New Tax Bill Proposal Released, but the Clock is Still Ticking
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A new tax bill proposal has been released, but the clock is still ticking. Currently, the federal gift and estate tax exemption is still scheduled to sunset on December 31, 2025.
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The CTA is Off...and On..and Off...and On...and Off..For Good This Time?
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On March 2nd the Treasury Department announced suspension of enforcement of the Corporate Transparency Act against U.S. citizens and domestic reporting companies and states it will refocus the target companies for reporting. On March 21st, FinCEN issued an interim final rule essentially negating the
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Back In The Saddle Again! The CTA Saga Continues...
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The District Court in the Smith case has stayed the nationwide injunction halting enforcement of the CTA. FinCEN has stated that reporting companies who have not done so already, have until March 21 to file their BOI reports.
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Estate Tax Portability for Surviving Spouses
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If you lost your spouse in the last few years and have an estate size in excess of a few million or so, be sure you aren’t leaving significant estate tax savings on the table by missing the deadline to file for portability.
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Who Needs 6 Flags for a bumpy ride?! - The CTA Is Back in Force! Wait, No It Isn't!
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The United States Supreme Court has issued a stay of the preliminary injunction put in place by the Eastern District of Texas on December 5. But another Texas Court issued an injunction that has FinCEN keeping the CTA on pause.
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January 2025 filing deadlines for IRS Forms 1099-NEC and 1099-MISC
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If you own a business or are self-employed, you are required to send an IRS Form 1099-NEC or a 1099-MISC to...
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