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

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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

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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

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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)

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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

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FinCen BOI BOI de FinCEN

FinCEN BOI FAQs Updated Once Again

January 2024

On 12/12/23, FinCEN BOI FAQs were updated to include twenty-one new questions related to general questions, the reporting process, reporting companies, reporting requirements, initial reports, updated reports, compliance, and enforcement, FinCEN identifiers, and third-party service providers.  FinCEN BOI FAQs have

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IRS collection notice Avisos de cobros

IRS Collection Notices to Re-Start in 2024

January 2024

On 12/19/23, the IRS announced the restart of  IRS collection notices as well as a new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent  an automated IRS collection notice reminder during the Covid-19

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books and records libros y registros

Adequate Books and Records Often Overlooked!

January 2024

Internal Revenue Code Section 6001 requires Taxpayers to maintain adequate books and records and “that that every person liable for any tax imposed by the Code, or for the collection thereof, must keep such records, render such statements, make such

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taxes owed impuestos adeudados

Taxes Owed But NOT Fully Paid? IRS charging 8%.

December 2023

On 8/25/23, the IRS announced that Interest rates increase for the fourth quarter 2023 would increase to 8% per year for the calendar quarter beginning 10/1/23 for taxes owed but not fully paid by individual taxpayers (“underpayments”).  The 8% interest

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Holiday scams estafas navidenas

Holiday Scams propelled by Artificial Intelligence

December 2023

On 11/22/23, the U.S. Department of the Treasury’s Office of Cybersecurity and Critical Infrastructure Protection office released an advisory providing tips  to consumers  to avoid becoming the victim of cyber or online holiday scams. The rise of Artificial Intelligence has

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FinCEN Guide FinCEN Guía Identificador FinCEN

The FinCEN Identifier

December 2023

On September 29, 2023, FinCEN updated the FAQs regarding Beneficial Ownership Information (BOI) Reporting, including guidance on the FinCEN identifier.   The FinCEN’s BOI FAQs work in tandem with the FinCEN’s BOI Small Business Guide that was released on 9/18/23 to

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substantial control control substancial

“Substantial Control” under the CTA

December 2023

FinCEN’s Small Entity Compliance Guide published 9/18/23 defines a beneficial owner as any individual who, directly or indirectly: exercises substantial control over a reporting company or owns or controls at least 25 percent of the ownership interests of a reporting

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