BLS Insights

Category: Tax

COVID-19 Update: Business Provisions of the CARES Act

March 26, 2020

Business Provisions of the Keeping Workers Paid and Employed, Health Care System Enhancement and Economic Stabilization Section – What You Need to Know Now As we mentioned in our last … Continued

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COVID-19 Update: Individual Taxpayer Provisions of the CARES Act

March 26, 2020

Individual Taxpayer Provisions of the Keeping Workers Paid and Employed, Health Care System Enhancement and Economic Stabilization Section – What You Need to Know Now We usually don’t see two major … Continued

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COVID-19 Tax Update: Families First Coronavirus Response Act

March 20, 2020

With non-essential type businesses shutting down (either voluntarily or state-ordered), business owners are worried and wondering whether they will be able to pay their bills and if they need (and … Continued

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COVID-19 Tax Relief: Extension to File

March 20, 2020

Posted by Jordon N. Rosen, CPA, AEP The BLS Team is actively monitoring the rapidly developing changes related to COVID-19 and will continue to provide updates as they apply to our … Continued

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COVID-19 Tax Relief: Extension to Pay

March 19, 2020

I thought I had seen it all after 42 years in practice. I was wrong. The events surrounding the Coronavirus pandemic that have changed our daily lives for the foreseeable … Continued

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Delaware, Maryland, and Pennsylvania Division of Revenue Alerts

March 16, 2020

As of March 16, 2020, the Delaware, Maryland, and Pennsylvania Division of Revenue posted the following alerts: Delaware: The Delaware Division of Revenue has issued an announcement that while the … Continued

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IRS Repeals “Parking Lot Tax” on Nonprofit Employers

January 29, 2020

When the IRS signed the Tax Cuts and Jobs Act (TCJA) into law in December 2017, there were certain provisions directly affecting nonprofit organizations. The most widely debated topic of … Continued

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Are Qualified Charitable Distributions an Underused Tax Planning Tool?

December 11, 2019

Although Congress incentivizes individuals to save for retirement by allowing various tax-free savings vehicles, they do eventually require taxpayers to dig into their nest eggs. When taxpayers reach age 70 … Continued

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Reasonable Compensation for S-Corporation Shareholders

November 25, 2019

For S-Corporation owners, complex regulatory environments and constantly changing tax laws make deciding upon the correct method and amount to pay yourself a burdensome endeavor. S-Corporation owners have an incentive … Continued

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Form 1099 and W-9 Reporting Requirements

September 19, 2019

Due to increased enforcement and related assessment of penalties for failing to timely and accurately file Forms 1099, we felt it was important to share the following requirement and due … Continued

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