BLS Insights

Discover the depth of BLS knowledge and information.

Month: March 2015

2015 Brings Single Audit Changes

March 23, 2015

On December 26, 2013, the Office of Management and Budget (OMB) published in the Federal Register Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards; Final Rule.

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Avoiding Underpayment Penalties

March 18, 2015

Have you ever filed your taxes only to find that you do not only owe taxes to the government but are being assessed interest and penalties as well? Taxpayers may incur interest and penalties if they fail to make estimated payments or withhold enough tax to cover their liability for the tax year.

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What Should Your Church Know about Social Security?

March 10, 2015

Social Security and Medicare taxes are collected under the Federal Insurance Contributions Act (FICA) and the Self-Employment Contributions Act (SECA). Many people refer to contributions to Social Security and Medicare as either FICA or SE taxes.

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FAFSA & Section 529 College Savings Plans: The Basics

March 04, 2015

To learn the basics of the Free Application for Federal Student Aid (FAFSA), Section 529 College Savings plans, and how they work together, read on.

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