“This is a victory for common sense,” said U.S. Secretary of the Treasury Scott Bessent. “[This] action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the...
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West Virginia Storm Victims Qualify For IRS Tax Relief
On March 14, 2025 the Internal Revenue Service (IRS) announced tax relief for individuals and businesses in parts of West Virginia affected by severe storms, straight-line winds, flooding, landslides and mudslides that began on February 15, 2025. These taxpayers now...
FinCEN Immediately Suspending Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines under the Corporate Transparency Act
“This is a victory for common sense,” said U.S. Secretary of the Treasury Scott Bessent. “Today’s action is part of President Trump’s bold agenda to unleash American prosperity by reining in burdensome regulations, in particular for small businesses that are the...
FinCEN Not Issuing Fines or Penalties in Connection with Beneficial Ownership Information Reporting Deadlines pursuant to the Corporate Transparency Act
Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Not Yet In Force. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued...
A Reimagined IRS Under President Donald Trump And Elon Musk – What Should Taxpayers Do Now?
It is no secret that the IRS is under scrutiny by DOGE and that changes are to come to the IRS. As we all have to file tax returns, pay taxes and be subject to enforcement of the tax laws, now is the time to prepare and seize opportunities to save. Advantages To...
District Court Reinstates Corporate Transparency Act Enforcement
Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Back In Force. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29, 2022 issued a final...
Can You Go To Jail For Not Filing Tax Returns? Beware this can happen to you.
A man who did not file tax returns for 4 years in a row pleaded guilty before a Federal District Court Judge to evading his income taxes and now must serve 8 months in jail. As reported on October 24, 2024 by the Department Of Justice in a press release, from 2018...
Now That Pam Bondi Is Serving As Attorney General In Trump’s Second Term, How Will The U.S. Attorneys’ Office Support Or Hinder The Cannabis Industry?
During President Trump’s 2016 campaign, he supported medical marijuana and deferred recreational use decisions to individual states. However, his first administration took a stringent approach, with then Attorney General Jeff Sessions rescinding Obama-era guidelines...
Six Common Myths About The Dreaded IRS Tax Audit
Filing taxes is punishment enough without the vague threat of an IRS audit looming over our heads. For understandable reasons, the IRS insists on keeping the ins and outs of its auditing process on the murky side. How will you catch the bad guys if you give them the...
Supreme Court Allows Corporate Transparency Act Enforcement
Requirement For Banks & Financial Institutions To Report Beneficial Ownership Information Of Entity Accountholders Back In Force By The Highest Court. The Federal government in its efforts to crack down on illicit finance and enhance transparency on September 29,...