BOI Reporting Reinstated. Filing Deadline Is Now March 21, 2025!
FinCEN’s collection of beneficial ownership information (BOI) was once again reinstated on Feb. 18, 2025. Please see this FinCEN Notice for more details. What does this latest change mean? All members of LLCs or corporate shareholders are required to comply with...BOI Reporting Reinstated; New Deadline Is Monday, Jan. 13, 2025!
An injunction to halt FinCEN’s collection of beneficial ownership information (BOI) was overturned yesterday, Dec. 23, in the Fifth Circuit Court of Appeals. Please see this Journal of Accountancy article for more details. What does this change mean?...The BOI Injunction
The Corporate Transparency Act (CTA) requires all LLCs to file Beneficial Ownership Information (BOI) with the Financial Crimes Enforcement Network (FinCEN). This filing must be completed by December 31, 2024, for LLCs started prior to 2024, and within 90 days from...
Business Owners: Changes to Commercial Activity Tax Explained
You may have received a letter regarding your CAT Tax account. Beginning on January 1, 2024, the commercial activity tax (CAT) annual minimum tax is eliminated, and the exclusion amount is increased from $1 million to $3 million. Therefore, taxpayers with taxable...