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Update on the Infrastructure Investment and Jobs Act
By Dalton Bradshaw, CPA After months of debates and concessions, the Infrastructure Investment and Jobs Act (the “Act”) was passed by Congress on November 5, 2021. On Monday of this
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Your Alabama Tax License Renewal is Due December 31, 2021
Beginning November 1, 2020, taxpayers are required to renew their State of Alabama Tax License on an annual basis. 2022 License Renewal Due Date: 12/31/2021 The My Alabama Taxes (MAT)
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BMSS Presents: Year-End Tax Planning Webinar
Please join us as we discuss tax planning strategies for you to consider as the end of 2021 approaches. Through our membership in the BDO Alliance USA, we are very
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Are You Taxed As a Partnership? Matters for You to Consider
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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Business Personal Property Tax Reminder
It’s time for Business Personal Property Tax Returns! Keep an eye on your mail for the 2022 tax year return from your county, and your OPPAL pin for online filing.
Read More Your Alabama Unclaimed Property Report is Due November 1, 2021
If your company or organization holds unclaimed property with situs in Alabama, you must file an annual report with the State of Alabama Treasurer’s Office. This report covers property that is
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IRS Program for Auditing Large Partnerships to Begin Soon
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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The Importance of Retaining Tax Records
By: Cooper Melvin, J.D. We discussed in a recent Beyond the Bottom Line that the Biden administration’s tax plans include significant funding increases for the IRS. Therefore, in the coming
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Business Personal Property Tax (Ad Valorem) – Looking Forward
Business Personal Property Tax Return deadlines are quickly approaching! Take a look below at some of the things to consider in the coming weeks. What is the Business Personal Property
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Update on the Biden Administration’s Tax Proposals
By Cooper Melvin, J.D. In June, we provided a summary of the Green Book proposals, a glimpse into the Biden administration’s tax plan. On Monday, House Committee members made a
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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 years prior to that period.
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Update on Infrastructure Legislation and Budget Blueprint
In last week’s Beyond the Bottom Line, we presented an overview of the Infrastructure Investment and Jobs Act. The bill passed the Senate yesterday in a 69-30 vote and now
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