Tax Alerts

Tax Briefing(s)

Middle Class Tax Relief and Job Creation Act of 2012

2011 Tax Year In Review

2012 tax season ends quietly
The 2011 filing season ended quietly, apart from a few IRS reminders and last-minute tips issued just before the April 17 deadline. Practitioners generally agreed with the government’s assess...

GAO reports confusion over foreign account reporting under FATCA and FBAR
The U.S. government has been tightening its scrutiny of taxpayers who use foreign financial accounts to circumvent U.S. tax law. Last year the Treasury department imposed new requirements on taxpay...

IRS Commissioner reviews priorities/accomplishments; will step down in September
IRS Commissioner Shulman recently announced he plans to leave his position when his five-year term ends in September 2012. Speaking before the National Press Club this past April, ...

IRS eases up on local lodging deduction for employees
The IRS has issued proposed “reliance” regulations that allow an employee’s deduction for local lodging that is business-related. Although the proposed regulation...

IRS releases updated collection financial standards for ability-to-pay
The IRS has released its Collection Financial Standards for 2012. The Collection Financial Standards specify the amounts that taxpayers may claim as basic, necessary living expenses when they claim...

DC - All retirement account distributions taxed at highest rate
Emergency legislation enacted by the District of Columbia amends the income withholding tax rules for retirement distributions. A distribution from a retirement account will be tax...

MD - Combined reporting legislation introduced
A bill has been introduced in the Maryland House of Delegates that would require mandatory unitary combined reporting for corporate income tax under certain circumstances. If enact...

VA - IRC conformity legislation enacted
For personal income and corporate income tax purposes, Virginia has advanced the Internal Revenue Code (IRC) conformity date from December 31, 2010, to December 31, 2011. Therefore...

Burdette Smith & Bish LLC is a regional accounting firm based in Fairfax, Virginia. Our team of CPAs specializes in accounting and tax engagements for businesses and individuals. While most of our clients are based in the Washington, DC metropolitan area, many have business interests throughout the world. Our mission is to provide expert, customer-oriented accounting based on trust, commitment and service; our goal is to be your CPA of choice.

TRUST

The relationship between Burdette Smith & Bish LLC and our clients is built on trust. Realizing that trust must be earned, we pledge to conduct our practice in conformance with not only our industry’s high ethical standards, but also the higher standards you demand. The Golden Rule is more than just a slogan at Burdette Smith & Bish.

COMMITMENT

Commitment to you, to our profession and to doing the job right is a pledge we make unconditionally. We commit that the work we perform on your behalf will be accurate, timely, and in accordance with your needs. It will be the product of our best effort, based on superior training, education, and the Burdette Smith & Bish LLC process of review. We commit that all client materials entrusted to our care will be subject to strict confidentiality standards.

SERVICE

Service at Burdette Smith & Bish LLC means being available when you need us, being familiar with your industry, and anticipating your needs. Service means partnering with you, addressing your needs, and providing the advice and product you need to achieve success.