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Reporting Requirements Today's Popular Updates Taxpayer Identification Number

Haynsworth Sinkler Boyd, P.A.

Navigating FinCEN Compliance: Quickly Approaching Deadlines for Businesses formed before 2024

A variety of businesses, such as LLCs, LLPs, partnerships, and corporations, formed before January 1, 2024, have until January 1, 2025, to file their initial report with the Department of Treasury’s Financial Crimes...more

Holland & Knight LLP

New FinCEN FAQ Guidance: Taxpayer ID Numbers, Disregarded Entities and Best Practices

Holland & Knight LLP on

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) on July 24, 2024, issued two new FAQs providing guidance on 1) how to obtain a taxpayer identification number (TIN) in a manner to ensure...more

McGlinchey Stafford

FinCEN Update to Beneficial Ownership FAQs and Paycheck Protection Program FAQs

McGlinchey Stafford on

In January 2024, the Financial Crimes Enforcement Network (FinCEN) updated and added to its Frequently Asked Questions (FAQs) on the Beneficial Ownership Information Report (BOI) website. Additionally, on January 12, 2024,...more

McGlinchey Stafford

New IRS Rules for Reporting Non-Employee Compensation

McGlinchey Stafford on

On July 6, 2020, the IRS issued Tax Tip 2020-80 to remind business taxpayers that, commencing with payments made in 2020, they must report any payments of over $600 per year for services by non-employees on Form 1099-NEC (for...more

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