New information: On February 19, FinCEN announced that March 21 is the new filing deadline for most companies. This date must be met to avoid penalties of $591/day.
On February 17, the district court in the Samantha Smith case signed an order lifting the injunction. The…
We will have a fuller update in our February News and Updates, which will be out later this month.
The joint committee of AICPA and the National Association of State Boards of Accountancy (NASBA) met in mid-February and reviewed the comments they received about the <a…
Governor Phil Scott Announces Departure of Tax Commissioner Craig Bolio
From the Governor's office: Governor Phil Scott today announced Commissioner Craig Bolio will be leaving his role leading the Department of Taxes at the end of the week and has named Bill Shouldice as the new…
The Dept. of Justice, on behalf of FinCEN, filed a motion to appeal and stay the injunction in the Samantha Smith, et al. v. US Dept. of Treasury BOI case. The motions filed appeal the Court's BOI ruling and request a stay on the current inunction on BOI reporting. Given the recent Supreme Court…
The <a href="https://www.finance.senate.gov/ranking-members-news/crapo-wyden-issue-discussion-draft-to-improve-irs-administration" target="_blank" rel="noopener noreferrer" data-link-type="web">United States Senate Committee on Finance has released a bipartisan discussion draft intended to…
Look for more information in our next Legislative Update, but here is an overview of the Governor's tax proposals that were contained in the budget from Commissioner Bolio. This will get substantial review in the Committee over the next few weeks. You can read more <a…
It was announced January 24 that Justin Wicks, VT CPA member, and Amy Strachan have been appointed to the Vermont Board of Public Accountancy.
Congratulations and look for more info to come!
The Supreme Court granted a stay on the December 5, 2024, order from the Eastern District of Texas relating to BOI (Beneficial Ownership Information) reporting. This means the preliminary injunction has been lifted while the case goes through the appeals process in the Fifth Circuit (and potentially the Supreme…
The BOI reporting requirements continue to change.
December 31, 2024: the Justice Department (DOJ) filed an emergency application with the Supreme Court asking it to stay the district court injunction that is preventing the government from enforcing the CTA and its requirements to report BOI while the…