BOI

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BOI on hold again

On December 26, 2024, a panel of judges reversed the previous lift of the nationwide block (which was released three days earlier). As a result, at the post, there is a preliminary injunction in place so no BOI reporting is legally required. Keep in mind that this is still in the preliminary injunction phase, so

By |2025-01-06T18:11:12+00:00December 27th, 2024|Categories: Business|Tags: , , , , |

BOI filing is back

On December 23rd, the US Court of Appeals - Fifth circuit reinstated the BOI (Beneficial Ownership information) filing requirement. The reinstatement made a few changes to the reporting deadlines which in many cases is now January 13th 2025 (instead of January 1st, 2025). As a result, you are now required again to file the BOI

By |2025-01-06T18:09:31+00:00December 24th, 2024|Categories: Business, Individuals|Tags: , , , , , , , , , , , , , |

Federal Judge in Texas issued a nationwide injunction to block the BOI

Yesterday, a Federal Judge Mr. Amos Mazzant issued a nationwide injunction to block the BOI (Beneficial Ownership Information). Based on this injunction, you are not required to comply with the CTA (Corporate Transparency Act) reporting requirement - BOI filing report. As you might recall in some of our posts, other Federal Judges ruled then injunction

BOI deadline in 30 days – Attend free seminar and file – Avoid $591 fine per day

Even the IRS is reminding us of the requirement to file the BOI (Beneficial Ownership Information), in their IR-2024-288 released around mid November 2024, the IRS shared information on this requirement and a free one hour seminar held by FinCen (Financial Crimes Enforcement Network) representatives. Why do we consider that even the IRS is urging

By |2025-01-06T18:02:11+00:00December 1st, 2024|Categories: Business, Individuals|Tags: , , , , , , , , , , , |

FinCen estimates around 9 million hours spent requesting access to BOI

The numbers for the FinCen BOI requirement starting 2024 are staggering. FinCen is going to allow access to the data collected from business owners to different financial institutions and State and Local authorities. From different articles, "...FinCEN also estimated that 15,934 entities will seek access to BOI, and that the vast majority of them—15,716—will be

NJ Supreme Court Committee Issues Opinion allowing CPAs and EAs to assist in simple BOI filings

Two days ago, the Committee on the Authorized Practice of Law appointed by the Supreme Court of New Jersey issued an opinion which settles the debate if helping or filing a BOI report by a CPA Certified Public Accountant or EA Enrolled Agent constitutes unauthorized practice of law in NJ. Note that we expect other

Mid-year Financial review – Tax changes & BOI compliance – Recording available in YouTube

Our colleagues from NJ SBDC have posted the Mid-year Financial review seminar from mid-June 2024 in Youtube. We highly recommended checking the amazing video library of this organization as it has over a hundred and fifty recording on different topics relevant to any business owner. What You'll Learn from this presentation: - Key tax changes

By |2024-06-27T02:39:11+00:00June 27th, 2024|Categories: Business|Tags: , , , , , , , , , , , |

Join the FREE NJ SBDC Webinar June 13th at 12pm EST – Mid-Year Financial Review: Tax Changes

Dive into the essential 2024 tax updates in this Presidential election year and Beneficial Ownership Interest (BOI) requirements to keep your business compliant and penalty-free! Join our friends at NJ SBDC this next Thursday, June 13th at 12 PM EST for our next event, "Mid-Year Financial Review: Tax Changes & BOI Compliance in 2024", a

FinCen published the timeline to share BOI information with agencies and foreign governments

In this year so far, we have published several posts regarding the Beneficial Ownership Information (BOI) enforced by Financial Crimes Enforcement Network (FinCen). The latest BOI related post titled " When in doubt, keep filing BOI reports"  from March 2024 expressed our recommendation to keep filing the BOI as the unconstitutional declaration by the U.S.

When in doubt, keep filing BOI reports

As mentioned in previous posts, we highly recommend to keep filing BOI post as needed even after the unconstitutional declaration by the U.S. District Court, N.D. of Alabama. In a press release from FinCen, this organization will not enforce the Corporate Transparency Act (and BOI filing) against the plaintiffs, but everyone else is still required

By |2025-01-12T17:55:44+00:00March 7th, 2024|Categories: Business|Tags: , , , , , , |
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