November Bulletin
Happy Thanksgiving! Our office will be closed on Thursday and Friday, November 28th and 29th, for the Thanksgiving Holiday. At this time of the year, we would like to thank our clients and friends for your support and confidence in our firm and to wish you and your families a happy and safe holiday. IRS […]
DECEMBER CLIENT BULLETIN
December Client Line Holiday Office Hours We will be observing the following office hours during the holiday season: Tuesday, December 24, 2024, the office will close at 12 noon.Wednesday, December 25, 2024, the office will be closed all day.Wednesday January 1, 2025, the office will be closed all day. Merry Christmas and Happy Holidays to […]
BOI reporting mandate may no longer be enforced
A preliminary injunction has been filed on December 3 in a Texas federal district court against the enforcement of the Corporate Transparency Act (CTA) – the Act which mandated most business owners to file the Beneficial Ownership Information (BOI) report for which we’ve previously written about. The original reporting was due 1/1/2025, but the injunction […]
News from the IRS
IRS increases 401(k) limit for 2025 but keeps IRA limit the same The Internal Revenue Service has announced that the amount individuals can contribute to their 401(k) plans in 2025 has increased by $500 to $23,500, up from $23,000 for 2024, as part of its annual cost-of-living adjustments. The catch-up contribution limit that generally applies […]
IRS Urges Taxpayers to Enroll for IP PIN Ahead of 2025 Filing Season
The IRS is encouraging taxpayers to register for an Identity Protection Personal Identification Number (IP PIN) to strengthen their defenses against tax-related identity theft. With the 2025 tax season approaching, the IRS recommended early enrollment to secure a personalized six-digit code that helps prevent fraudulent filings using Social Security or Individual Taxpayer Identification Numbers. Taxpayers can obtain […]
Important Reminder About ERC Credit
Businesses and organizations that received a credit for the 2020 tax year should have filed an amended tax return by March 15 or April 15, 2024, if they filed their returns timely. For credits received for the 2021 tax periods, the deadline for filing is March 15 or April 15, 2025, if they filed their […]
FYI – Client Mail Notification
FYI – Client Mail NotificationTo all our clients and friends that use the US Postal Service to pay invoices and correspond with us, it has been brought to our attention that some of your mail has been sent back to you marked “Return to Sender, Unable to forward by the Post office.” We are still […]
OCTOBER BULLETIN
Dates to Remember BSC NEWS Meredith Myers, CPA We are happy to announce that Meredith Myers (formerly King) recently completed the requirements to become a Certified Public Accountant. She has passed the written Uniform Certified Public Accountant Examination that tests the candidate’s knowledge in: Financial Accounting, Auditing, Business Environment & Concepts and Regulations. She has also […]
SEPTEMBER CLIENT BULLETIN
OFFICE HOURS UPDATE We have returned to our regular business hours of 8:30 AM until 5:00 PM, Monday through Friday. DATE TO REMEMBER – Monday, September 16, 2024 The final date to file 2023 calendar year tax returns for S-Corporations and Partnerships that filed valid extensions. Third quarter estimated tax payments for 2024 calendar year […]
IRS Warns Taxpayers About Scams by Offer in Compromise Mills
The IRS has issued a warning to taxpayers to be cautious of unscrupulous promoters claiming to offer help in resolving unpaid taxes through the IRS Offer in Compromise (OIC) program. These fraudulent entities, often referred to as OIC mills, use aggressive marketing tactics and promise to settle tax debts for “pennies-on-the-dollar,” charging excessive fees with […]
