November 2021: Current Tax & Accounting News
The latest tax and accounting news and headlines for personal taxpayers, businesses, and credit unions.
Tax & Accounting News
2021 Holiday Shipping Deadlines for USPS
For small businesses that are relying more on shipping as part of their operations, the USPS just announced their 2021 holiday shipping deadlines. Read the full article here.
11/29/2021, Michael Guta, Small Business trends, accessed 11/29/2021, https://smallbiztrends.com/2021/11/usps-2021-holiday-shipping-deadlines.html
Taxpayer alert as holidays, tax season approach: Watch out for scams, protect financial information
The IRS is warning taxpayers to be careful of scammers disguised as legitimate sources requesting personal information. Find out what you should be looking for and how you can protect yourself from succumbing to their appeals. Read more.
11/29/2021, IRS, accessed 11/29/2021, https://www.irs.gov/newsroom/taxpayer-alert-as-holidays-tax-season-approach-watch-out-for-scams-protect-financial-information-national-tax-security-awareness-week-day-1-highlights-important-tips/
IRS: All of Mississippi now qualifies for expanded Hurricane Ida relief
The IRS recently announced that victims of Hurricane Ida throughout Mississippi now have additional time — until January 3, 2022 — to file various individual and business tax returns and make tax payments. See the full article.
11/29/21, IRS, accessed 11/17/2021, https://www.irs.gov/newsroom/irs-all-of-mississippi-now-qualifies-for-expanded-hurricane-ida-relief-sept-15-oct-15-deadlines-other-dates-extended-to-jan-3
Credit Union News
Find Your CECLution: FREE Webinar for Louisiana CUs
Is your credit union still looking for a simple solution for CECL accounting requirements? The Current Expected Credit Loss accounting model is a significant change that doesn’t have to overwhelm you. Join Mark Debree of Catalyst Strategic Solutions for this one hour webinar FREE for LCUL members as he illustrates how CECLution’s robust, online platform delivers the simplicity you are looking for with an abundance of functions including:
- Captures and maintains credit union historical data
- Automatically integrates economic data
- Displays credit union and peer data
- Preserves core assumptions for easy updates
- Saves and stores forecasts
NAFCU & CUNA Join Bankers to Oppose SBA Direct Lending
The Build Back Better Act passed by the House and awaiting Senate approval, includes a provision which would allow the Small Business Administration to become a direct lender to small businesses, likely impacting critical relationships between local financial institutions and local businesses. Details here.
11/17/2021, Jim DuPlessis, CUNA, accessed 11/29/2021, https://www.cutimes.com/2021/11/17/nafcu-cuna-join-bankers-to-oppose-sba-direct-lending/
Griffin & Furman, CPA Firm
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