On August 30, 2023, the Internal Revenue Service (IRS) provided relief for individuals and businesses affected by Hurricane Idalia in parts of Florida.
Taxpayers have until February 15, 2024 to file various federal individual and business tax returns and make tax payments.
Read more: IRS Provides Relief for Those Impacted by Hurricane Idalia
In 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the beneficial ownership information requirements of the Corporate Transparency Act (CTA). The CTA introduces standardized reporting obligations applicable to specific types of corporations, limited liability companies, and similar entities operating or registered in the United States.
These filing requirements are effective January 1, 2024 and are applicable to new and existing domestic and foreign reporting companies.
Read more: Beneficial Ownership Information Reporting