The Employee Retention Credit (ERC) and Audit Risks

By Scott Lewis, CPA, MSAThe IRS recently published their annual “Dirty Dozen”, a list of common scams that taxpayers may encounter. Number one on this…

Is New Vehicle LIFO Relief Finally Here?

By Scott Lewis, CPA, MSAIn 2020 and 2021, due to foreign supply chain disruptions, the production and delivery of new vehicles to auto dealerships slowed…

Inventory Price Index Computation (IPIC) on LIFO for Automobile Dealerships

By Scott Lewis, CPA, MSAIf an automobile dealership has elected New Vehicle LIFO (Last-in, First-Out), chances are that they are using the Alternative New Vehicle…

U.S. House of Representatives Pass Build Back Better Act

By Zach WimbergerOn November 19, 2021, the House of Representatives passed the Build Back Better Act (“BBBA”) for advancement to the Senate. Included in the…