GGM News
Tax

Many Employers At Risk For IRS Recovery Of ERC Credits

On March 7, 2023, the IRS issued a warning to Employee Retention Credit claims. False claims generate compliance risk for people and businesses claiming improper credits. According to the warning, "The IRS and tax professionals continue to see third parties aggressively promoting these ERC schemes on radio and online."

Businesses should be cautious of advertised schemes and direct solicitations promising tax savings that are too good to be true. Taxpayers are always responsible for the information reported on their tax returns. Improperly claiming the ERC could result in taxpayers being required to repay the credit along with penalties and interest.

Tax

Importance of 1099 Forms

Businesses are required to issue Forms 1099, generally on or before January 31st relating to payments made during the preceding year. The IRS uses Forms 1099 to track income that isn’t recorded in a person’s wages or salaries, which are reported on Form W-2.

Firm News

Gray Griffith & Mays – Morgantown Announces Acquisition of West Virginia CPA Firm

Gray Griffith & Mays – Morgantown, a full-service accounting and tax CPA firm, announces the acquisition of Delbert Bowers CPA.  Delbert Bowers CPA and the Bowers family have provided quality personalized financial guidance to small businesses and individuals for over 50 years in the Morgantown, West Virginia area. Delbert Bowers CPA has provided professional tax preparation, bookkeeping and accounting services as well as a history of compilation and other reporting services. The acquisition became effective on January 1, 2022.

Firm News

Welcome, Maraya!

Please help us welcome Maraya Williamson to the Gray, Griffith & Mays Morgantown, LLC team! Maraya is a graduate of West Virginia University and brings 6 years of audit and assurance experience to the rapidly growing GGM Morgantown team.  She will focus her efforts on Healthcare, Hospice, and Not-for-Profit attestation engagements. Outside of work, Maraya enjoys attending WVU sporting events and going on hikes with her dog, Oscar, in the Morgantown area.

Firm News

Welcome, Sydney!

Please help us welcome Sydney Miller to the Gray, Griffith & Mays team! Sydney is a recent graduate of West Virginia State University, where she played tennis and dual-majored in Accounting and Economics. Sydney joins the rapidly growing Audit Department where she will focus on Employee Benefit Plan and Not-for-Profit attestation engagements. Outside of work, Sydney enjoys going on walks and playing tennis competitively in the Charleston community.

Firm News

Welcome, Madison!

Please help us welcome Madison Workman to the Gray Griffith & Mays team. Madison is a recent graduate of West Virginia State University and joins the Tax & Small Business Accounting Department as a Staff Associate. When she is not providing assistance to her tax and small business clients, she enjoys West Virginia flatwater kayaking, trips to the beach, and spending time with her family.
 

Latest Posts
William "Bill" Johnson and Keith Myers Promoted to Directors at GGM
1/5/2024 2:24 PM | Gray, Griffith & Mays, a.c.
Many Employers At Risk For IRS Recovery Of ERC Credits
6/9/2023 11:33 AM | Gray, Griffith & Mays, a.c.
Importance of 1099 Forms
2/7/2023 12:36 PM | Gray, Griffith & Mays, a.c.
Nonprofit Organization's Year-End Checklist
12/19/2022 12:38 PM | Gray, Griffith & Mays, a.c.
Gray Griffith & Mays – Morgantown Announces Acquisition of West Virginia CPA Firm
1/1/2022 12:00 AM | Gray, Griffith & Mays, a.c.
Categories

Gray, Griffith & Mays logo

Gray, Griffith & Mays, a.c.

707 Virginia Street East
Suite 400
Charleston, WV 25301

Phone: (304) 345-9400
Fax: (304) 345-7258
E-mail: ggm@ggmcpa.net

Gray, Griffith & Mays Morgantown logo

Gray, Griffith & Mays Morgantown, PLLC

1300 Fort Pierpont Drive
Suite 102
Morgantown, WV 26508

Phone: (304) 241-1267
Fax: (304) 241-1265
E-mail: ggmMorgantown@ggmcpa.net

The Health Group logo

The Health Group, LLC

1300 Fort Pierpont Drive
Suite 102
Morgantown, WV 26508

Phone: (304) 241-1261
Fax: (304) 241-1265

 

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