Tax season is done! Well, mostly. I do have a few clients that requested extensions. So I will be busy off and on until October 15th. ... See MoreSee Less
President Trump signed an Executive Order on March 25, 2025 to modernize how the government handles money, switching from paper checks to secure electronic payments.
This order will take effect on September 30, 2025.
Beginning October 1, 2025, the Federal government will stop mailing paper checks for all disbursements, including tax refunds.
Payments a person makes to the federal government, such as income tax payments and estimated tax payments must also be processed electronically where permissible under existing law.
It also says "...Exceptions will be made for people without banking or electronic payment access, certain emergency payments, certain law enforcement activities and other special cases qualifying for exception under the Order or other existing law."
If you are unsure whether this affects you in your tax situation, please contact your tax professional. ... See MoreSee Less
The Financial Crimes Network (FinCEN) issued a major update on its beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act. In line with the U.S. Treasury's March 2, 2025 announcement, U.S. companies and persons are no longer required to report BOI to FinCEN.
So, if you are an LLC, S-Corporation or full / C Corporation that is a domestic reporting company (U.S. company); you no longer have to register.
As always, if you have any questions, please contact your Tax Professional. ... See MoreSee Less
Tax season is half over, if you haven't made an appointment yet to have your taxes completed, you should be contacting your Tax Preparer. ... See MoreSee Less
The 5th Circuit Court of Appeals has granted the government's emergency motion to stay the nationwide injunction against the Corporate Transparency Act (CTA).
What this means is that businesses (LLC's, Corporations, etc.) MUST file their initial beneficial ownership information (BOI) report with FINCEN. The original due date for existing companies was January 1, 2025. The NEW due date is January 13, 2025.
New companies starting in 2025 must file their BOI reports within 30 days of their creation or registration becoming effective.
As always, if you have any questions, speak with your Attorney or your Tax Professional. ... See MoreSee Less
Tax season is done! Well, mostly. I do have a few clients that requested extensions. So I will be busy off and on until October 15th. ... See MoreSee Less
0 CommentsComment on Facebook
There is a big change coming:
President Trump signed an Executive Order on March 25, 2025 to modernize how the government handles money, switching from paper checks to secure electronic payments.
This order will take effect on September 30, 2025.
Beginning October 1, 2025, the Federal government will stop mailing paper checks for all disbursements, including tax refunds.
Payments a person makes to the federal government, such as income tax payments and estimated tax payments must also be processed electronically where permissible under existing law.
It also says "...Exceptions will be made for people without banking or electronic payment access, certain emergency payments, certain law enforcement activities and other special cases qualifying for exception under the Order or other existing law."
If you are unsure whether this affects you in your tax situation, please contact your tax professional. ... See MoreSee Less
0 CommentsComment on Facebook
The Financial Crimes Network (FinCEN) issued a major update on its beneficial ownership information (BOI) reporting requirements under the Corporate Transparency Act. In line with the U.S. Treasury's March 2, 2025 announcement, U.S. companies and persons are no longer required to report BOI to FinCEN.
So, if you are an LLC, S-Corporation or full / C Corporation that is a domestic reporting company (U.S. company); you no longer have to register.
As always, if you have any questions, please contact your Tax Professional. ... See MoreSee Less
0 CommentsComment on Facebook
Tax season is half over, if you haven't made an appointment yet to have your taxes completed, you should be contacting your Tax Preparer. ... See MoreSee Less
0 CommentsComment on Facebook
The IRS will start accepting business returns as of January 15th and individual returns as of January 27th this tax season. ... See MoreSee Less
0 CommentsComment on Facebook
The 5th Circuit Court of Appeals has granted the government's emergency motion to stay the nationwide injunction against the Corporate Transparency Act (CTA).
What this means is that businesses (LLC's, Corporations, etc.) MUST file their initial beneficial ownership information (BOI) report with FINCEN. The original due date for existing companies was January 1, 2025. The NEW due date is January 13, 2025.
New companies starting in 2025 must file their BOI reports within 30 days of their creation or registration becoming effective.
As always, if you have any questions, speak with your Attorney or your Tax Professional. ... See MoreSee Less
0 CommentsComment on Facebook