Congratulations, Tim! As of June 30, 2023, Brown Edwards' partner, Tim Gibbons will be officially retired!
Partner Spotlight: Betty Jessee Betty was originally hired as a seasonal employee in January 1997 for the Bristol office and hired on full-time after she completed her seasonal obligation. We...
Treasury, IRS Provide Guidance on Advanced Energy Project Credits The U.S. Department of the Treasury and the Internal Revenue Service released guidance on February 13, 2023, providing taxpayers...
IRS Drastically Expands Electronic Filing Requirement for 2023 Tax and Information Returns The Internal Revenue Service finalized regulations on February 23, 2023, significantly expanding mandatory...
3 Reasons Why Banks Should Lean into Digital Transformation in 2023 During economic slowdowns, IT spend is one of the first areas to be reassessed and dialed back. It is likely that banks, credit...
Virtual Currency Lands in the IRS’s Crosshairs While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched...
The Healthcare Revenue Cycle Optimization Checklist Financial pressures in the healthcare industry are of great concern. According to BDO’s 2023 Healthcare CFO Outlook Survey, financial pressures...
Virginia Switches to Rolling Conformity Beginning With Tax Year 2023 On April 12, following a special one-day reconvene session of the Virginia General Assembly, Gov. Glenn Youngkin signed S.B. 1405...
U.S. Tax Court Rules IRS Lacks Statutory Authority to Assess Penalties for Failure to File Form 5471
U.S. Tax Court Rules IRS Lacks Statutory Authority to Assess Penalties for Failure to File Form 5471 The U.S. Tax Court held on April 3, 2023, in Farhy v. Commissioner, 160 T.C. No. 6 (April 3,...
Maryland Court Strikes Down Digital Ad Tax In a written order issued on October 20, 2022, a Maryland circuit court granted summary judgment against the state of Maryland, ruling that the state’s...