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BMSS Manager Testifies Before the IRS on Behalf of the NACVA

Written by Dalton Hopper, CFE, CVA, ABV Recently, I had the opportunity to testify before the IRS in Washington, D.C. as a Standards Board member of the National Association of

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A Cloudy Sunset – TCJA Set To Expire in 2026

Written by Russell Goodman Uncertainty looming in Washington has CPAs and taxpayers across the country wondering the same thing.  What will happen if the Tax Cuts and Jobs Act (TCJA)

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When State or Local Minimum Wage Requirements Exceed Federal Prevailing Wages—Are Government Contractors Entitled to Reimbursement Through the REA Process?

The Civilian Board of Contract Appeals (“CBCA”) decided April 23, 2024 against a federal services contractor seeking compensatory relief through a request for equitable adjustment (“REA”) for increased costs arising

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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

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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

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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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Maximize Your Tax Savings and Make a Positive Impact: Work Opportunity Tax Credit

Written by Sarah Shirley Ever since the world seemingly stopped during the COVID-19 pandemic, people everywhere have started placing greater importance on making a positive impact in the world and

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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 Employee Retention Credit (ERC) with

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New Tax Tools for Giving: IRA Charity Rollover Gift Annuity

By: Cooper Melvin, CPA, JD In late 2022, Congress authorized a new tool to lower Required Minimum Distributions (“RMDs”) and increase charitable giving. Effective as of now, taxpayers over age

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The Difference One Word Makes

Written by Dalton Hopper, CFE, CVA There are few situations in which one word can make all the difference. In this example, we’re examining the difference between fair market value

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Reporting a Change in Responsible Party: What It Means for Your Tax-exempt Organization

Written by Whitney Roberson, CPA IRS regulations require any entity with an EIN to update responsible party information within 60 days of any change by using Form 8822-B. You may

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Potential Tax Benefits of Distributions in 2023 for Trusts and Estates

By Dalton Bradshaw, CPA As the 2023 filing season has arrived, taxpayers may be considering options to reduce their tax liabilities. Due to the compressed tax brackets for trusts and

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