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
Read MoreBy 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
Read MoreBy Steven N. Smith, CPA, JD Initially, the employee retention credit (ERC), enacted by the CARES Act, was not available to paycheck protection program (PPP) borrowers. The passage of the
Read MoreBy Dalton Bradshaw, CPA In our Beyond the Bottom Line Newsletter on January, 26, 2022, we summarized the annual report of the Taxpayer Advocate Service to Congress. The report noted
Read MoreIn 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
Read MoreBy 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
Read MoreIf you have created an online account with the IRS and have not signed in recently, you will notice some changes the next time you access your account. The IRS
Read MoreFor our clients and friends operating as business entities taxed as partnerships, we want to bring a few matters for your attention, including: IRS launches large partnership audits, Periodic reviews
Read MoreLast month the IRS released a revised Publication 5319, the Large Business and International (LB&I) Focus Guide for fiscal year 2022. In recent editions of Beyond the Bottom Line, we
Read MoreOur experience at BMSS over the last three to four years is that we have seen fewer examinations of taxpayers than we did in the years prior to that period.
Read MoreBy: Cooper Melvin J.D., Staff Accountant Recent news has brought a focus on employer-provided fringe benefits and the consequences to employees and businesses if accounting is improper. Compliance with accounting
Read MoreIn 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
Read MoreOne week ago, President Biden outlined a massive $2 trillion infrastructure proposal to address some of the issues that his administration consider to be the country’s most pressing problems, including
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