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Beneficial Ownership Information (BOI) Reporting
Beneficial Ownership Information (BOI) Reporting New BOI Requirements for 2024: Beginning in 2024, most corporations, LLCs, and other entities created or registered in the U.S. must report their Beneficial Ownership Information (BOI) to the Financial Crimes Enforcement Network (FinCEN). What is BOI Reporting? BOI Reporting is a legal requirement aimed at increasing transparency in ownership…
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2023 Recent Tax Changes
The Internal Revenue Service (IRS) has announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Here are some of the highlights of the changes: In addition, the Inflation Reduction Act extended certain energy-related tax breaks and indexed for inflation the energy-efficient…
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2022 Tax Changes
Recent Tax Changes for 2022 The year 2022 has brought significant changes to the tax laws in the United States. Here are some of the most important changes that you should know before filing your tax return. Child Tax Credit The child tax credit has been reduced for 2022. In 2021, the child tax credit…
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