BOI Beneficial ownership access safeguards BOI Acceso y Salvaguardas

BOI Access & Safeguards

February 2024

On 2/20/23, FinCEN published the Small Entity Compliance Guide for Beneficial Ownership Information Access and Safeguards Requirements.  The (six-pages and four sections)  BOI Access & Safeguards Guide  provides an overview of the Beneficial Ownership Information Access and Safeguards Rule (Access

  • Foodman Website and JD Supra
AML/CFT ALD/FT

AML/CFT coming to Investment Advisers

February 2024

On 2/15/24, FinCEN published a Notice of Proposed Rulemaking (NPRM) that would require certain investment advisers to apply AML/CFT requirements pursuant to the Bank Secrecy Act, including implementing risk-based AML/CFT programs, reporting suspicious activity to FinCEN, and fulfilling recordkeeping requirements. 

  • Foodman Website and JD Supra
real estate report reporte real estate

Real Estate Report from FinCEN

February 2024

On February 07, 2024, FinCEN issued a Notice of Proposed Rulemaking (NPRM) to combat and deter money laundering in the U.S. residential real estate sector by increasing transparency.  FinCEN is seeking to require certain professionals involved in the closing or

  • Foodman Website and JD Supra
1099-K Form Formulario 1099-K

Form 1099-K 2023 IRS Clarification

February 2024

On 2/6/24, the IRS released new and updated FAQs regarding Form 1099-K 2023 given that  on November 21, 2023 (via Notice 2023-74) the IRS announced that calendar year 2023 would also be a transition year for third party settlement organizations

  • Foodman Website and JD Supra
Tax preparer preparador de impuestos

Is Your 2023 Tax Preparer Asking You the Right Questions?

February 2024

Tax season is here and on 2/1/24, the IRS reminded Taxpayers to choose a 2023 Tax Preparer carefully when preparing their 2023 Taxes.  Taxpayers are ultimately legally responsible for all the information on their income tax return, regardless of who

  • Foodman Website and JD Supra
BOI de FinCEN Preguntas Frecuentes BOI de FinCEN

BOI Compliance/Enforcement for Reporting Companies

February 2024

Reporting companies are required to report information to FinCEN about the individuals who ultimately own or control them. FinCEN began accepting reports on January 1, 2024.  Reporting Companies have a significant obligation to understand and comply with the BOI reporting

  • Foodman Website and JD Supra
Digital Assets Activos Digitales

Digital Assets 2023 Form 1040

February 2024

On 1/22/24, the IRS reminded taxpayers that they must again answer the digital asset 2023 question on Forms 1040 and 1040-SR and report all digital asset related income when they file their 2023 federal income tax return, as they did

  • Foodman Website and JD Supra
2023 taxes impuestos 2023

2023 Taxes: Best to Get Ready Now

February 2024

Tax planning applies to everyone. On 1/22/24, IRS reminded all taxpayers to start getting ready to file their federal income tax return. Planning ahead can help taxpayers file an accurate return and avoid delays that can slow tax refunds.  Going

  • Foodman Website and JD Supra
Reporting Companies Empresa que reporta

Reporting Company gets clarity on FinCEN FAQ 1/12/24 update

February 2024

On 1/12/24, FinCEN once again updated FAQs relating to the Beneficial Ownership Information (BOI) Reporting Rule by adding ten new FAQs. On 1/4/24, FinCEN published additional BOI FAQ’s to include new information about reporting companies, beneficial owners, company applicants, reporting

  • Foodman Website and JD Supra

BOI Authorized Recipients

January 2024

On 12/21/23, FinCEN issued a final rule implementing the access and safeguard provisions of the Corporate Transparency Act (CTA) (the “Access Rule”). The Access Rule aims to ensure that: (1) only BOI authorized recipients have access to BOI; (2) BOI

  • Foodman Website and JD Supra
Beneficial Owner Beneficiario Final

Beneficial Owner Exceptions under BOI Reporting

January 2024

The FinCEN BOI Small Business Guide was originally released on 9/18/23 and subsequently updated on December 2023 as Version 1.1.  The purpose of the Guide is to assist the small business community in complying with the beneficial ownership information (BOI)

  • Foodman Website and JD Supra
BOI de FinCEN Preguntas Frecuentes BOI de FinCEN

BOI FAQs from FinCEN updated January 2024

January 2024

On 1/4/24, FinCEN published additional BOI FAQ’s to include new information about reporting companies, beneficial owners, company applicants, reporting requirements, and reporting company exemptions, as well as updated information about FinCEN identifiers. The 1/4/24 BOI FAQs includes eight questions versus

  • Foodman Website and JD Supra