FinCEN Removes Beneficial Ownership Reporting Requirements for U.S. Companies

Monday, March 24, 2025
Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the Financial Crimes Enforcement Network (FinCEN) is issuing an interim final rule that removes the requirement for U.S....... Read More

FinCEN Not Issuing Fines or Penalties by Current Deadline as of February 27

Monday, March 03, 2025
FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership...... Read More

BOI Reporting Back On February 2025

Friday, February 21, 2025
Beneficial Ownership Reporting Back On, FinCEN Announces New DeadlineAfter a second Texas federal district court lifted a pause on the Corporate Transparency Act's beneficial ownership information reporting requirements, Treasury's Financial...... Read More

Businesses: Do you have to comply with the new corporate transparency reporting rules?

Sunday, December 15, 2024
UPDATE December 16, 2024On Tuesday, December 3, 2024, a federal district court in Texas issued an order granting a nationwide, preliminary injunction that: (1) enjoins enforcement of the Corporate Transparency...... Read More

Guidance on Tax Treatment of Energy Efficiency Rebates

Friday, April 19, 2024
The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy-efficient improvements. In particular,...... Read More

Independent contractor vs. employee status

Friday, March 08, 2024
The U.S. Department of Labor’s (DOL’s) test for determining whether a worker should be classified as an independent contractor or an employee for purposes of the federal Fair Labor Standards...... Read More

Threshold for electronically filing information returns

Friday, February 16, 2024
Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule change that went into effect...... Read More

New reporting rule for online payment processors delayed

Friday, February 09, 2024
For the second consecutive year, the IRS has postponed implementation of a new rule that would have led to an estimated 44 million taxpayers receiving tax forms from payment apps and online...... Read More

ERTC relief program for employers unveiled

Friday, February 02, 2024
Since July 2023, the IRS has taken a series of actions in response to what it has termed a “flood of ineligible claims” for the Employee Retention Tax Credit (ERTC). Most...... Read More

5 strategies to cut your company’s 2023 tax bill

Friday, December 01, 2023
As another year ends with interest rates and markets in flux, one thing remains certain: Reducing your company’s tax bill can improve your cash flow and your bottom line. Below...... Read More