Determining if your business is eligible for the Employee Retention Credit can be complex and penalties on unpaid payroll taxes can be substantial if ERC is taken erroneously. The following article from the Association of International Certified Professional Accountants navigates through fact and fiction surrounding eligibility including: • The gross receipts test of calendar quarter […]
BRSW CPAs, with offices in Van Wert, Columbus Grove, and Paulding, is excited to announce the promotion of 3 new owners to the firm: Andrew Bashore, CPA at our Van Wert office, Todd Meyer, CPA at our Columbus Grove office, and Andy Manz, CPA, CITP at our Paulding office. Please join us in congratulating our
Recently, President Biden announced a 3 part plan addressing student loan debt: For those taxpayers earning less than $125,000 a year ($250,000 for married couples): $20,000 in student loan debt forgiveness in the taxpayer went to college on a Pell Grant $10,000 without a Pell Grant. Extension of the pause on student loan repayments (for
Elder fraud and abuse schemes are increasing. We thought this article on the topic was interesting and relevant since elder fraud is so rampant. We encourage you to read the article to help you or a loved one avoid scams. There is good information and helpful tips on this topic in the article. The article
The Internal Revenue Service has posted documentation standards for the Employee Retention Credit (ERC) in its Notice 2021-20, question 70. This is the summarized information the IRS will be looking for if selected for an audit. Documentation proving employer eligibility including paid qualified wages. Forms of documentation include: Government orders suspending business operations Records the
Following intensive work during the past several months, the IRS announced that processing on a key group of individual tax returns filed during 2021 will be completed soon. Read more about the status of IRS processing here.
IRS Continues to Work on Inventory of Tax Returns Read More »
Shelby Aschliman, a CPA in our Paulding office, was recently interviewed on the Paulding County Business Weekly podcast and discussed our firm and the services we provide. Listen to the podcast here.
BRSW Featured on Paulding County Business Weekly Read More »
The Internal Revenue Service recently announced an increase in the optional standard mileage rate for the final 6 months of 2022 in recognition of recent gasoline price increases. For the first 6 months of 2022, the rate has been 58.5 cents per mile. For the period 7/1/22 through 12/31/2022, the new rate will be 62.5
IRS Increases Mileage Rate for the remainder of 2022 Read More »
Recently married, or know someone who was recently married? This article points out some things individuals should do tax-wise after getting married. Read the article here.
The IRS has had significant backlog for quite a while. Recently, the IRS released information on the status of tax return processing (including as of May 6, 2022, it still had 9.8 million unprocessed individual income tax returns). Read more in this article here. The IRS also provided additional information here.
