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

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Reasons to Consider Extending Your Tax Return

Written by Drew Nicol, CPA Tax season is upon us once again. Many taxpayers have begun closing out year-end books and started gathering documents in order to prepare for the

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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

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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

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How the Advance Child Tax Credit May Reduce Your Refund or Increase Your Amount Due

By Ashley G. White, JD, CPA For those of you who make up part of the millions of families who received up to half of their child tax credit via

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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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Advance Child Tax Credit Update and Bipartisan Infrastructure

In the last Beyond the Bottom Line newsletter, BMSS briefly discussed the Advance Child Tax Credit under the American Rescue Plan enacted in March 2021. The IRS will pay half

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