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The implementation of Governmental Accounting Standards Board Statement 84, Fiduciary Activities (GASB 84), which requires compliance by June 30, 2021, will create challenges and significantly impact the accounting and reporting requirements of New Jersey school districts.

The IRS issued new rulings on November 18, 2020 in the form of Revenue Ruling 2020-27 and Revenue Procedure 2020-51, announcing guidance on the tax deductibility of expenses related to Paycheck Protection Program (PPP) loans that have not yet been forgiven.

PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax and advisory firms, announced today that its internship program was ranked fourth in Vault’s 2021 100 Best Internships List – an increase in the rankings from tenth last year. The Firm received several other high rankings, including #2 in the list of best accounting internships.