BLS Insights

Category: New Regulations

IRS Eases Schedules K-2 and K-3 Filing Requirements for 2021

March 07, 2022

The IRS has announced additional relief for pass-through entities required to file two new tax forms — Schedules K-2 and K-3 — for the 2021 tax year. Certain domestic partnerships and … Continued

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New Tax Reporting Requirements for Payment Apps

February 15, 2022

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect … Continued

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U.S. House Passed the Build Back Better Act – Waiting for the Senate to Weigh In

November 29, 2021

On November 19, the U.S. House of Representatives passed a crucial part of President Biden’s agenda by a vote of 220-213. While we are waiting for the Senate to vote … Continued

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American Rescue Plan Act – What we know so far

March 19, 2021

On March 11, President Biden signed into law the American Rescue Plan Act of 2021 (ARPA). The $1.9 trillion bill is extensive and we have outlined important details for our … Continued

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