MJ Dougherty IV, CPA, PLLC

07/23/2025

If you're ever in doubt, you can send me a message with a screenshot and I'll let you know. Even if you aren't a current client.

Beware of phishing schemes aimed at stealing your identity through fake emails, including those directing you to click on fraudulent links to obtain your tax documents or “account summary.” See: www.irs.gov/phishing

06/20/2025

We have just over 6 months left in the year. It's easier to find a CPA in the off-season than it is on April 14th, so get in touch today so you can be ready to go February 1st.

02/24/2025

BOIR update - Mandatory filing is back in effect with a new deadline of March 21, 2025.

In better news, FinCEN has announced it will asses its options to further modify deadlines and intends to revise BOIR rules to reduce the burden for lower risk entities, such as many U.S. small businesses, but for now, March 21, 2025 is the important deadline.

If you're not an existing client, contact me today to get this filed. All existing clients are already compliant with BOIR.

Send a message to learn more

02/14/2025

Get them what they really want this Valentine's day.

Taxes handled by a CPA

12/28/2024

Another day, another BOIR update.

Mandatory filing has once again been temporarily suspended due to another injunction. As of right now, no BOIR are required and no penalties are being assessed. Any reporting is voluntary at this point, though I expect it to be mandatory again.

Send a message to learn more

12/27/2024

It's almost tax season!

Are you looking for a CPA? Send me a message here on Facebook, an email to [email protected], or visit my website www.mjthecpa.com and submit a contact request form.

12/24/2024

Hot off the press BOIR update, literally announced 5 minutes ago, the injunction has been lifted and all reports previously due Jan 1, 2025 are extended to Jan 13, 2025.

If you're a current client of mine, you're already covered and have nothing to worry about. All new or prospective clients, please contact me ASAP.

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12/08/2024

BOIR breaking update: current litigation is ongoing and a stay order has been issued by a federal District court in Texas. FinCen has issued a notice stating that they have appealed the decision but will comply with the stay order, so all BOIR are now considered voluntary with no penalty if they are late. Stay tuned as this develops.

CPA opinion: given previous courts have upheld the reporting requirements, this will likely be overturned and BOIR should be voluntarily filed with this expectation in mind.

As a reminder, this affects many businesses, especially small businesses, as there are very few exclusions. Contact me if you need to get it filed.

11/27/2024

BOI Reports are due Jan 1, 2025. Have you filed yours? Do you need someone to file it for you? Contact me today and I can get you taken care of.

What is this?
The BOI report is a Beneficial Ownership Interest report. It is a federally required report listing the ownership interests for domestic entities in existence as of Jan 1, 2024 and is due by January 1, 2025. This is a separate reporting requirement from any tax returns.

What if I don’t file?
There are significant criminal penalties assessed for ignoring this requirement. These start at $500 per day and increase to up to $10,000 and 2 years imprisonment.

How much does it cost to file?
You can self-file for free on the FinCen website (https://fincen.gov/boi) or I can file it for you for a fee.

Send a message to learn more

07/26/2024

Did you forget to file a return or extension? If you owe money, the IRS will come knocking soon, they don't forget. Let's get it filed and help lessen the impact of filing late.

If you filed a 1040 extension back in April, you're just over halfway through your 6 months. Individual returns are due October 15th, 2024.