Pay Bill
Book and Tax Implications of Earnouts
One of the many challenges in any deal negotiation is for the buyer and seller to reach an agreement on the purchase price. This is especially true during times of
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The White House Submits Its 2023 $5.8 Trillion Budget Proposal
On Monday, March 28, 2022, President Biden submitted his budget proposal to Congress for the 2023 fiscal year. The budget would reduce the national deficit by approximately $1 trillion over
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If You Require an EBP Audit, Changes Are Coming
If your company’s employee benefit plan (EBP) is required to have an annual audit performed under ERISA, particularly if you have a limited scope audit, please note that your audit
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K-2/K-3 Filing Requirements
By: Cooper Melvin, JD, CPA Taxpayers owning an interest in certain partnerships or S corporations may have noticed additional information in the Schedule K-1 package for 2021 regarding international tax
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Professional Services Companies Capitalize on M&A Opportunities
The professional services industry is built on the exchange of ideas and the provision of guidance. Though not immune to the pitfalls that can impact any industry, such as lack
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New Form 7203
By Cooper Melvin, JD, CPA The IRS recently released the final version of the new Form 7203 to better document S corporation stock basis in connection with the income tax
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How the Advance Child Tax Credit May Reduce Your Refund or Increase Your Amount Due
By Ashley G. White, JD, CPA For those of you who make up part of the millions of families who received up to half of their child tax credit via
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Employee Retention Credit – Timing of Qualified Wages Deduction Disallowance
By Steven N. Smith, CPA, JD Initially, the employee retention credit (ERC), enacted by the CARES Act, was not available to paycheck protection program (PPP) borrowers. The passage of the
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The IRS’ Ever-Growing Backlog and Suspension of Selected Automated Notices
By Dalton Bradshaw, CPA In our Beyond the Bottom Line Newsletter on January, 26, 2022, we summarized the annual report of the Taxpayer Advocate Service to Congress. The report noted
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Positive Pay
By Cooper Melvin, CPA, JD Due to a recent checking account fraud scheme in the local news, as a business owner or checking account holder, you may be wondering how
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IRS Announces Transition Away from Use of Third-party Verification Involving Facial Recognition
In our Beyond the Bottom Line Newsletter dated January 12, 2022, we described the updated identity verification and sign-in process for several IRS online tools. As they say about not
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IRS “Report Card” Warns of a Challenging 2022 Filing Season for Taxpayers and Tax Professionals
By Steven N. Smith, CPA, JD The 2022 filing season will likely be a frustrating experience for both taxpayers and tax professionals. Individual returns can be submitted to the IRS
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