In a turn of events, a federal appeals court issued another ruling that suspends a requirement for businesses to file reports about their beneficial ownership information (BOI). This came just … Continued

On December 23, 2024, the Fifth Circuit Court of Appeals granted a Department of Justice motion to lift an injunction put in place by a district court ruling on December … Continued

New beneficial ownership information (BOI) reporting requirements that many small businesses were required to comply with by January 1, 2025, have been suspended nationwide under a new court ruling. However, businesses … Continued

The IRS has issued its 2025 inflation-adjusted contribution amounts for retirement plans in Notice 2024-80. Many retirement-plan-related limits will increase for 2025 — but less than in prior years. Thus, depending … Continued

The Corporate Transparency Act (CTA) was enacted into law as part of the National Defense Act for Fiscal Year 2021. The CTA requires the disclosure of the beneficial ownership information … Continued

If you are a Delaware employer with 5 or more employees, please pay careful attention to the following information regarding the Delaware EARNS program. The Delaware EARNS (Expanding Access for … Continued

The U.S. Department of Labor (DOL) has issued a new final rule regarding the salary threshold for determining whether employees are exempt from federal overtime pay requirements. The threshold is … Continued

The Inflation Reduction Act (IRA) established and expanded numerous incentives to encourage taxpayers to increase their use of renewable energy and adoption of a range of energy efficient improvements. In … Continued

President Biden has released his proposed budget for the 2025 fiscal year, which includes numerous tax provisions affecting businesses and individual taxpayers. While most of these provisions have little chance … Continued

Does your business file 10 or more information returns with the IRS? If so, you must now file them electronically. This is a significant rule change that went into effect … Continued