The American Institute of CPAs has awarded $50,000 in educational grants to undergraduate and graduate accounting students who have suffered financially because of the pandemic. Twenty-five AICPA Student Affiliate members have received $2,000 each.
People & Moves
The Internal Revenue Services has released an early draft of instructions on Form 1065 for tax year 2020 regarding the reporting of capital accounts to partners in K-1s. Revised instructions require partnerships to calculate partner capital accounts using the transactional approach for the tax basis method.
Chatbots emerged as important tools for state chief information officers in responding to the COVID-19 crisis. The 2020 State CIO Survey, sponsored by the National Association of State Chief Information Officers), Grant Thornton and CompTIA found Chatbots, used for online citizen service inquiries was by far the most common technology implemented this year.
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