In a significant regulatory change, the Financial Crimes Enforcement Network (FinCEN) has finalized a rule that permanently eliminates Beneficial Ownership Information (BOI) reporting requirements for U.S. companies and U.S. persons under the Corporate Transparency Act (CTA). The final rule became effective upon its publication in the Federal Register on August 11, 2026. Under the revised…
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Tag: 2026 Tax Changes
Understanding IRS Notice CP53E: Why You May Receive a Refund You Shouldn’t Cash (Yet)
A recent Executive Order 14247, “Modernizing Payments To and From America’s Bank Account” has introduced updates to available direct deposit options. Under these changes, individual taxpayers may now be able to provide a new or updated bank account for receiving their tax refund via direct deposit, provided certain conditions are met. If you or your…
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New York Secure Choice Savings Program
What New York Employers Need to Know New York State is rolling out the New York Secure Choice Savings Program, a new retirement savings initiative designed to help employees who do not have access to a workplace retirement plan save for the future. This program will affect many private-sector employers across New York, introducing new…
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2026 Charitable Contribution Tax Law Changes Explained
Beginning January 1, 2026, significant changes to the federal tax treatment of charitable contributions will take effect. These updates impact individual taxpayers across all income levels as well as corporations, altering how and when charitable gifts generate a tax benefit. Understanding these new rules is essential for effective tax planning and informed charitable giving. Charitable…
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