Main Street Practitioner Blog

Tax and Accounting News for Practitioners from Main Street to Wall Street

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The Main Street Practitioner Blog is a place for members, content specialists, instructors, and staff of the National Society of Accountants to share their perspectives on accounting, tax preparation, the IRS, practice management tips and tools, technology, and more.

Members of NSA can read industry articles, thought-leadership content, and practice management sourced from leading minds in tax and accounting. NSA also solicits material from new and emerging authors who are willing to share knowledge with our membership.

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  • June 10, 2020 John Rice NSA CEO The Treasury Secretary Steven Mnuchin appeared at a hearing of the Senate Small Business Committee today, telling the Committee that he supports additional aid to large and small businesses that have been hit hardest by the coronavirus pandemic. “I definitely think we ...

  • A bipartisan bill passed the House of Representatives today intended to loosen the compliance requirements on Paycheck Protection Program (PPP) loans. The bill will affect hundreds of billions of dollars in small-business loans made under the PPP and is in response to concerns from employers struggling ...

  • NSA sent a letter to Senator Chuck Grassley (R-IA) last week objecting to details of IRS Notice 2020-32.    Lawmakers on both sides of the aisle are requesting that the Internal Revenue Service (IRS) reverse their ruling made in   Notice 2020-32 . This momentum, now building in Congress, seeks ...

  • The SBA reopened the PPP last Monday, once again offering a pipeline for small-business loans and grants. The reopening, however, echoed the previous efforts by the administration to support small businesses with a chorus of complaints from borrowers and lenders alike regarding delays and systems failures ...

  • Key government agencies are simply overwhelmed by the worst economic downturn in 80 years, the resulting demand for the relief, and the speed at which it is needed. These agencies are understaffed and underfunded and are struggling to deliver.   Millions of households and small businesses are still ...

  • On April 23, the Small Business Administration (SBA) issued new guidance intended to prevent larger publicly traded companies from accessing the next round of Paycheck Protection Program (PPP) funding intended for small business relief. The new SBA guidelines require that companies applying for relief ...

  • The Small Business Administration (SBA) has announced further guidance and details to the advance on their Economic Injury Disaster Loan (EIDL). Information is also given regarding the Paycheck Protection Program. NSA will provide further information as it becomes available. Read the full SBA ...

  • The Treasury & IRS have unveiled the new online application to help with COVID-19 Economic Impact Payments.  Get My Payment  allows people to provide direct deposit information and gives an expected payment date.   " Get My Payment  will offer people with a quick and easy way to find ...

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    Senate Adjourns Without Deal

    NSA CEO John Rice has written an article to keep you up to date on the evolving Paycheck Protection Program loan roll-out. This article discusses the US Senate's failure to reach a deal on an additional $250 billion for the PPP and the urgency for funding to reach small businesses. Here is a ...

  • Alexandria, V.A. (April 8, 2020) –   Today, the National Society of Accountants (NSA) sent a letter to all members of Congress voicing concerns raised by NSA members regarding the implementation issues of the CARES Act. The position of the NSA is that the programs aimed at providing assistance to ...