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.

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.

This is a great time for organizations to look back at what they have accomplished throughout the year and prepare to enter the next year in position to have another successful year!

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.

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.

It is with great sadness that we, the employees of Gray, Griffith & Mays, a.c., announce the death of our partner, and more importantly - our friend, Gale Gray and his wife Pam.

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.

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.
 

The industry publication Hospice News recently interviewed Ryan Lindsay, Director of The Health Group and Gray, Griffith & Mays, to discuss the major factors causing disruption in the health care industry, including Amazon's role, mergers and acquisitions, cybersecurity, and staffing shortages.

On March 20, 2021, the Office of Management and Budget (OMB) issued a Memorandum (M-21-20), Promoting Public Trust in the Federal Government through Effective Implementation of the American Rescue Plan Act and Stewardship of the Taxpayer Resources, that included information about how agencies should apply certain flexibilities provided in Appendix 3, Disaster Relief Flexibilities to Reduce Burden for Financial Assistance, as well as other flexibilities as permitted by law. The purpose of these flexibilities is to identify synergies across programs and agencies that alleviate burden for recipients.