tax - BMSS, LLC

IRS Offers Late Portability Election Relief to Estates

By Dalton Bradshaw, CPA On July 8, 2022, in a taxpayer-friendly move, the IRS announced relief for estates making a late portability election for a deceased spousal unused exclusion (DSUE)

As IRS Woes Continue, What Can You Do?

If you’ve been listening to the news over the past couple of years, you’re aware that the IRS is facing serious challenges. And, while the IRS’ issues cannot solely be

Considerations for the Employee Retention Credit

Created and introduced as part of the CARES Act in 2020, the Employee Retention Credit (Credit) was implemented to encourage employers to keep their employees on the payroll during the

Inflation Reduction Act of 2022

By Dalton Bradshaw, CPA On July 27, 2022, Senate Majority Leader Charles Schumer and Senator Joe Manchin struck a deal to revive a Democratic reconciliation bill. The deal, coined “The

Have You Been Referred to Alliantgroup?

Alliantgroup is a national management and tax consulting firm that works with CPA firms and their business clients to identify and claim federal and state government tax credits. Started approximately

BMSS Presents: A Government Contracting Summit

IRS Dirty Dozen List and Other Audit Triggers

Earlier this year, the IRS released its 2022 Dirty Dozen, the top twelve scams or potentially abusive transactions that could trigger an audit. This list is not exclusive and is

Tax Treatment of Research and Experimental Expenses During 2022

Written by Steven N. Smith, J.D., CPA The 2017 Tax Cuts and Jobs Act (TCJA) is the gift that keeps on giving, continuing to create significant challenges for taxpayers and

Alabama Department of Revenue Opens Window for Making Late Pass-Through Entity Election for 2021

By Ashley G. White, JD, CPA As we have previously reported in our Beyond the Bottom Line newsletters, the Alabama Electing Pass-Through Entity Tax Act (Act 2021-1 and Act 2021-423)

Penalty Abatement for ERC-related Tax

By Cooper Melvin, J.D., CPA It is no secret that the IRS is backlogged with Employee Retention Credit (ERC) filings and has yet to issue refunds to many businesses that

Alabama to Phase Out Minimum Business Privilege Tax Beginning in 2023

By Ashley G. White, JD, CPA Governor Kay Ivey recently signed into law Act No. 2022-252, amending the law regarding the minimum business privilege tax to be paid by small

Understanding Your Buy-Sell Agreement – Part 3

Written by Dalton Hopper, CVA, CFE As mentioned in our previous articles in this series, we discussed what should be outlined in the buy-sell agreement as well as how the

IRS Offers Late Portability Election Relief to Estates

IRS Offers Late Portability Election Relief to Estates

As IRS Woes Continue, What Can You Do?

Considerations for the Employee Retention Credit

Inflation Reduction Act of 2022

Have You Been Referred to Alliantgroup?

BMSS Presents: A Government Contracting Summit

IRS Dirty Dozen List and Other Audit Triggers

Tax Treatment of Research and Experimental Expenses During 2022

Alabama Department of Revenue Opens Window for Making Late Pass-Through Entity Election for 2021

Penalty Abatement for ERC-related Tax

Alabama to Phase Out Minimum Business Privilege Tax Beginning in 2023

Understanding Your Buy-Sell Agreement – Part 3

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