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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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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

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

PPP Update for Schedule C Filers

The SBA announced changes late on March 3rd to the PPP in the attached interim final rule that can impact schedule C filers. These borrowers may now receive, on new