Beneficial Ownership Information (BOI) Update – March 25th, 2025
The U.S. Department of Treasury issued an interim final rule that narrows the scope of the Beneficial Ownership Information (BOI) reporting requirements. All entities created in the United States and their beneficial owners, are now exempt from BOI reporting. For domestic U.S. companies and individuals, no further action is needed. BOI reporting remains mandatory for…
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Beneficial Ownership Information (BOI) Update – Back on Hold
As expected, the Beneficial Ownership Information (BOI) requirement has taken yet another dramatic turn. Yesterday, FinCEN, a division of the U.S. Treasury, announced it will suspend fines, penalties, or enforcement action against any companies based on BOI compliance. This announcement comes weeks after FinCEN reinstated the requirement – setting a compliance deadline of March 21, 2025…
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Potential Tax Changes in 2025: What You Need to Know
For 2025, several significant tax changes are on the horizon that could impact individuals, businesses, and tax professionals alike. From the expiration of key provisions in the Tax Cuts and Jobs Act (TCJA) to inflation adjustments and potential legislative developments, staying informed is crucial for proactive planning. Here’s an overview of what’s coming and how…
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Beneficial Ownership Information (BOI) Update
The legal challenges surrounding the Beneficial Ownership Information (BOI) requirement continue. On February 18, the Texas District Court granted the U.S. Treasury a stay order reinstating the mandatory reporting requirement. FinCEN, the enforcement arm of the US Treasury, issued the following revised deadline guidance: For most reporting companies, the new deadline to file is March…
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Exciting News: MKA is Growing Across Florida!
We’re thrilled to announce three recent additions, marking a significant milestone in the growth of Moss, Krusick & Associates (MKA). These partnerships solidify our commitment to be Florida’s leading regional accounting firms, with expanded reach and enhanced capabilities to serve clients across the state. Introducing Our Newest Additions to MKA: Miramar, FL – Expanding our…
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Beneficial Ownership Information Requirement Update
What is BOI? Starting January 1, 2024, the Corporate Transparency Act (CTA) went into effect. The CTA requires the disclosure of the Beneficial Ownership Information (BOI) of certain entities from people who own or control a company. The CTA is not a part of the tax code, as the new BOI report is filed with the…
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