Throughout 2021, Virginia has enacted several new labor and wage laws that increase employer liability. Construction firms and other employers should look closely at their contracts and other agreements to stay ahead of compliance.
On March 15, 2021, the IRS announced in an e-News Update for Charities & Nonprofits that mandatory electronic filing of 2020 Forms 990-T has commenced.
The Multistate Tax Commission approved new guidance on P.L. 86-272 that specifically addresses internet activities in the new economy.
Rev. Proc. 2021-33 allows exclusion of PPP, restaurant revitalization and shuttered venue operator grants from ERTC gross receipts test.
A bipartisan infrastructure plan passed in the Senate has substantial implications for the construction industry. Project Labor Agreements remain a hot topic in negotiations, especially among construction stakeholders.
PBMares Wealth Management, LLC was recently ranked as a Top 150 CPA Firm by AUM (assets under management) by Accounting Today magazine, the premier publication [...]
North Carolina is on the verge of passing major tax changes affecting corporate, pass-through, and individual taxpayers. If passed, the state's corporate income tax would be eliminated and 250,000 taxpayers would be removed from state tax rolls.
Rising lumber prices aren’t the only numbers that construction firms are closely following. Price surges across many construction inputs are creating supply and demand volatility and concerns of inflation.
Statement on Auditing Standards (SAS) No. 136 is quickly coming up on the employee benefit plan horizon. Plan sponsors should familiarize themselves with the changes so they can be fully compliant for periods after December 15, 2021.
On July 15, 2021, the IRS announced in an Exempt Organization update the electronic filing mandate for Form 990-EZ.