The turbulence surrounding key elections in 2024 isn’t limited to the campaign trail. With the expiration of 2017’s Tax Cuts and Jobs Act (TCJA) set for December 31, 2025, taxpayers…
Reminder: Deadline for Beneficial Ownership Reporting Is Fast Approaching
The deadline for Beneficial Ownership Information (BOI) Reporting under the Corporate Transparency Act (CTA) is fast approaching, with most reporting entities needing to file by January 1, 2025. While this…
Key Questions to Consider When Crafting Your Effective Tax Strategy
With April 15 behind us, many business owners view this as a chance to set aside thinking about taxes for months. While they will pay their quarterly estimates and work…
The Battle Over IRS Penalties: Understanding the Farhy v. Commissioner Decision
In 2023, the United States Tax Court issued a ruling in Farhy v. Commissioner stating that the IRS lacked the authority to assess and issue penalties directly for failing to…
Understanding the Evolving Landscape of BOI Reporting Requirements
Beneficial ownership information (BOI) reporting was set to kick off in 2024, but in an unexpected turn of events, a federal court in Alabama ruled the Corporate Transparency Act as…
