PRF and ARP Reporting Changes: Preparing for 2023
Provider Relief Funds (PRF) were provided to healthcare providers to address issues with lost revenues and increased expenses related to the COVID-19 pandemic. By providing these funds, the government attempted…
Benefits and Other Impacts in the Inflation Reduction Act for Nonprofits
After almost a year of negotiations, President Biden signed the Inflation Reduction Act (IRA) of 2022 into law on August 16. The law, which originated in 2021 as the much…
Client Alert: State Passthrough Tax
The purpose of this memo is to alert you to a tax issue which has penalized you since 2018, and an opportunity to mitigate this – new for 2022. After…
Retirement Plans – Meeting Your Fiduciary Responsibilities
Offering a retirement plan can be one of the most challenging, yet rewarding, decisions an employer can make. Employees, their beneficiaries, and the employer can benefit when a retirement plan…
IRS Warns About Fraudulent and Improper Employee Retention Credit “Help”
The IRS has recently issued a warning to employers to be suspicious of third parties advising on claiming the Employee Retention Credit (ERC). Some third parties are reaching out to…
Fourth Quarter Estimated Tax Payments Extended
Fourth Quarter Estimated tax payments for residents of certain states affected by Hurricane Ian for 2022 are due February 15, 2023, not January 15, 2023 On October 5, 2022, due…
The Inflation Reduction Act Targets Energy Efficiency Improvements
The Inflation Reduction Act (IRA) was signed into law on August 16, 2022. The provisions included in this law address a wide range of financial efforts targeted at reducing the…
Provider Relief Funds: Need-to-Know Reporting Deadlines
In total, COVID-19 funding provided $178 billion in Provider Relief Funds (PRF). That money was specifically designated for healthcare organizations and providers. Health Resources and Services (HRSA) administered the funds…
5 Advantages of a Compliance Management System
With ever-increasing regulatory requirements, the compliance demands on business organizations of all sizes are growing at a staggering rate. Despite the new administration’s efforts to dial back regulatory constraints on…
A Quick Summary of the Inflation Reduction Act
The Inflation Reduction Act (IRA) of 2022 impacts a wide variety of areas, from climate to health care. While several areas are covered, there are two main goals. First, the…
Tax Savings for Energy-Efficient Commercial Buildings in the Inflation Reduction Act
The Inflation Reduction Act (IRA) of 2022 provides massive amounts of incentives for clean energy, zero-emissions vehicles, energy-efficient buildings, and other “green” technologies. One such provision amends the energy-efficient commercial…
Best Practices in Business Budgeting and Forecasting
DMJPS explains how annual business budgeting and forecasting can create a solid path for growth and cost management.