Notice of Annual Renewal of Alabama Tax Licenses

Good Morning, The Alabama Department of Revenue recently announced that beginning November 1, 2020, taxpayers will be required to renew the State of Alabama Tax License annually. The annual license renewal applies to these tax types: Sales Tax Rental Tax Sellers Use Tax Lodgings Tax Utility Gross Receipts Tax Simplified Sellers Use Tax Renewals can be obtained on The My Alabama Taxes (MAT) website. Taxpayers will need to verify and/or update business information in order to generate a new license. This includes: Current legal name Owner/officer/member information Phone Number Social security number/FEIN Location addresses for each location Taxpayers will also need to ...

Alabama Department of Revenue Announces Tax Relief for Hurricane Sally Victims

Good Evening, The Alabama Department of Revenue has announced it is offering tax relief to Alabama taxpayers who reside or have a business in Baldwin, Escambia, or Mobile Counties and have been affected by damage caused by Hurricane Sally. The tax relief mirrors IRS measures previously announced for these areas. Filing extensions will be granted until January 15, 2021 for returns due on or after September 15, 2020 and before January 15, 2021. Taxpayers affected by Hurricane Sally may request penalty relief when the tax return is ultimately filed; however, the tax and interest amounts are required to be paid prior ...

IRS Announces Tax Relief for Hurricane Sally Victims

Good Morning, The IRS has announced that victims of Hurricane Sally now have until January 15, 2021, to file various individual and business returns and make tax payments. Individuals and households who reside or have a business in Baldwin, Escambia, and Mobile Counties in Alabama will qualify for this relief. Any localities subsequently added to the disaster declaration will also receive the same relief. The declaration includes deadlines falling on or after September 14, 2020, and before January 15, 2021, and includes individual and business tax filers that had valid extensions until October 15, 2020, to file their 2019 returns. ...

Due to Hurricane Sally Personal Casualty Losses of Individuals are Potentially Deductible

Good Morning, We sure hope you and your family weathered Hurricane Sally with minimal damage to your property and that you remain safe from any physical harm during this recovery phase. With the extent of damage sustained in our area, many of you may have questions about losses incurred on your property due to the storm. Personal casualty losses of individuals are potentially deductible if attributable to a federally declared disaster. FEMA has announced that due to Hurricane Sally, a major disaster exists in Baldwin, Escambia, and Mobile counties in Alabama. Counties in Florida have not yet been declared. For ...

RTBH is Hiring: Experienced Accountants Please Apply

We are actively seeking an experienced accountant for a permanent full-time position, and we would like to hear from you.  Below please find our job description.  Email us at info@rtbh.com to send your resume and to apply. Responsibilities and Opportunities: Preparation and review tax returns Participate in compilation, review and audit engagements Financial statement preparation Assist with special projects and consulting engagements Exposure to a wide variety of businesses and organizations across many industries Opportunity to work closely with Managers and Partners along with Clients Minimal travel, if any Advancement is available based on performance Minimum Requirements: Bachelor’s degree CPA ...

Payroll Tax Deferral – Additional Guidance Needed

Good Afternoon, Recently, President Trump issued a Memorandum (click here) for the Secretary of the Treasury ordering a deferral of payroll tax obligations in light of the ongoing COVID-19 Disaster. The Memorandum calls for a deferral of an employee’s share of Social Security taxes (6.2% of wages up to $137,700) on wages below $4,000 per biweekly payroll (the annual equivalent of $104,000). The deferral does not apply to the employee’s share of Medicare taxes (1.45% of wages), Additional Medicare taxes (0.9% of wages over certain thresholds), Income tax withholdings, nor does it apply to the employer’s matching Payroll taxes. The deferral will be ...

RTBH Promotes Morgan McDaniel, CPA to Senior Accountant

The Partners of RTBH are pleased to announce the promotion of Morgan McDaniel, CPA to Senior Accountant. Morgan is a 2017 graduate of the University of South Alabama. She holds a Bachelor of Science in Business Administration with a concentration in accounting. While she has a wide range of practice areas including both tax and audit work, Morgan’s unique focuses include insurance companies and physicians groups. View Bio

Andrea Justiniano Forte Joins RTBH as an Accounting Technician

RTBH welcomes Andrea to the team as our Accounting Technician. She supports our CPAs and clients by providing bookkeeping services, payroll solution services, and assisting clients with their tax deposits and tax estimates. Andrea is a graduate of the University of South Alabama. Andrea holds a bachelor’s degree in Business Administration with a concentration in Finance and a Master’s in Business Administration. View Bio

PPP Loan Update and July 15, 2020 Deadline Reminders

Good Morning, Please see below for a PPP Loan update and reminders about the upcoming tax deadline. Revised PPP Loan Forgiveness Application The SBA recently issued revised Paycheck Protection Program (PPP) Loan Forgiveness Applications to reflect recent favorable changes to the forgiveness calculation. These applications and instructions are accessible below: PPP Loan Forgiveness Application PPP Loan Forgiveness Instructions PPP Loan Forgiveness EZ Application PPP Loan Forgiveness EZ Instructions The EZ Application is available if the borrower meets any one of the following: Borrower is a self-employed individual, independent contractor, or sole proprietor who had no employees at the time of the ...

PPP Update: Revisions to Previous Guidance

Last night, Wednesday June 10, 2020, the SBA issued revisions regarding the Payroll Protection Program (PPP) Loans, including the following: Maturity date For loans made before June 5, 2020, the maturity is two years; however, borrowers and lenders may mutually agree to extend the maturity to five years For loans made on or after June 5, 2020, the maturity is five years Deferral period If a borrower submits to its lender a loan forgiveness application within 10 months after the end of the “loan forgiveness covered period”, no payments of principal or interest on the loan will be required before ...