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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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
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If 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
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For 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
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Last 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
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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 years prior to that period.
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By: 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
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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
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One 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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When the Paycheck Protection Program (PPP) was introduced as part of the CARES Act in March, the law provided that any loan forgiveness would not be included in taxable income.
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The IRS released FAQs on Sec 2302 of the CARES Act, Delay of Payment of Employer Payroll Taxes. This provision generally provides that employers may defer the deposit and payment
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Late Thursday afternoon (April 9), the IRS issued News Release 2020-66, in which they announced that Notice 2020-23 extends additional key tax deadlines for individuals and businesses. The notice, which
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