On November 19, 2021, the House of Representatives passed the nearly $2 trillion Build Back Better (BBB) Act. The Act contains many business and tax items of interest that we wanted to share. This bill has not yet passed the Senate (so most likely it will change) but we wanted to share some of the […]
The IRS has released information to help taxpayers plan for tax season 2022 to make their tax filing process easier. To read the recommendations from the IRS, click here.
IRS releases recommendations for tax season 2022 planning Read More »
The IRS recently posted some updates related to the Child Tax Credit/Advance Child Tax Credit Payments. Read more about this topic including updated FAQs in the IRS News Release here.
Child Tax Credit/Advance Child Tax Credit Payments Update Read More »
On November 5, 2021, the House of Representatives passed the more than $1 trillion Infrastructure Investment and Jobs Act (H.R. 3684). The President is planning to sign the bill on Monday November 15, 2021. This new Bill does not contain a lot of tax provisions (the type of items we’re interested in 😃), but one
New Infrastructure Bill terminates 4th quarter ERC Read More »
We are reaching out to share details about changes coming to your BRSW NetClient CS portal. Our firm partners with Thomson Reuters to provide the platform for these portals, and they are updating the sign-in process to make it more secure. What you need to know: • You will continue using your current username and
In 2022 QuickBooks is changing their desktop version to a subscription based platform. This means QB users are going to pay an annual fee to use QuickBooks desktop. We have the option to update clients to QB Desktop 2021 until December 10th. QB will support the 2021 license through May of 2024. If you have
We have had several cases where our clients who received PPP funds have received loan offers after their PPP loans had been forgiven. The list of who received PPP funds is public information, so this makes it possible for companies to find PPP recipient information and offer additional loans. While this information being public could open
We received the following information from the Paulding County Commissioners. For our clients in Paulding County, the Sales and Use Tax rate is decreasing as of October 1, 2021 from 7.25% to 6.75% for the 4th quarter of 2021. The rate will increase back up to 7.25% as of January 1, 2022.
The IRS has specific ways that they communicate with taxpayers. In an effort to avoid scams related to IRS communication, we wanted to share this IRS Tax Tip that gives the specific information on how the IRS communicates with taxpayers. Read the IRS Tax Tip here.
Over the past year, changing rules and shifting guidance became the new normal as the government unleashed a flurry of changes during the COVID pandemic. The employee retention credit is one such area with changes. At first if a business participated in the Paycheck Protection Program (PPP), it was not allowed to claim the employee
