01/12/2024
Tax Brief for Winter 2024 Regarding BOI Filings
Business BOI Filings with the Financial Crimes Enforcement Network
Our latest blog highlights some important updates from the Department of the Treasury, as it relates BOI (beneficial ownership information) of US businesses. For many businesses, filing BOI details is a mandatory requirement, so please read our post to see if it pertains to your business, and how to proceed.
IRS Accepting Returns, but Not Immediately Processing
The IRS officially begins accepting e-filed documents for personal returns on Jan 29, 2024. While e-filing can begin at that time, returns are likely to sit in queue with no action until the IRS opens for personal returns. The IRS opens for corporations and partnerships on Jan 16, 2024; most state forms are not available until mid-February.
Added Tax Protection for Our Clients
As an added service to our clients, we have added Tax Protection Plus for all of our 1040 filers. This extra protection provides a bolstered supplement to our existing cyber insurance, since it not only provides our clients with identity protection, it also offers $1M in Tax Audit Defense.
https://macoassociates.com/tax-brief-winter-2024-boi-requirements/