BLS Insights

President Biden has released his proposed budget for the 2025 fiscal year, which includes numerous tax provisions affecting businesses and individual taxpayers. While most of these provisions have little chance … Continued

Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the Employee Retention Tax Credit (ERTC). Most … Continued

Enjoy our latest BLS Video Update where Karly Laughlin, CPA, AEP and Mike Kelly, CPA discuss Corporate Transparency Act, SECURE 2.0 and more! Topics include General Updates with Karly Laughlin, CPA, … Continued

Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule change that went into effect … Continued

  Delaware employers who meet either of the below criteria should be aware of the upcoming January 1, 2024, deadline. Please contact the Delaware Department of Labor or your HR … Continued

For the second consecutive year, the IRS has postponed the implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment … Continued

*Updated 11/30/2023 based on the final ruling from FinCEN.* *Clarified penalty information 1/25/2024* The Corporate Transparency Act (CTA) was enacted into law as part of the National Defense Act for … Continued

The IRS recently issued its 2024 cost-of-living adjustments for more than 60 tax provisions. With inflation moderating slightly this year over last, many amounts will increase over 2023 amounts but … Continued

Recent IRS warnings and announcements regarding the Employee Retention Tax Credit (ERTC) have raised some businesses’ concerns about the validity of their claims for this valuable, but complex, pandemic-related credit … Continued

On May 11, 2022, the Healthy Delaware Families Act was signed into law, creating a Delaware Paid Family and Medical Leave Insurance Program (PFML). The PFML Program offers paid leave … Continued