Tax Updates

IRS Tax Compliance Trends 2024: What Taxpayers Need to Know

The IRS recently released its 2024 Data Book, offering a detailed look at federal tax activity. It covers everything from collections and audits to refunds and compliance enforcement. In short, it highlights how the IRS is operating post-pandemic—and what that means for taxpayers like you. According to the IRS Newsroom summary, enforcement activity has ramped […]

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BOI Reporting Requirements: A Game-Changer for Domestic Companies and U.S. Persons

In a significant development, the Financial Crimes Enforcement Network (FinCEN) has introduced an interim final rule that effectively eliminates the Beneficial Ownership Information (BOI) reporting requirements for domestic companies and U.S. persons. This move, aligned with the Corporate Transparency Act (CTA), marks a pivotal shift in the regulatory landscape for businesses across the nation. 🔍

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