A Better Way to Make Federal and State Tax Payments?
By: Lane Hooper, Dent Moses Staff Accountant Since the pandemic began, the Internal Revenue Service has struggled to process returns, payments and correspondence. See our July 13th post (link here) if you’d like to read more in depth about the current state of affairs at the IRS. If one of our clients experiences an IRS…
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New Funding for Health Care Providers
There are two new funding opportunities available specifically for Health Care providers. Application Deadline: October 26, 2021 at 11:59 pm EST CLICK HERE TO APPLY Combined application for Provider Relief Fund (PRF) Who is eligible? Providers or suppliers who bill Medicare fee for-service (Parts A, B, and C), Medicaid (fee-for-service or managed care) and/or CHIP as…
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House Ways and Means Committee Releases Tax Proposals
On September 13th, the House Ways and Means Committee Chairman Richard Neal released tax proposals included in the $3.3 trillion reconciliation. There is much more work (and negotiation) before it becomes law. However, many of the proposals are more favorable than the Biden Administration’s tax proposals released by the Treasury in May of 2021. Absent…
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James Moody Appointed Chair of the ASCPA
Dent Moses is pleased to announce that James Moody was appointed to serve as Chair of the Alabama Society of Certified Public Accountants (ASCPA) for a one-year term that began in June 2021. The ASCPA is the statewide, professional membership organization representing over 6,000 Alabama CPAs in public practice, industry, government, and education. James has…
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Watch Now: Alabama HB588: Passthrough Entity Election Webinar
Did you miss our webinar on Alabama HB588, or want to watch it again? Watch it now! The Dent Moses team led a thoughtful discussion on Alabama HB588, which was signed by Governor Kay Ivey on May 4, 2021. The law allows Alabama S-Corporations and Partnerships (PTEs) to elect to pay Alabama income tax at the…
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Pass-through Entities Can Now Elect to Pay Alabama Income Tax at the Entity Level
On May 4th, Governor Kay Ivey signed into law HB 588 which, beginning with the 2021 tax year, allows Alabama S-Corporations and Subchapter K entities (pass-through entities or PTEs) to elect to pay Alabama income tax at the entity level. This law has Alabama joining a growing number of states attempting to circumvent some of the…
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Blue Cross Blue Shield Settlement – What Is It And Are You Eligible?
In October of 2020, Blue Cross and Blue Shield (BCBS) companies agreed to a $2.67 billion dollar settlement in a class action suit filed by subscribers in 2012. The plaintiffs allege the defendants violated antitrust laws by entering into an agreement not to compete and to limit competition among themselves in selling health insurance and…
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Huge backlogs and broken printers plague IRS, taxpayer advocate reports
By Katie Lobosco, CNN Washington (CNN) – The Internal Revenue Service still had more than 35 million tax returns to process at the end of this year’s filing season, a backlog four times bigger than at the end of the 2019 filing season. About 23 million of those returns were filed by individuals who may be waiting…
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Biden Administration Proposes Tax Initiatives
The Biden administration recently released a proposed budget for the fiscal year 2022, referred to as the “Green Book”. The budget includes a number of proposals for tax increases along with a series of increased or extended tax credit and incentive programs. Here is a list of some of the proposed changes:
Time to Revisit Paycheck Protection Program Forgiveness
If you have not applied for forgiveness, now is the time and the deadline may be fast approaching.