TSCPA Supports Bill to Delay BOI Reporting Requirements
On Tuesday, Dec. 12, the U.S. House passed H.R. 5119, providing the one-year delay, now, the Senate must take up this bill by Dec. 31.
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FinCEN Extends Beneficial Ownership Information Reports Deadline for Certain Companies
The Financial Crimes Enforcement Network recently issued a final rule that extends the deadline for certain reporting companies to file their initial beneficial ownership information reports with FinCEN.
View MoreFinCEN Proposes BOI Reports Deadline Extension for Certain Companies
The Financial Crimes Enforcement Network recently issued a Notice of Proposed Rulemaking to extend the deadline for certain reporting companies to file their initial beneficial ownership information reports.
View MoreFinCEN Issues Beneficial Ownership Information Reporting Compliance Guide
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network recently published a Small Entity Compliance Guide to assist the small business community in complying with the beneficial ownership information reporting rule.
View MoreCorporate Transparency Act/Beneficial Ownership Information Reporting — Risk Management Considerations for CPA Firms
The Corporate Transparency Act (CTA) was enacted Jan. 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy Act and related anti–money laundering rules since the U.S. Patriot Act.
View MoreTSCPA Joins the AICPA in Advocating for Delay in BOI Reporting Requirements
TSCPA has joined the AICPA in advocating for the delay of the effective date of beneficial ownership information reporting requirements.
View MoreFederal Reserve Launches System for Instant Payments
The Federal Reserve recently announced that its new system for instant payments, the FedNow® Service, is now live.
View MoreHSA Amounts Increase for 2024
The IRS recently released Rev. Proc. 2023-23, issued pursuant to Sec. 223(g), announcing that the maximum contribution to a health savings account and certain associated amounts will be higher in 2024.
View MoreState Small Business Credit Initiative 2.0 Expected To Launch in Tennessee
The American Rescue Plan Act of 2021 reauthorized the Small Business Jobs Act of 2010, which established the second installment of the State Small Business Credit Initiative.
View MorePrivate Company Practical Expedient for Valuing Share-based Awards
Over a decade ago, the FASB established the Private Company Council to address accounting concerns associated with private companies. The PCC works with the FASB in determining whether accounting alternatives or practical expedients for private companies are needed in the U.S. GAAP. The FASB has issued several Accounting Standards Updates as a result of its joint effort with the PCC.
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