T.I.E. BlogT.I.E. Blog

(The.Idea.Exchange) Blog. Timely articles on a wide range of topics including new tax legislation, accounting regulations, best practices, industry news, business insights and more.

New Stimulus Proposal: The Heals Act

An intensifying coronavirus pandemic has prompted Congress to look at a second round of stimulus as the recession continues to deepen. On July 27th, Senate Republicans announced the Heals Act (Health, Economic Assistance Liability Protection & Schools Act), a $1…

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Posted in Tax Legislation  |  Leave a comment

Update: nonprofit fraud

Every two years, the Association of Certified Fraud Examiners (ACFE) publishes what has become the definitive guide for preventing and detecting workplace fraud. The recently released Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse draws conclusions…

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Posted in Not-for-Profit  |  Leave a comment

Is your nonprofit’s tap running dry?

The COVID-19 crisis has put enormous financial stress on many not-for-profits — whether they’re temporarily shut down or actively fighting the pandemic. If cash flow is a problem, your organization may need to do more than trim expenses. Here’s how…

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Posted in Not-for-Profit  |  Leave a comment

Main Street Lending Program open to nonprofits

In late July, the Federal Reserve announced that not-for-profit organizations  may now apply for loans under the $600 billion Main Street Lending Program. Previously open only to for-profit businesses with more than 100 employees, the program offers low-interest loans with…

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Assessing productivity in a pandemic

The COVID-19 crisis is affecting not only the way many businesses operate, but also how they assess productivity. How can you tell whether you’re getting enough done when so much has changed? There’s no easy, one-size-fits-all answer, but business owners…

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Posted in Business Management  |  Leave a comment

IRS guidance provides RMD rollover relief

The CARES Act was enacted in an attempt to mitigate the economic effects of the COVID-19 pandemic. Among other things, it extends favorable tax treatment to qualified individuals who take “coronavirus-related distributions” (CRDs) from IRAs, 401(k) plans and certain other…

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Posted in Tax  |  Leave a comment

PPP and EIDL Programs Extended

The Paycheck Protection Program application deadline has officially been extended to August 8th.  Under the program, the SBA had approved almost 4.9 million loans, totaling $520.6 billion. Despite the program’s popularity, it had approximately $130 billion in unallocated funds when…

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Posted in Business Management  |  Leave a comment