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You Can Now Potentially Withdraw Your ERC Claim

Written by Sarah Shirley Earlier this fall, the IRS issued a moratorium on the processing of any new Employee Retention Credit (ERC) claims through at least the end of the

IRS Commits to Ramp Up Partnership Audits

By: Cooper Melvin, CPA, JD In September 2023, the IRS announced a special subdivision of the Large Business and International Division will be dedicated to pass-through entity audits. Partnerships have

Preparing for W-2 and 1099 Season

The holidays are around the corner, and before you know it, January 2024 will be here! Let’s take a look at what you can do now to make the preparations

BMSS Legacy Continues Fall Serve Day Initiative

Throughout the fall of 2023, employees from BMSS Advisors & CPAs’ Family of Companies participated in the annual serve days, continuing a long-standing tradition of partnering with local charitable organizations.

99% of the S&P 500 is Reporting on ESG and 65% are Obtaining ESG Assurance

ESG* Reporting Is on the Rise Despite the blowback against ESG in politics and in the media, companies are actively engaged in sustainability and ESG reporting. That’s because investors are

Your Alabama Tax License Renewal is Due December 31, 2023

Beginning November 1, 2020 and going forward, taxpayers are required to renew the State of Alabama Tax License annually. 2024 License Renewal Due Date: 12/31/2023 The My Alabama Taxes (MAT)

Proposed Salary Threshold Changes for FLSA Exemption Status

Written by Rebecca Tipton, SHRM-SCP BMSS HR Advisory Putting the “Resource” in Human Resource Consulting As those familiar with the Fair Labor Standards Act will know, designating an employee as

EEO-1 Data Collection Window for 2022 Approaching

Written by Rebecca Tipton, SHRM-SCP BMSS HR Advisory Putting the “Resource” in Human Resource Consulting After many recent delays, the EEO-1 Data Collection Window is due to open on October

Think Beyond Stocks and Bonds

An Introduction to Multi-Asset Investing By Daniel Phillips, CFA®, CFP® All investment decisions have an opportunity cost. There is always an alternative that could have yielded a different outcome. And

Alabama Sales Tax Rate Reduction on Food Effective as of September 1, 2023

Alabama recently updated the state-level sales tax rate on food, reducing it from 4% to 3%, effective September 1, 2023. This does not affect local jurisdiction rates such as city

Attention: Update to Business Personal Property Tax Filing Process

Beginning October 1, 2023, the OPPAL system will be a component of My Alabama Taxes to electronically file your business personal property return. If you (or BMSS on your behalf)

IRS Halts Processing of New ERC Claims Until January 2024

In a news release yesterday, the IRS issued a moratorium on the processing of any new Employee Retention Credit (ERC) claims through at least the end of the year, citing

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BMSS Legacy Continues Fall Serve Day Initiative

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