BLS Insights

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 reporting of foreign financial assets and accounts has become a familiar part of the federal filing process for many taxpayers. Depending on the circumstances, relevant information must be reported … Continued

President-Elect Trump will take power early next year and it’s still unknown how the tax landscape will change in the coming years. However, businesses have several avenues to explore before … Continued

Many of the Tax Cuts and Jobs Act provisions are set to expire at the end of 2025, absent congressional action. However, with President-Elect Donald Trump set to take power … 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

The IRS has issued its 2025 inflation adjustment numbers for more than 60 tax provisions in Revenue Procedure 2024-40. Inflation has moderated somewhat this year over last, so many amounts will … Continued

Hurricane Helene and Hurricane Milton have affected millions of people in multiple states across the southeastern portion of the country. It’s just some of many weather-related disasters this year. Indeed, … Continued

Early voting for the 2024 election has already kicked off in some states, but voters are still seeking additional information on the candidates’ platforms, including their tax proposals. The details … 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