Recent News

Package of Tax Provisions?

With the prospects of a comprehensive U.S. tax legislative package unlikely, one possible path for Congress is the consideration of smaller, more targeted pieces of legislation. One possibility of such targeted

Significant Amendment to the Alabama Accountability Act

Written by Steve Smith, JD, CPA On April 14th, Governor Ivey signed Senate Bill 261 (SB261) into law, raising the current cap on contributions under the Alabama Accountability Act (AAA).

Fraud in the Workplace, Can You Spot the Warning Signs?

Written by Dalton Hopper, CFE, CVA Recently, the American Institute of Certified Public Accountants (AICPA) FLS Fraud Task Force released its Eye on Fraud. This publication discusses some of the

Tax Considerations for Private Equity Funds and Investors

Written by Jeff Bilsky and Verenda Graham. The federal income tax rules that apply to private equity funds and investors have been the subject of much debate, mainly due to

2022 Alabama Unemployment Tax Rate Notices

What’s happening? The Alabama Department of Revenue has started releasing 2022 Tax Rate Notices. Alabama no longer mails paper copies of these notices, so employers who are subject to Alabama

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

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

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

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

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

Update on Electing Pass-Through Entities in Alabama

We have been closely following developments on Electing Pass-Through Entities in Alabama and providing updates to you as they become available. These updates have included direct communications to our clients

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