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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BMSS Promotes Two Employees, Joyce Rinaldi, CPA and Amy Stapler, CPA, to Member

Joyce joined the Huntsville team in 2013 and is currently a Member in Client Accounting Solutions (CAS).  Her specific expertise lies in providing virtual CFO solutions as well as assisting

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Business License Renewal Information

City of Birmingham Any person or entity desiring to conduct trade or provide services within the city limits of Birmingham is required to register with the City of Birmingham. The

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Build Back Better Act’s Proposed Tax Changes on Indefinite Hold

A few days before Christmas, West Virginia Democratic Senator Joe Manchin announced on both Fox News Sunday and his website that he would not support the Build Back Better Act (BBBA), President

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Important Information Regarding 2021 Personal Income Tax Returns

IRS Issuing Information Letters to Advance Child Tax Credit Recipients and Recipients of the Third Round of Economic Impact Payments On December 22, 2021, the IRS announced that it will

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How Nonprofits Can Navigate the Great Resignation

By  Andrea Espinola Wilson Nonprofits are not exempt from the current labor market shortages associated with the “Great Resignation.” The pandemic, social and political events, and the relentlessness of navigating

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How to Repay Q4 Employee Retention Credit (ERC)

By Cooper Melvin, JD If you received an advance payment of the employee retention credit for the fourth calendar quarter of 2021, you might have to repay the amount received.

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Taxation of Employees’ Personal Use of Company Vehicles Simplified by 2020 and 2021 IRS Regulations and Guidance

Under IRS general rules, all use of a company car is considered personal use unless the employee documents the business use of the car. Personal use of a company vehicle

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Federal 941 Payroll Tax Lookback Procedures

IRS Notice 931, Deposit Requirements for Employment Taxes, lists requirements for depositing payroll taxes such as federal income, social security and Medicare taxes. If your company is currently paying Federal

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