Welcome to 2024! If you find yourself as the “beneficial” owner of a business, whether it’s an LLC, corporation, or a similar entity, it’s time to gear up for the crucial task of filing your first beneficial ownership report with FinCEN. The primary mission of FinCEN is to safeguard the financial system from illicit activities, such as money laundering and…
Tag: Tax
What’s going on with the IRS?
Here are some truths about tax season this year that are very helpful but at the same time very disheartening: The IRS is very behind on its work and can’t keep up. This is particularly troublesome for people who file paper returns and pay with paper checks. Presently there are over 7 million individual returns and 2.3 million business returns…