Blog | Albin Randall & Bennett
Recent Articles
Taxpayer COVID-19 Filing and Tax Payment Relief
The IRS has released Notice 2020-18 which supersedes Notice 2020-17. This notice follows additional statements from Treasury Secretary Mnuchin on Friday March 20th about providing
U.S Office of Management and Budget (OMB) Issues Administrative Relief for Organizations Receiving Federal Grants and Aid
On March 19th, the OMB issued M-20-11 to provide relief to grant and award recipients and flexibility to the awarding agencies in order to expedite
IRS Extends Federal Filing Deadline to July 15, 2020
Today the US Treasury extended the filing deadline date for federal returns to coincide with the payment due date extension that was announced earlier this week. Treasury
A Summary of H.R. 6201 Families First Coronavirus Response Act
This has certainly been an “interesting” couple of weeks. Information has been coming so fast at all of us, it’s hard to keep up. As
IRS Extends Tax Payments for 90 Days
On Wednesday March 18, the IRS issued Notice 2020-17, Relief for Taxpayers Affected by Ongoing Coronavirus Disease 2019 Pandemic, as follow up to Treasury Secretary Steven
COVID-19 Updates for Auto Dealers
In an effort to keep you informed up the latest updates re: the current business environment, we are going to send emails, update our LinkedIn
FinCEN Director Calls on Credit Unions and Banks for Help: SARs Related to COVID-19
The 2020 ACAMS Annual AML & Anti-Financial Crime Conference was held this week, and Financial Crimes Enforcement Network (FinCEN) Director Ken Blanco was among the
Accounting for Automotive Inventory: LIFO, Specific Identification, & Valuation Method Considerations
As an automotive dealership, your inventory is your largest current asset, so properly measuring inventories against expenses and revenue is imperative. Key financial and operational
FASB ASU 2020-07: New Standard Addresses Nonprofit Gifts-in-Kind
On September 17th, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07 on Topic 958, Presentation and Disclosures by Not-for-Profit Entities for
Maine DECD Announces Phase II of the Maine Economic Recovery Grant Program
Update as of September 21, 2020: The DECD has announced Phase II of the Maine Economic Recovery Grant Program. Phase I of the Program, launched
A Construction Company’s Guide to Approaching Today’s Risk Management
As with all industries, the construction sector continues to realize the far-reaching effects of COVID-19 crisis. Now, more than ever, it’s imperative for a construction