Thomson Reuters Backstage is hosting a webcast, What 2020 has meant for CPAs and businesses”. Experts from the company will join via chat to answer questions and discuss topics with attendees.

Wolters Kluwer Tax & Accounting has published its “2020 Post-Filing Season Update,” a free download on CCH AnswerConnect. The briefing highlights key developments during the filing season.

The Internal Revenue Service has issued proposed regulations that updates rules for the simplified tax accounting rules for small businesses under the Tax Cuts and Jobs Act. These apply to tax years beginning in 2019 and 2020. The new rules apply to taxpayers having inflation-adjusted average annual gross receipts of $26 million or less (known as the gross receipts test). Taxpayers classified as tax shelters cannot use these rules.