Many of you will remember when the northbound Whitesburg Bridge was replaced in 2006. At the time, traffic was reduced to two lanes on the old steel bridge and people grumbled for months about the inconvenience. Well 14 years later we have a bigger issue with the Folsom-McFarland Highway (Hwy 231). A client said to…

Last week we averaged 57 incoming calls and 67 outgoing calls daily. We scheduled 39 appointments per day on average, which means a lot of you are utilizing our Online Appointment Scheduler. I want to thank you for scheduling online. It helps us more than I can tell you, by freeing up the ladies in…

Highway 231 coming up the mountain from Huntsville to Arab is temporarily closed due to damage from flooding. The normal 21 minute drive from the Wavaho Fuel and Food on Highway 231 at Lacey’s Spring at the foot of the mountain to my office will take 14 to 18 minutes longer with one of these…

The U.S. Department of the Treasury and the Internal Revenue Service today issued proposed regulations updating the federal income tax withholding rules to reflect changes made by the Tax Cuts and Jobs Act (TCJA) and other legislation. In general, the proposed regulations, available now in the Federal Register, are designed to accommodate the redesigned Form…

In 2019, taxpayers who engaged in a transaction involving virtual currency will need to file Schedule 1, Additional Income and Adjustments To Income. The Internal Revenue Code and regulations require taxpayers to maintain records that support the information provided on tax returns. Taxpayers should maintain, for example, records documenting receipts, sales, exchanges or other dispositions…

The Internal Revenue Service has revised Form 1023 to allow electronic filing for the first time starting later this month. To help charities apply for Section 501(c)(3) tax-exempt status, the IRS has revised Form 1023, Application for Recognition of Exemption Under Section 501(c)(3) of the Internal Revenue Code, and its instructions. “Filing electronically reduces errors,…

The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act) became law on December 20, 2019. The Secure Act made major changes to the RMD rules. If you reached the age of 70½ in 2019 the prior rule applies, and you must take your first RMD by April 1, 2020. If you…

We will be closed the week of Christmas and New Years. As we have every year since 1995, our office will be closed for two weeks in order to upgrade software and equipment in preparation for the upcoming Tax Season. If you have an urgent need during this two week period, you can email greg@bara.net.…