Dec 26, 2024
In light of the Fifth Circuit’s decision to reinstate the Corporate Transparency Act (CTA), the federal government has extended the January 1, 2025 reporting deadline. The government’s updated guidance, which was published by the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), can be found on FinCEN’s Beneficial Ownership Information (BOI) website.
The most notable deadline extension applies to reporting companies created or registered prior to January 1, 2024. Those entities now have until January 13, 2025 to file their initial BOI Reports. That same extension applies to reporting companies created or registered on or after September 4, 2024 (i.e., entities that would have been required to file BOI Reports during the period in which the CTA was subject to a nationwide preliminary injunction). Reporting companies created or registered during the period spanning December 3, 2024 to December 23, 2024 will also enjoy a brief extension. According to FinCEN, those entities will have an additional 21 days from their original filing deadline to file their initial BOI Reports.
This story is rapidly evolving. In the coming days and weeks, we expect to see additional court challenges and a likely appeal to the Supreme Court of the United States. We will continue to monitor the situation and provide updates as they become available.
©2024
May 08, 2025
Business plans have to be flexible because they need to be adaptable to factors that could affect them in the future. That's why management always has to be on the lookout. Read through for some advice on creating strategic business plans in the post-COVID-19 world.
May 07, 2025
While mandatory retirement policies have largely been abolished, some still affect certain professions and perpetuate age-related stereotypes. Advances in medical care and healthier lifestyles allow many workers to remain productive well beyond traditional retirement ages. Read through to explore the challenges and opportunities involved in replacing outdated policies with fairer, capability-based approaches.
May 06, 2025
Every year, the IRS adjusts the limits for Health Savings Accounts. Whether you're an individual or a company sponsoring one, these changes can make a difference in your 2026 financial planning. Read through for the specific changes—which this year are relatively minor.
May 05, 2025
Employees keep knocking on your door, needing a cash advance. You want to help them but it’s a huge headache. Read through to learn about a payroll add-on to help you and your employees.
Apr 10, 2025
In 2024, a major IT outage affected 8.5 million computers and effectively shut down some businesses for days. Read here to learn how to protect your company should something like this happen again.
Apr 09, 2025
Employer-sponsored health insurance is expected to remain a dominant part of benefits packages for working families, though affordability and access to care seem to prevail. Read through to learn about the future of employee health insurance.
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