Updated Feb. 28: On Feb. 27, FinCEN announced that it will not issue any fines or penalties or take any other enforcement actions against any companies based on any failure to file or update beneficial ownership information (BOI) reports by the current deadlines. No fines or penalties will be issued and no enforcement actions will be taken until […]
FinCEN Pauses BOI Reporting Enforcement, Will Extend Deadline Read More »
BRENTWOOD, Tenn. – On Tuesday, Feb. 18, the Tennessee Society of CPAs (TSCPA) hosted members from across the state at the Capitol for the society’s annual Day on the Hill event. Throughout the day, TSCPA members met with legislators to discuss issues of importance to the CPA profession in Tennessee. In their meetings with legislators,
Tennessee Society of CPAs Hosts Day on the Hill Read More »
In this issue: Making Retirement Secure: Tennessee’s Use of the Saver’s Tax Credit and How the SECURE 2.0 Act Can Increase Its Utilization Bridging the Gap: New CPA Licensure Legislation To Address the CPA Shortage Accounting and Auditing – Reviewing Proposed ASUs as We Begin 2025 Report From the Interim Meeting of Council State Tax
January/February 2025 Tennessee CPA Journal Read More »
https://www.journalofaccountancy.com/news/2025/feb/boi-reporting-deadline-extension-passes-us-house.html.html
BOI reporting deadline extension passes US House Read More »
TSCPA has stayed at the forefront of the national discussions related to talent shortages and the factors contributing to the decreasing number of accounting professionals across the U.S. Last fall, Chair Kelly Crow appointed the Human Capital Strategy Task Force. This 10-member task force was charged with studying and developing recommendations on how TSCPA should
Bridging the Gap: New CPA Licensure Legislation To Address the CPA Shortage Read More »
https://www.journalofaccountancy.com/news/2025/feb/boi-smith-case-fincen-motion-to-stay.html
FinCEN hints at BOI reporting changes in court filing Read More »
In light of a recent federal court order, the Financial Crimes Enforcement Network (FinCEN) has clarified that companies covered by the Corporate Transparency Act’s (CTA’s) beneficial ownership information (BOI) reporting requirement are not currently required to file BOI reports with FinCEN. Also, they are not subject to liability if they fail to file BOI reports
BOI Reporting Remains on Hold Read More »
https://www.irs.gov/newsroom/treasury-irs-request-comments-on-proposed-regulations-and-a-draft-form-for-certain-corporate-separations-and-reorganizations
https://www.irs.gov/newsroom/treasury-and-irs-issue-final-rules-identifying-certain-partnership-related-party-basis-shifting-transactions-as-transactions-of-interest
https://www.irs.gov/newsroom/irs-announces-jan-27-start-to-2025-tax-filing-season-agency-continues-historic-improvements-to-expand-enhance-tools-and-filing-options-to-help-taxpayers