Tax Updates/Alerts
BOI – Beneficial Ownership Information Reporting
As part of the Corporate Transparency Act passed by Congress in 2021, FinCEN (Financial Crimes Enforcement Network), a bureau within the U.S. Department of Treasury, on 1 January 2024, launched the website https://fincen.gov/boi. for U.S. businesses to report who individuals who directly or indirectly own or control a company. FinCEN has created a Frequently Asked Questions
Key Questions You Should Ask When Selecting A Tax Professional
Major life changes combined with constantly changing tax laws have many taxpayers in the market for a tax professional. Understandably, taxpayers stress during the process of collecting documents and finding a professional that they can trust with their personal and financial information to properly prepare and file their federal and state tax returns. Many ask
Inflation Reduction Act
The Inflation Reduction Act (IRA) signed by President Biden Aug. 16 includes a variety of tax provisions that will impact U.S. businesses and individuals. While some of the changes have received a great deal of media attention, others may come as a surprise to those who have not been following the legislative process closely. Generally,
IRS Delays $600 Threshold for 1099-Ks
The IRS has issued Notice 2023-10 announcing the 2022 tax year as a transition period for reporting requirements for third party settlement organizations and payment platforms such as Venmo, PayPal, Amazon, eBay, Square, Zelle, Etsy and CashApp for reporting proceeds or income to an individual that exceeds $600. Before the new $600 threshold, an individual
Virtual Tax Filing
Virtual tax filing is available in the comfort of your home. We provide encrypted file uploading, virtual consultations, e-signing for tax documents and electronic filing of tax returns to the IRS and state agencies.
Tax Update – What’s New For Your 2021 Tax Return
This is a tax update of the most common changes and information to know for filing your 2021 individual tax returns in 2022.
