Tag: Business Taxes

The Trump administration is proposing and implementing a wide range of new policies at a rapid pace. Many could have significant repercussions for U.S. manufacturers. Read on to learn about three of the most important Read More

On February 27, 2025, FinCEN announced important changes to Beneficial Ownership Information (BOI) reporting enforcement and deadlines, which may impact your compliance requirements under the Corporate Transparency Act.   Key Highlights of the Announcement No Read More

On February 18, 2025, action by the U.S. District Court for the Eastern District of Texas resulted in the reinstatement of the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA), making Read More

Updated 12/30/2024 The U.S. Court of Appeals for the Fifth Circuit has reinstated a nationwide injunction that temporarily halts the enforcement of Beneficial Ownership Information (BOI) reporting requirements. This means that reporting companies are not Read More

In general, organizations that qualify under Section 501(c)(3) of the tax code are exempt from paying federal income tax. However, some not-for-profits may seek to offset unrelated business income tax (UBIT) or income tax in Read More

The IRS released two new schedules in recent years, Schedules K-2 and K-3. These new schedules are an expanded reporting requirement intended to provide more clarity and transparency for partners and shareholders of pass-through entities Read More

Starting January 1, 2024, an anticipated 32.6 million businesses will be required to comply with new beneficial ownership information (BOI) reporting rules under the Corporate Transparency Act (“CTA”). BOI reporting involves the disclosure of information Read More

Some taxpayers may be unaware of all the federal tax reporting requirements for cryptocurrency transactions — especially when it comes to issuing and receiving a Form 1099 for 2023. If you buy something with cryptocurrency, Read More

Does your business receive large amounts of cash or cash equivalents? If so, you're generally required to report these transactions to the IRS — and not just on your tax return. Beginning January 1, 2024, Read More

On July 3, 2023, Governor Mike DeWine signed into law House Bill 33, Ohio’s 2024-2025 biennial budget legislation. This new law includes changes that will affect the Commercial Activity Tax exemptions, the resident tax credit, Read More