General Archives - Meara Welch Browne, P.C.

Significant Update – BOI Reporting Enforcement SUSPENDED against US Citizens and DOMESTIC Reporting Companies

The US Department of the Treasury has announced a major development regarding the Corporate Transparency Act and beneficial ownership interest (BOI) filing requirements. It is suspending enforcement against US citizens and domestic reporting companies. For more information, see the press release below: PRESS RELEASES Treasury Department Announces Suspension of Enforcement of Corporate Transparency Act [...]

By Meara Welch Browne|2025-03-03T11:28:51-06:00March 3rd, 2025|Financial, General|Comments Off

LATE-BREAKING DEVELOPMENT –BOI Reporting Requirements Are Once Again Back in Effect with a Deadline of March 21, 2025 For Most Filings

On Monday, February 17, 2025, the Federal District Court in Smith v. U.S. Department of Treasury lifted the injunction that was preventing enforcement of the beneficial ownership interest (BOI) filing requirements. The Financial Crimes Enforcement Network (FinCEN) promptly issued an alert on its website confirming that the reporting requirements are back in effect and announcing [...]

By Meara Welch Browne|2025-02-19T14:28:48-06:00February 19th, 2025|Financial, General, Tax|Comments Off

LATE-BREAKING DEVELOPMENT – US Supreme Court allows BOI Reporting enforcement

Today, in a short, unsigned order, the US Supreme Court granted the government’s request to implement the Corporate Transparency Act (CTA), which potentially revives the Beneficial Ownership Interest (BOI) reporting requirement for many businesses. An estimated 32 million existing entities and an estimated 5 million new businesses annually could need to report information about their [...]

By Meara Welch Browne|2025-01-24T09:29:28-06:00January 24th, 2025|General|Comments Off

Julie Welch Quoted in AARP Story on 7 Year-End Money Moves to Cut Your 2024 Tax Bill Posted on December 17, 2024

Julie Welch, Tax Partner at Meara Welch Browne, was recently quoted in AARP’s insightful article, “7 Year-End Money Moves to Cut Your 2024 Tax Bill”, written by Diane Harris. The article highlights key year-end strategies that can help older taxpayers significantly reduce their 2024 tax liability. From maximizing retirement contributions to managing required minimum distributions [...]

By Meara Welch Browne|2024-12-17T11:20:58-06:00December 17th, 2024|General, Tax|Comments Off

LATE-BREAKING DEVELOPMENT – Court issues nationwide preliminary injunction potentially affecting 12/31/24 BOI reporting deadline

Texas Court blocks the Corporate Transparency Act and may eliminate the requirement to report Beneficial Ownership Interests The US District Court for the Eastern District of Texas issued a NATIONWIDE preliminary injunction against the enforcement of the Corporate Transparency Act (CTA) on December 3, 2024. This preliminary injunction potentially affects the December 31, 2024 deadline [...]

By Meara Welch Browne|2024-12-09T08:31:57-06:00December 9th, 2024|General|Comments Off

Critical Deadline Approaching: Beneficial Ownership Information (BOI) Reporting Requirements Under the Corporate Transparency Act

Many Entities Still Need to File Beneficial Ownership Information (BOI) Before December 31, 2024 Of the estimated 32 million existing entities that need to report information about their beneficial owners - the individuals who ultimately own or control the company - to the Financial Crimes Enforcement Network (“FinCEN”) before December 31, 2024, only 6.5 million [...]

By Meara Welch Browne|2024-12-09T08:29:22-06:00December 9th, 2024|General|Comments Off

Congratulations to Julie Welch for being named Top 200 CPAs in 2024!

“I have no use for bodyguards, but I have very specific use for two highly trained certified public accountants,” Elvis Presley once said. Julie Welch was named to the Forbes America's Top 200 CPAs. Read more about the candidates here.

By Cara Smith|2024-04-16T15:38:35-06:00April 16th, 2024|General, Uncategorized|Comments Off

Important Update – New Beneficial Ownership Information Reporting is held Unconstitutional

A March 1, 2024 ruling by the Federal District Court (United States District Court Northern District of Alabama Northeastern Division) declared the Corporate Transparency Act (CTA) as unconstitutional because it cannot be justified as an exercise of Congress’ enumerated powers. The case, National Small Bus. United v. Yellen, was initiated by the National Small Business [...]

By Cara Smith|2024-03-05T18:12:43-06:00March 5th, 2024|General|Comments Off

New Beneficial Ownership Information Reporting Requires Action in 2024 For Both New and Existing Companies

An estimated 32 million existing entities will need to report information about their beneficial owners - the individuals who ultimately own or control the company - to the Financial Crimes Enforcement Network (“FinCEN”) before December 31, 2024. Most small and medium-size businesses created in or registered to do business in the United States will be [...]

By Cara Smith|2023-12-08T12:22:13-06:00December 8th, 2023|General|Comments Off

Sid Kess – Accountant, Educator, Mentor, Friend

Sidney Kess peacefully passed away on September 15, 2023 at the remarkable age of 97. He remained dedicated to his work, contributing to conferences, writing articles, and nurturing connections with people until his very last moments. Sid’s enduring commitment served as a wellspring of inspiration to countless individuals in the accounting profession. We will forever [...]

By Julie Welch|2023-09-19T15:16:29-06:00September 19th, 2023|General|Comments Off