FinCEN clarifies rules and issues agenda

A significant part of the U.S. Treasury Department’s new semiannual agenda relates to its Financial Crimes Enforcement Network (FinCEN). FinCEN intends to clarify some Bank Security Act rules, including requiring banks and money service businesses to submit reports, keep records and comply with “know your customer rules” for transactions involving virtual currency. It also plans […]

California, Georgia and Alabama Disaster relief announced

Residents and business owners in federally declared disaster areas of California, Georgia and Alabama, take note: The IRS has extended the federal tax deadline to Oct. 16, 2023. (The previous deadline was May 15, 2023.) This extended relief applies to individuals, businesses, exempt organizations and farms that would usually file this spring. It also covers […]

There still may be time to make an IRA contribution for last year

If you’re getting ready to file your 2022 tax return, and your tax bill is higher than you’d like, there may still be an opportunity to lower it. If you’re eligible, you can make a deductible contribution to a traditional IRA right up until this year’s April 18 filing deadline and benefit from the tax […]

COVID tax credits still available

Attention small business owners! Did you know that you may still be able to claim COVID-19 tax credits that were available to certain employers during the pandemic? Indeed, while the dates to claim COVID-19 credits have passed, it’s still possible for a small employer that previously filed Form 944 to file Form 944-X “Adjusted Employer’s […]