Expectation of Increasing IRS Audits in the Future
Our experience at BMSS over the last three to four years is that we have seen fewer examinations of taxpayers than we did in the…
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Aug 25, 2021
News
Tag: income
Jun 16, 2021
The Advanced 2021 Child Tax Credit
Many of you may have received a letter from the IRS regarding the Advanced 2021 Child Tax Credit. As part of the American Rescue Plan…
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Jun 16, 2021
Treasury’s Green Book Provides Details on the Administration’s Tax Proposals
On Friday, May 28, 2021, the Treasury Department issued the “General Explanations of the Administration’s Fiscal Year 2022 Revenue Proposals.” Also known as the “Green…
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Dec 11, 2019
Tax Planning – What to Consider if You’re in the Construction Industry
(This article is based on our annual year-end tax planning letter but has been modified to include aspects pertaining specifically to the construction industry. For…
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Oct 02, 2018
Qualified Business Income Deduction
The IRS released long-awaited guidance on new Code Sec 199A, commonly known as the “pass-through deduction” or the “qualified business income deduction.” Taxpayers can rely on these…
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