Each year, the Internal Revenue Service assesses millions of tax penalties against individuals and businesses. If you have received an IRS penalty notice, you are not alone. In 2019, the IRS sent over 40 million penalty notices and assessed over 40 billion dollars in penalties. More than 60 percent of these penalty notices involved just two offenses: delinquency (failure-to-file) and failure-to-pay.
Bennett Thrasher is proud to announce its recognition in three categories of the Daily Report’s Best of 2020 Reader Survey. The firm was voted as the winner for Best Full-Service Accounting Firm and Best Business Accounting Firm and was one of the top three firms selected as a Best Forensic Accounting Firm.
There is no disputing that the intent of the Coronavirus Aid, Relief and Economic Securities (CARES) Act of 2020 is to provide immediate and tangible economic relief to American workers, families and small businesses. What has been less clear since its passage in March 2020 is how the acceptance of funds available through various CARES Act programs could impact single audit requirements.
Bennett Thrasher, one of the largest full-service public accounting and consulting firms in the country, has been named an INSIDE Public Accounting Best of the Best Firm for 2020. These top performers within the profession are ranked on more than 50 metrics. Best of the Best firms produce superior financial results while planning for long-term, sustainable growth.
Like all business operations, the COVID-19 pandemic is changing how nonprofit organizations execute their fundraising activities. No one knows how long the crisis will last, and these organizations can’t afford to take a break from fundraising. Staying connected to donors is critical to nonprofits and their ability to achieve their mission.
Bennett Thrasher Technology Services, a premier provider of managed IT services, is proud to share that it is now providing all clients with next-generation, multi-layered endpoint protection and access to a 24/7 security operations team.
As the coronavirus pandemic began spreading in earnest throughout the U.S. in early 2020, businesses in every industry found themselves impacted to various degrees. Some, like restaurants, airlines and event venues, experienced severe negative effects. Others, like construction, felt minor impacts early on. As the pandemic shows no sign of easing though, it’s becoming apparent that things could get troublesome in the months ahead.
On August 28, 2020 the IRS issued Notice 2020-65, providing much-anticipated guidance implementing an August 8 Presidential Memorandum directing the Treasury to use its authority to defer the withholding, deposit and payment of certain payroll tax obligations.
The coronavirus pandemic has altered the business landscape and given business owners a new perspective on the most effective and strategic ways to operate their company. While some businesses have excelled by pivoting and incorporating new technologies, others have experienced extreme disruptions, causing their business to shutter.
On June 12, 2020, the United States (“U.S.”) Secretary of Treasury issued a statement (“Statement”) requesting that the Organization for Economic Co-operation and Development (“OECD”) pause international discussions designed to address the tax challenges facing the rapidly digitalized economy.
2020 has been a year of unprecedented uncertainty for many individuals and businesses, with the coronavirus pandemic wreaking havoc on the economy, financial markets, industry segments, financial prospects for individual companies and the valuations of asset holdings. More change could be coming this fall, with an election, the prospect of a new administration on the horizon and the uncertainty of future economic conditions.
Bennett Thrasher is proud to announce that it has been named to INSIDE Public Accounting’s 2020 IPA Top 100 Firms, ranking 72nd on the list of largest accounting firms in the U.S.