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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.

By |2024-05-01T18:47:36+00:00May 1st, 2024|Categories: Business|Tags: , , , , , , , , |

FTC to put five tax preparation companies on notice

The Federal Trade Commission communicated to five tax preparation companies that they could face penalties of up to $50,120 per violation for the misuse of consumers' confidential data. These preparation tax companies were sharing sensitive information such as finance, marital status, number of children and more and monetizing (getting financial benefit) from the taxpayer /

By |2023-09-25T22:53:08+00:00September 27th, 2023|Categories: Individuals|Tags: , , , , , , , , , , , , |

Beneficial Ownership information – Required FinCEN report for businesses

From January 1st, 2024, any new company (exemptions are listed below) will have 30 days to file their initial Beneficial Ownership information (BOI) report. For the companies already in business before that date, the BOI has to be filed before January 1st, 2025.  Also, you should be reporting any changes in the BOI within the

By |2023-09-22T14:36:39+00:00September 22nd, 2023|Categories: Business|Tags: , , , , , , , |
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