Visit this page for important and timely alerts, developments, and updates from the IRS and Treasury Department that businesses and individuals may need to prepare for.
Employee Retention Credit Processing Halted by the IRS Amid Widespread Fraud
On September 14 2023, the IRS halted all new employee retention credit claims to combat rampant tax fraud. If a business has an open ERC refund claim, they are strongly encouraged to evaluate their eligibility with a professional tax advisor.
What Small Businesses Need to Know about the Beneficial Ownership Information Report
Starting on January 1, 2024, millions of small businesses will be required to file a new information reporting form as part of the Corporate Transparency Act. Many PBMares clients will be affected.
IRS Provides Tax Relief and Extension for South Carolina and Florida Taxpayers Impacted by Hurricane Idalia
IRS announces new Hurricane Idalia tax relief and a new February 15, 2024 tax deadline for all individuals and businesses in South Carolina.
Beneficial Ownership Information (BOI) Report
October 3, 2023
Starting on January 1, 2024, millions of entities will be subject to new reporting requirements. The Beneficial Ownership Information (BOI) Report is a non-tax form that entities must file with the Department of Treasury’s Financial Crimes Enforcement Network, or FinCEN.