Kerr Business Services

02/10/2026

https://www.realclearinvestigations.com/articles/2026/02/10/caring_for_mom_is_an_education_in_scams_and_fraud_1163842.html

Worth a read for anyone with aging parents or relatives. Elder fraud is far more common—and closer to home—than many realize. Awareness and early involvement can make all the difference.

If you ever have doubts about whether something is legitimate or feel pressured to make a financial decision, please contact our office first.

It was summer 2021, and my mother’s desk was a mess, including a torn envelope from the IRS shoved in the back of a drawer. “Mom?” I asked. “Did you pay your taxes?” My m

12/06/2024

Over the past several months Cortney Branco has put in tremendous effort in studying for the Enrolled Agent exam and yesterday she passed the final part to become an Enrolled Agent.

Enrolled agent status is the highest credential the IRS awards. An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by passing a three-part comprehensive IRS test covering individual and business tax returns.

All of us at KBS would like to congratulate Cortney on earning the status of Enrolled Agent.

04/08/2024

02/21/2024

Enrolled agent status is the highest credential the IRS awards.

An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service by passing a three-part comprehensive IRS test covering individual and business tax returns.

All of us at KBS would like to congratulate Traci Sheets Moeller on earning the status of Enrolled Agent. Everyone who has dealt with Traci over the years has known that she is one of the best and most dedicated tax preparers anywhere. Now she has the certification to confirm it.

11/28/2023

Small business owners - we want to bring to your attention the recent regulatory changes concerning the Financial Crimes Enforcement Network (FinCEN) Beneficial Ownership Information (BOI) reporting requirement.

(1) Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA” or “the Act”) by filing information on their “beneficial owners” with FinCEN. Existing LLC’s, Corporations and Partnership that are not exempted from filing will have until January 1, 2025 to submit their filing. LLCs, Corporations or Partnerships formed after January 1, 2024 will have 90 days from the date of formation to make their initial filing. .

(2) After the initial filing, any time there is a change to the “beneficial owners” an updated filing must be made within the defined time period.

(3) The penalties for failure to comply, missing deadlines or providing incorrect information are significant. There is a $500 per day penalty, up to $10,000, and imprisonment of up to two years for the failure to timely file initial or updated reports.

For more information on this law please visit the FinCEN website and if you have specific questions on this law you should consult with an attorney.

It is important that owners/partners of LLC’s, corporations and partnerships not assume that they are not subject to this law or that your CPA, tax preparer, bookkeeper or other third party will automatically file for you.

At KBS we will assist existing clients with the administrative function of electronically filing the client provided information after receiving a signed engagement letter specific to this task.

Starting January 1, 2024, many companies will be required to report information to the U.S. government about who ultimately owns and controls them.

03/17/2023

Here is another good explanation by Kelly Phillips Erb on a subject we get asked about a lot.

Over the past few years, there has been an uptick in the number of taxpayers asking about married filing separately as a tax status. Here’s what you need to know.

08/18/2022

A good explanation on the actual hiring plans by the IRS as there is a lot of misinformation being spread.

As the author concludes - You don’t have to be a fan of the IRS. And you don’t have to be in favor of giving them more money. But when you’re talking about what it is the IRS does—and what it doesn’t do—you should arm yourself, but with the facts.

Is the IRS raising an army? Are armed IRS agents heading your way?Like all rumors, these started with a grain of truth. Here’s what you need to know about IRS funding, criminal investigations, and who, exactly, will be carrying a gun.

08/01/2022

We have about 15 file cabinets available for free if anyone is interested. Some are in better shape than others. You just need to pick them up a 924 Jefferson St. Call 830-257-7733 if interested.