PA Annual Report Filing Scam
PA Annual Report Filing Scam We have recently been made aware of business owners receiving mailings entitled “PENNSYLANIA ANNUAL REPORT”. These letters are being sent from a company calling itself “New Business Filing LLC”. The form instructs Pennsylvania businesses: “To avoid administrative dissolution or revocation in the future, file your 2025 Annual Report online at Busfile.org/2025” or “scan […]
1099 Reporting
Reminder for ALL business owners – the due date to file Form 1099-NEC is January 31, 2025. 1099-NEC’s MUST be prepared and furnished to any non-incorporated vendor who rendered services in 2024 totaling $600 or more. If you would like BSC’s assistance with preparation, please provide the following information to us as soon as possible […]
Press Release
Baum, Smith & Clemens, LLP is pleased to announce that Jennifer L. Landis, CPA has been named Co-Managing Partner of the Harleysville based Certified Public Accounting and Business Advisory Firm as of January 1, 2025. Jennifer will join current Managing Partner Gary T. Schultz, CPA to oversee the firms’ overall operations and direction. This transition […]
BOI REPORTING UPDATE
Over the last few weeks, the Beneficial Ownership Information (BOI) Reporting enforcement was temporarily halted, reinstated and then halted again. The courts have settled on a decision to schedule an appeal hearing for the BOI Reporting requirement for March 25th, 2025. At this time, we will not speculate on the anticipated outcome of this hearing, […]
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 […]
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 […]
Weaver, Reckner & Reinhart Dental Associates
Our BSC Family extends a “Pearly White” congratulations to our client, Weaver, Reckner & Reinhart Dental Associates. Formed thirty years ago when Dr. Todd Weaver and Dr. John Reckner joined their practices and opened an office in Souderton. WRR began as a two-person operation and has grown to support 75 employees, six doctors and two locations. […]
ERC New Voluntary Disclosure Program
As part of an ongoing initiative aimed at combating dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service has launched a new Voluntary Disclosure Program to help businesses who want to pay back the money they received after filing ERC claims in error. The new disclosure program, which has been in the works for […]
Retiring Partners
2023 was a very special year for our Firm. In January we were proud to announce our 50th Anniversary of being in business, an achievement that is not as easy as it may seem to be. Throughout the year, we invited many of our clients and friends to help us recognize this milestone culminating with an […]
