BMSS Trending Issues

Your Credit Union Is Already Facing New Cybersecurity and AI Governance Expectations. Is Your Institution Ready?

In Summary: Credit unions are facing heightened cybersecurity and AI governance expectations from regulators, with NCUA and FFIEC examiners increasingly requiring evidence that security controls, risk management processes, and operational

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

Two women collaborate at a bright office table, looking at a laptop with sticky notes on a glass wall behind them.

The 3 C’s of Onboarding: The Essential Components of a Successful Employee Onboarding Strategy

Written by: Rebecca Tipton, SHRM-SCP Putting the “Resource” in Human Resources Consulting Employers often spend significant time and resources recruiting new hires, yet many underestimate the importance of what happens

Manufacturing in America: How Tax Policy, Supply Chain Risks, and Regional Incentives Are Reshaping Location Strategy

Written by Ryan Carter, CPA In summary: U.S. manufacturing is experiencing a resurgence driven by favorable tax policy, supply chain resilience needs, and competitive regional incentives, making domestic expansion more

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

Putting Employees First Fuels Growth at BMSS

In an industry experiencing unprecedented transformation, the BMSS Family of Companies has discovered a counterintuitive truth: taking care of employees is the most direct path to client success and firm

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

Can the Right KPIs Help Manufacturers Navigate Rising Costs in 2026?

As manufacturing companies head into 2026, the ability to track and control expenses has become more critical than ever. With tariff-related cost pressures continuing to affect margins and input costs

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