News & Events Insights

Congratulations again to our colleagues celebrating anniversaries in Q1 2024. Here's to more years of shared success!

MBK remains steadfast in its commitment to the community in 2024.

SECURE 2.0 - There are some significant changes in 2024 and 2025 that may help nonprofit employers recruit and retain employees. This article presents what organizations need to know.

On February 13, 2024, the IRS issued IR 2024-39 to share warning signs that an ERC (Employee Retention Credit) claim may be questionable warranting further investigation. It is urging taxpayers to revisit their claims and, if questionable, take advantage of its ERC Voluntary Disclosure Program or claim withdrawal process.

This article, written on February 2nd, highlights the House's passage of the Tax Relief for American Families and Workers Act of 2024, H. R. 7024 on January 31st. However, it's important to note that the details are subject to change pending the Senate's vote and the ultimate signing into law by the President. Despite concerted efforts to get the bill to the Senate in time for the current tax filing season, this deadline has unfortunately lapsed, causing some concern over timing and efficacy. However, lawmakers remain optimistic about swift passage in the subsequent stages, aiming to minimize the impact on the IRS and enable prompt relief for taxpayers.

We highly recommend that you contact your Corporate Attorney regarding potential filing requirements as soon as possible. At this time, accounting firms are strongly being advised not to complete a Beneficial Ownership Information Filing, as this is a legal filing and could be considered the unlicensed practice of law.

In the spirit of the holiday season, the team at MBK has gone above and beyond to bring smiles and warmth to the families of Holyoke. This year, they took the initiative to make a difference in their community by adopting two deserving families through the Holyoke Boys and Girls Club. Led by team leaders Chelsea Russell and Mia McDonald, Team MBK came together to provide gifts, toys, and clothing to six children ranging from ages 5 to 15.

Bringing J.M. O'Brien & Co. to MBK signifies a strategic move towards growth and expansion in the accounting industry of Western Massachusetts. MBK stands to benefit from the influx of new talent and a broader resource pool, enriching the firm's already substantial depth of resources. The merger is particularly advantageous for MBK's tax services, which will be able to leverage J.M. O'Brien's extensive expertise to enhance its range of tax-related services.