BMSS News

Senior Manager, Dalton Hopper, Named Chair of the NACVA Standards Board

BMSS Advisors & CPAs is pleased to announce that Dalton Hopper, CFE, CVA, ABV, Senior Manager in the firm’s Gadsden office, has been named Chair of the National Association of

New IRS Business Tax Accounts Are Now Available for Exempt Organizations

The IRS has expanded its Business Tax Account (BTA) portal to now include tax-exempt organizations, giving nonprofits more direct, digital access to their tax information than ever before. This is

Important Tax Update: How a Recent Court Decision May Entitle You to a Refund or Removal of IRS Penalties and Interest

Kwong v. United States — Deadline to Act: July 10, 2026 A recent court ruling — Kwong v. United States — may allow certain taxpayers to get back money they

BMSS Advisors & CPAs Member, Jan Lewis, CPA, CGMA, Named 2026 Chair of the AICPA

JACKSON, Miss., May 21, 2026 – BMSS Advisors & CPAs is proud to announce that longtime Member, Jan Lewis, CPA, CGMA, has been inaugurated as the 113th Chair of the

Torn paper strip with the word 'Tariffs' laid over a background of US dollar bills.

IEEPA Tariff Refunds Begin: What Business Owners and Finance Leaders Should Know

Written by Stephen Von Hagel, CPA, CGMA, BMSS Member In Summary: Companies that paid certain IEEPA-related tariffs may now be eligible for refunds through CBP’s CAPE process. Business owners and

Close-up of a device screen showing the IRS official website header, including the United States government banner, flag icon, and navigation links like File and Pay on a blue background.

AI-Powered Tax Enforcement: What the IRS’ Data-First Compliance Model Means for Your Business

In Summary: The IRS is rapidly modernizing its enforcement approach by using data analytics and artificial intelligence to identify potential tax noncompliance more efficiently and accurately. For businesses, especially those

Hand writing on paper with translucent futuristic dashboards showing risk monitoring and compliance panels.

Do You Have an Approved Accounting System? The Million-Dollar Question for Government Contractors

For small government contractors pursuing cost-type contracts, an approved accounting system is not just a compliance checkbox – it can be the deciding factor in winning or losing a contract.

Mississippi Passes New Grant Accountability Law: What Nonprofits and Grant Recipients Need to Know

Written by Maura McDevitt, CPA, MBA, CNAP, CGMA, BMSS Member Mississippi has enacted the Grant and Subgrant Administration Transparency and Accountability of Non-Governmental Organizations Act of 2026 (HB 1171), introducing

The AI Dirty Dozen

The Top 12 Errors, Risks, and Mistakes in the Use of AI Written by Micah Murphy, CPA, BMSS AI Advisory In Summary: AI adoption in business is no longer a

Important Update for Nonprofit Organizations – Calendar-Year Returns & Tax Payments

BMSS Advisors & CPAs will begin processing extensions for calendar, year-end federal information returns (Form 990, Form 990-EZ, and Form 990-PF) in March 2026. Our firm policy is to file

Strait of Hormuz Tensions Threaten Global Oil Supply and Fuel Prices

In Summary: Rising geopolitical tensions involving Iran have heightened concerns about potential disruptions in the Strait of Hormuz, a critical chokepoint that handles about 20% of global oil supply. Any

How Tariff Uncertainty and Supply Chain Disruptions Are Reshaping Manufacturing Strategy in 2026

In Summary: Manufacturers in 2026 are navigating an increasingly complex environment shaped by evolving tariff policies and ongoing global supply chain disruptions. To remain competitive, companies must adopt more sophisticated

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