The Bipartisan Budget Act of 2015 (BBA) created a new centralized partnership audit regime effective for taxable years beginning on or after January 1, 2018. Under IRC Section 6223(a) partnerships that can’t (or can, but don’t) elect out of the…
Many taxpayers (and accountants) are astonished by the errors in the Tax Cuts and Jobs Act (TCJA) and find themselves wondering when legislative fixes will be put in place. Adding to the frustration is Congress’ failure to pass the traditional…
The Trump administration released its long-awaited overtime rules to update the overtime exemptions for so-called white-collar workers under the Fair Labor Standards Act. The rule increases the minimum weekly standard salary level for both regular workers and highly compensated employees…
A startling report by the EBPAQC (Employee Benefit Plan Audit Quality Center) found deficiencies in 39% of the 400 audits reviewed by the Department of Labor (DOL), highlighting the importance of selecting a qualified employee benefit plan auditor. The more…
Cybercriminals are ready to pounce on unsuspecting taxpayers with more creative scams and digital traps. With the frenzy of online tax filings and personal information flooding the internet, digital crooks are eager to get their own version of big illegal…
Promotions in the Mize Restaurant Group, which provides restaurant accounting and consulting services to independent and quick service restaurants nationwide, include: Tyler Beiker, CPA is promoted to QSR Accounting Services Associate Manager. Tyler provides accounting services to McDonald’s Owner/Operators and…
The Tax Cuts and Jobs Act of 2017 significantly reduced the ability of a business to deduct the cost of transportation fringe benefits provided to their employees, unless the annual cost of the benefit is included in taxable wages on…
Federal government employees aren’t the only ones shouldering an extra load during the federal government shutdown. Employers are taking on the burden of trying to keep track of Forms I-9 that need to be completed or updated despite no access…
An update on our previously posted article... The Internal Revenue Service has announced it will issue refunds to taxpayers even if the federal government shutdown extends into tax season. In previous shutdown situations, the IRS accepted tax returns but delayed…
If you’ve been around the business world in the last 20 years, the topic of mismatch notices may be familiar to you. A quick search on “Google” and you will find other instances when the Social Security Administration (SSA) announced…