It's official! The 2024 Tax Season dates have been released.

Let's start planning and make this year's tax season as smooth as possible! Start gathering documents now and make filing a complete and accurate return easier, plus it helps avoid errors that can delay your refund. Make sure to include W-2s, 1099s, other income documents and digital asset transaction records. And for those who had Marketplace coverage in 2023, Form 1095-A is needed to reconcile Premium Tax Credits. Let's get ahead of the game and make tax season a breeze!

Corporate Transparency Act (CTA) goes into effect Jan 1, 2024.

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Companies required to report beneficial ownership information to FinCEN are referred to as reporting companies. There are two types: domestic and foreign. Domestic reporting companies are corporations, limited liability companies, and any other entities created by the filing of a document with a secretary of state or any similar office in the United States. Foreign reporting companies are entities (including corporations and limited liability companies) formed under the law of a foreign country that have registered to do business in the United States by the filing of a document with a secretary of state or any similar office.

Companies will file beneficial ownership information (BOI) reports electronically through a secure filing system available via FinCEN’s BOI E-Filing website (https://boiefiling.fincen.gov). There is no charge to use this service. To be compliant, companies must file their initial BOI Reports by the following deadlines:

  • Companies created/registered before January 1, 2024 will have until January 1, 2025 to file.
  • Companies created/registered within 2024 will have 90 calendar days from actual or public notice that its creation/registration is effective to file, whichever is earlier.
  • Companies registered on or after Jan. 1, 2025 will have 30 calendar days from actual or public notice that its creation/registration is effective to file.
Stay on top of these deadlines to ensure compliance and transparency. To be exact, willful violators of the reporting requirements may be subject to civil penalties of up to $500 per day, and criminal penalties of up to 2 years in jail and a fine of up to $10,000.

Is that the IRS contacting you – or is it a scam?

Some of the most common tax scams are phone calls and emails from thieves pretending to be from the IRS. Here are several tips to help you avoid being scammed.
IRS employees will not:

  • Call demanding an immediate payment.
  • Call you without first sending a bill in the mail.
  • Demand you pay your taxes in a specific way.
  • Ask for credit or debit card numbers over the phone.
  • Threaten to have you arrested.
  • Threaten legal action.
If you receive an inquiry like this, report the incident using:
  • The “IRS Impersonation Scam Reporting” page.
  • The “FTC Complaint Assistant” and include "IRS Telephone Scam" in the comments.