Latest News

FinCen 2024 New Beneficial Ownership Reporting Requirements

In 2022, the Department of Treasury's Financial Crimes Enforcement Network (FinCEN) issued new regulations related to the Corporate Transparency Act (CTA), one of the main anti-money laundering laws in the United States. What is the purpose of the BOI reporting requirements? According to Congress, federal legislation providing for the collection of beneficial ownership information is needed to protect national... Read More

IRS Warns of Employee Retention Credit Scams

As fraudsters continue to try to find new ways to profit off of unsuspecting taxpayers, the IRS has now added schemes related to the Employee Retention Credit (ERC) to their list of "dirty dozen tax schemes." We have previously reported on the ERC, a legitimate tax credit that can be claimed by many businesses that retained employees despite a significant decrease in revenue due to COVID-19. However, many... Read More

Foreign Direct Investment in U.S., BE-12 Benchmark Survey

The BE-12 benchmark survey is BEA's most comprehensive survey, in terms of both the number of companies covered and the amount of information gathered, on foreign direct investment in the United States. The survey is conducted once every 5 years in place of the BE-15 annual survey. The BE-15 annual survey is conducted during the 4 years in between benchmark surveys. With 2022 being a survey year and deadlines... Read More

IRS Extends Deadlines for Florida

The IRS has announced extended deadlines for Florida residents and businesses who were affected by Hurricane Ian. Individuals or households that reside in Florida or have a business in Florida are eligible for the relief. Certain deadlines that fall after September 23, 2022, and before February 15, 2023, are now postponed to February 15, 2023. Individual extensions - Individuals who reside in Florida who... Read More

CHIPS and Science Act

On August 9, 2022, President Biden signed the CHIPS and Science Act into law. The $280 billion package is designed to boost domestic semiconductor production; strengthen American manufacturing, supply chains and national security; and invest in research and development, science and technology. Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Fund - The Act will provide $52.7 billion... Read More

Inflation Reduction Act Signed into Law

On August 15, 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA) into law. The $437 billion package is designed to combat inflation, invest in energy production and manufacturing, and minimize carbon emissions. The IRA will invest approximately $300 billion in deficit reduction and $369 billion in energy security and climate control programs in the next decade. There are several key... Read More

Key Senators Reach Agreement to Pursue the Inflation Reduction Act of 2022

Key Senators Announced a Deal to Pursue the Inflation Reduction Act of 2022 Many Potential Tax Changes Included On July 27, 2022, Senator Schumer and Senator Manchin announced a deal on updated legislation known as the Inflation Reduction Act of 2022 (IRA). The primary focus of this Act is to combat inflation, invest in energy production and manufacturing, and minimize carbon emissions.... Read More

Business Registration and Third Party Solicitation

Georgia laws require every corporation, limited liability company, and limited partnership authorized to transact business in the state to file an annual registration. This registration can be filed directly through the state for $50 or through the company's registered agent. Be aware that there are third-party companies sending official-looking letters regarding the filing and potential penalties. While these... Read More

Build Back Better Act Passes House, Awaiting Senate Approval

On November 19, 2021 the House of Representatives passed the Build Back Better Act (BBA). This version of the act is far different from the original. While there still could be changes as the act moves through the Senate, here is a brief overview of what was approved by the House. Individual Provisions The original act included an increase to the top rates for both individual tax rates and... Read More