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Beware of Internet Scams from the "IRS"

If you receive anything about a financial topic that is unsolicited, be extremely cautious. This includes email and written notices

Over the past few years, scam artists have become more creative and nefarious. There are many that claim to be from a government organization, and are telling you that you absolutely need to click on a link, or open a "PDF", to solve your problem.

At best, the link tries to sell you something, at worst your computer is compromised with a virus.

Here is the quote direct from the IRS:

BOI Filing No Longer Required for U.S. Entities

FinCEN has issued an interim final rule exempting domestic (U.S.) companies from Beneficial Ownership Information (BOI) reporting under the Corporate Transparency Act. Only foreign reporting companies must file, with a new 30-day deadline. U.S. persons are also exempt from providing their information to foreign entities.

Reference:

Department of the Treasury, FinCEN – Interim Final Rule on BOI Reporting Requirements (31 CFR §1010.380; RIN 1506-AB49), published March 2025.

BOI: Battle Over Injunctions?

As of December 26, 2024: filing deadline is not enforced, but this is likely to change again.

  • December 3, 2024: The U.S. District Court for the Eastern District of Texas issued an order enjoining enforcement of the Corporate Transparency Act (CTA) and its Reporting Rule. (Texas Top Cop Shop, Inc. v. Garland, No. 4:24-CV-478, 2024).
  • December 5, 2024: The same court denied the Government's motion to stay the preliminary injunction. (Texas Top Cop Shop, Inc. v. Garland, 2024 WL 5049220).

  • December 17, 2024: The district court again denied the Government's request to lift the injunction, leaving the CTA's enforcement blocked. (Texas Top Cop Shop, Inc. v. Garland, 2024 WL 5145951).

  • December 23, 2024: A motions panel of the Fifth Circuit Court of Appeals granted the Government’s emergency motion for a stay pending appeal, effectively reinstating the enforcement of the CTA and Reporting Rule. The panel also expedited the appeal for the next available oral argument. (Texas Top Cop Shop, Inc. v. Garland, No. 24-40792, 2024 WL 5203138).

  • December 26, 2024: The Fifth Circuit Court issued an order vacating the motions-panel's stay that had allowed enforcement of the CTA. This decision reinstated the district court's injunction, pausing enforcement again. The appeal remains expedited, and a briefing schedule is forthcoming. (https://www.ca5.uscourts.gov/opinions/unpub/24/24-40792..pdf<)

Business Expense Worksheet For Schedule C or Form 2106

Business Expense Report for Schedule C or Form 2106 Self-Employed or Employee

Business Sale & Acquisition Analysis

Interested in moving on to something more profitable? Worried about getting aboard a sinking ship? We can make the process as smooth as possible with our consulting and planning services.