Thanks to the recently enacted Employer Reporting Improvement Act and Paperwork Burden Reduction Act, two key changes will...
ACA Reporting Requirements Revised for 2025
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IRS Announces 2025 Retirement Plan Contribution Limits
The IRS has released the updated contribution limits for retirement plans in 2025. These changes apply to 401(k), IRA,...
IRS 2025 Inflation Adjustments for Tax Provisions
The IRS has released the 2025 inflation adjustment figures for over 60 tax provisions in Revenue Procedure 2024-40. Many...
Salary Threshold Increase Invalidated
A federal judge in Texas invalidated the United States Department of Labor’s (DOL) rule that raised the minimum salary...
Casualty Loss FAQs – Businesses
In the last month, residents of the southeastern United States have faced unprecedented losses in the aftermath of...
Casualty Loss FAQs – Individuals
In the last month, residents of the southeastern United States have faced unprecedented losses in the aftermath of...
Quickbooks Online Changes to 2024 Year-End Tax Forms
by Teresa Adams Starting 2025 for the 2024 year-end, Intuit will no longer be printing and mailing W-2 and 1099 tax forms...
Tax Relief for Those Affected by Tropical Storm Helene
by Stephen Bevins Following Tropical Storm Helene, BCS is here to help our clients and community in any way we can. The IRS...
IRS Tax Relief – Tropical Storm Helene
by Nick Hill The Internal Revenue Service (IRS) has announced disaster tax relief for individuals and businesses impacted...
Current Legislative Changes: Tennessee Franchise Tax
by Nathan Hsiao On Thursday, April 25th, Tennessee legislation passed changes to the franchise tax calculation. Previously,...
New Reporting Under the Corporate Transparency Act
by Nick Hill Effective January 1, 2024, a substantial number of business owners must file a new report as part of the...
Child Labor Act
by Stephen Bevins Everyone remembers their first job as a child, and their first manager. As a manager with a child in...