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…
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Nov 29, 2023
News
Tag: credit
Aug 18, 2023
IRS Increases Oversight of ERC Program
Last week, the IRS issued an important news release, IR-2023-135 (click green link to read full release), announcing their heightened scrutiny of claims for the…
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Dec 12, 2022
BMSS’ 2022 Year-End Tax Planning Letter
As 2022 comes to a close, all eyes are on the midterm elections and potential year-end tax legislation and, as always, it is important to…
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Oct 19, 2022
ERC Sharks Continue to Strike
By Cooper Melvin, J.D., CPA In a news release today, the IRS warned employers to be wary of third parties who are advising them to…
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Sep 07, 2022
Considerations for the Employee Retention Credit
Created and introduced as part of the CARES Act in 2020, the Employee Retention Credit (Credit) was implemented to encourage employers to keep their employees…
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Jun 23, 2022
Penalty Abatement for ERC-related Tax
By Cooper Melvin, J.D., CPA It is no secret that the IRS is backlogged with Employee Retention Credit (ERC) filings and has yet to issue…
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Apr 20, 2022
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…
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Feb 23, 2022
The IRS’ Ever-Growing Backlog and Suspension of Selected Automated Notices
By Dalton Bradshaw, CPA In our Beyond the Bottom Line Newsletter on January, 26, 2022, we summarized the annual report of the Taxpayer Advocate Service…
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Jan 25, 2022
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…
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Dec 29, 2021
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…
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