Stay Informed with the Latest IRS Announcements
Keep up to date with the most important updates from the IRS. This page features links to recent announcements, policy changes, and deadlines that could impact your financial planning and tax obligations. Whether it’s new regulations, relief measures, or filing updates, you’ll find the critical information you need, all in one place.
New FinCEN Beneficial Ownership Information (BOI) Requirements
On December 3, a Texas court preliminarily blocked the Corporate Transparency Act nationwide. This means, as of now, the filing requirement is on hold, but enforcement could resume if the court’s order is overturned on appeal.
Starting January 1, 2024, the Financial Crimes Enforcement Network (FinCEN) will require certain businesses to report Beneficial Ownership Information (BOI) under the Corporate Transparency Act. This new regulation aims to enhance transparency and combat financial crimes by requiring businesses to disclose key information about individuals with significant ownership or control. Be sure to review the requirements to determine if your business is affected and ensure compliance by the deadline.
Latest Important IRS Announcements
We hope these resources help you stay informed and prepared for your financial tasks. Should you require personalized assistance or have specific questions, do not hesitate to contact us at Swensen, Phelan & Associates. Our team of experienced professionals is here to provide you with expert advice and support.
