is starting to make peace with a gut-wrenching reality: He may have to once again close his business, Arrichion Hot Yoga and Circuit Training. The $900 billion pandemic relief package that Congress has just approved contains billions in aid directed specifically at struggling...

China criticizes US corporate auditing penalties

Dec. 21, 2020 6:35 AM EST

BEIJING (AP) — China’s government on Monday called on Washington not to enforce a measure that might expel Chinese companies from U.S. stock exchanges if they fail American government audits. The law, signed Friday by President Donald Trump, is a response to complaints Chinese companies were...

The sun rises over the London Eye, in London, Saturday, Dec. 5, 2020. (AP Photo/Alberto Pezzali)

UK sees record number of job losses during 3- month period

Dec. 15, 2020 4:15 AM EST

LONDON (AP) — The number of people in the U.K. who lost their jobs hit a record high in the three months through October during the run-up to the planned ending of a government salary support scheme, official figures showed Tuesday. The Office for National Statistics said redundancies reached 370,000 in...

Offutt Air Force lab brings closure to Pearl Harbor families

Dec. 7, 2020 5:25 PM EST

OMAHA, Neb. (AP) — The remains of Nebraska and Iowa sailors who were killed in the attack on Pearl Harbor 79 years ago will get to return home soon thanks to the work of experts at Offutt Air Force Base. It's part of a five-year effort to identify Navy sailors and Marines who went missing while serving on...