On December 20, 2024 the IRS announced it will issue automatic payments to eligible individuals who did not receive all of the Economic Impact Payments (EIP) they were eligible to receive, and who did not claim the Recovery Rebate CreditREAD MORE
Expertise: Business Planning
The ongoing developments around the FinCEN Beneficial Ownership Information (BOI) filing requirements have left many entities wondering about their next steps. With the latest news putting the requirement to file BOI reports on hold once again, we want to provideREAD MORE
A recent U.S. District Court decision has temporarily halted the enforcement of the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) reporting requirements. On December 3, 2024, a Texas federal court issued a nationwide injunction preventing the Treasury Department andREAD MORE
A group of 44 members of Congress recently sent a formal request to the Treasury Department and FinCEN to consider a delay in enforcing the BOI filing deadline. Their letter raises concerns about the complexity of the BOI rules andREAD MORE
The IRS has issued several disaster relief notices relating to the 2023 tax year, providing relief for various counties in multiple states. These notices have different applicable periods, as well as varying filing and payment deadlines. The list of designatedREAD MORE
On March 1, 2024, the U.S. District Court for the Northern District of Alabama declared the Corporate Transparency Act (CTA) unconstitutional. Effective January 1, 2024, under the CTA, reporting companies are required to submit a Beneficial Ownership Information (BOI) reportREAD MORE
On February 27, 2024, the Internal Revenue Service (IRS) announced with IR-2024-51 that they are granting relief to all taxpayers residing in San Diego County as a result of the recent storms. No other counties in California are currently eligibleREAD MORE
Starting January 1, 2024, the 2021 Corporate Transparency Act introduced a mandatory reporting of beneficial ownership information to be phased in over two years. ‘Covered entities’ must report details about their ‘beneficial owners’ to the U.S. Department of the Treasury’sREAD MORE
On December 21, 2023, the Internal Revenue Service (IRS) rolled out a new Voluntary Disclosure Program effective immediately to remain open until March 22, 2024. This program provides businesses an opportunity to rectify erroneously filed Employee Retention Credit (ERC) claimsREAD MORE
The California Board of Accountancy (CBA) is rolling out some significant changes to the CPA exam requirements, with some changes having a retroactive impact. These changes include: Extensions to Exam Credits CPA candidates should review their accounts to check thatREAD MORE