FinCEN Updates Beneficial Ownership Information Reporting FAQs

In January 2024, the Financial Crimes Enforcement Network (FinCEN) updated its frequently asked questions on the Beneficial Ownership Information (BOI) Reporting requirements. In 2021, Congress passed the Corporate Transparency Act (CTA). The CTA requires many entities doing…

Many Companies Required to Report Information to FinCEN

Starting 1/1/24, the new Beneficial Ownership Information (BOI) reporting rules go into effect, requiring many businesses (i.e.; corporations, limited liability companies, partnerships, and other business entities) to report information about individuals who own or control…

IRS Issues 2024 Standard Mileage Rates

The IRS has issued the 2024 standard mileage rates for calculating the deductible costs of operating an automobile for business, charitable, medical or moving purposes.  (IR 2023-239, 12/14/2023; Notice 2024-8, 2024-2 IRB) Beginning on January 1,…

HIRD Deadline December 15, 2023

December 15 is the final day for employers to file their Health Insurance Responsibility Disclosure (HIRD) form. HIRD is for employers who must report on employer-sponsored insurance. Check out the HIRD FAQ page for more…

Interest Rate of MA Overpayments And Underpayments

The Massachusetts Department of Revenue announced the quarterly interest rate on overpayments and underpayments pursuant to G.L. c. 62C, §§ 32 and 40, as amended. 2024 First quarter Overpayments 7% Underpayments 9% 2023 Fourth quarter…