Tax News | ATMS Springfield

Missouri Exemption 8-28-25

Marissa Black — Thu, 28 Aug 2025 20:33:03 +0000

As of August 28th, 2025 the state of Missouri passed a bill that removed state and local tax on diapers, feminine hygiene, & incontinence products. This bill is automatically applied when purchased, there are no additional forms required to fill out. For the Retailers, you will report the dollar amount sold as a negative adjustment on the sales tax forms. For more detailed information please visit the link below.

https://dor.mo.gov/faq/taxation/business/hygiene-products-exemptions.html

Missouri Proposition A

Marissa Black — Thu, 01 May 2025 20:30:27 +0000

As of August 28,2025 the Missouri Proposition A has been overturned. Any hours worked during the period of 5/1/25 to 8/27/25 are still required to have sick time benefits.

https://labor.mo.gov/faqs/knowledge-base/when-do-employees-stop-earning-paid-sick-time-due-passage-hb-567

Effective May 1, 2025 Missouri law passed Proposition A for paid sick time benefits. Employers that have more than $500,000 in sales/revenue are required for employees to accrue 1 hour of earned paid sick time for every 30 hours worked. Employers with 15 or more employees are required to provide up to 56 hours of earned paid sick time per year. Employers with fewer than 15 employees shall provide 40 hours of earned paid sick time. The link below is the poster provided by the Missouri Department of Labor. ATMS is currently tracking clients that are required and adding these to the payroll.

https://labor.mo.gov/media/pdf/earned-paid-sick-time-ls-121

BOI Filing Update

Marissa Black — Thu, 01 May 2025 19:40:04 +0000

FinCen has come out with a new interim final ruling that ONLY “foreign reporting companies” are required to file the Beneficial Ownership Reporting as of March 2nd, 2025. We will continue to monitor and watch for any new rulings for our clients to have up to date information. Below is the link to the FinCen website for the official information posted. If you have filed the BOI already there is nothing more to do if any information changes at this time, and if you have not filed the BOI there are no penalties or fines for not filing.

https://www.fincen.gov/news/news-releases/fincen-removes-beneficial-ownership-reporting-requirements-us-companies-and-us

How to avoid the ‘survivor’s penalty’ before a spouse passes

Suzan David — Mon, 25 Mar 2024 23:01:24 +0000

KEY POINTS

After a spouse dies, the survivor may face higher future taxes when switching to single filer for federal taxes.
But you can minimize the possible tax hit with advanced planning, such as Roth individual retirement account conversions, account ownership and beneficiaries.

Read the article here: https://www.cnbc.com/2024/03/18/how-to-avoid-the-survivors-penalty-before-a-spouse-passes.html

Where is the Stock Market Headed in 2024?

Suzan David — Mon, 25 Mar 2024 22:59:12 +0000

What could the presidential election and ongoing political gridlock mean for your portfolio? Find out with the fact-based analysis in our latest forecast.

Download the guide from Fisher Investments:

https://www.fisherinvestments.com/en-us/campaigns/smo/bc?country=US&PC=APLCG41A3A&CC=AA8E&alleycode=LF&utm_source=Apple&utm_medium=Banner&utm_campaign=Females45+Unknown&utm_content=Stocks&preserveevent=true