Office Updates While BPW is categorized as an essential business due to the importance of tax filing and compliance services, our physical office is closed, but we are all successfully working hard remotely to protect you and our staff.  We are in full swing into the 2021 tax season and encourage businesses and individuals to… Read more

The IRS and California Franchise Tax Board recently announced that the income tax filing deadline for individual 2020 tax returns and payments has been extended from April 15, 2021 to May 17, 2021. While this extension provides an additional month to pay any remaining tax liabilities for 2020, BPW will continue to uphold the original April… Read more

The third stimulus package valued at $1.9 trillion made its debut last week after President Biden signed the relief into law on Thursday, March 11, 2021. The American Rescue Plan brings a new wave of stimulus payments, tax credits, and legislative extensions with hopes of reviving the economy after a long-winded recovery. It also delivers… Read more

Many clients have received CP59 Notices notifying them about missing Forms 1040 for the tax year 2019. In all cases we reviewed, the 2019 Forms 1040 were timely e-filed with proof of successful electronic transmission. The IRS has issued statements acknowledging these notices erroneously went out to some taxpayers. If the taxpayer has filed their 2019 tax… Read more

Another pandemic-powered delay is pushing the effective date back for new standards related to audits of financial statements for employee benefit plans (EBP). In July 2019, the American Institute of CPAs (AICPA) Auditing Standards Board (ASB) issued a final new standard, Statement on Auditing Standards No. 136, Forming an Opinion and Reporting on Financial Statements of… Read more