FinCEN Form 114, also known as the Report of Foreign Bank and Financial Accounts (FBAR), has been used to combat tax evasion and money laundering since 1970.…
Category: Uncategorized
June 25, 2024
Expiring Provisions of the Tax Cuts and Jobs Act
The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, provided tax changes that offered relief for businesses and high-income individuals. One of the main goals…
January 30, 2024
Current and Upcoming Tax Law Changes
Whether you are preparing to file your 2023 tax return or are planning for 2024 on, it is imperative to review the effects of changes to tax…
January 8, 2024
Corporate Transparency Act: Beneficial Ownership Information Reporting
The Corporate Transparency Act (“CTA”) was enacted January 1, 2021, as part of the National Defense Authorization Act, representing the most significant reformation of the Bank Secrecy…
August 31, 2023
2023 Updates to Gift Taxes and Annual Exclusion Amounts
The annual gifting exclusion limits set by the IRS determine the maximum amount of money or assets that an individual can give to another person without triggering…
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