Insights
December 6, 2024
FinCEN has posted an Alert on the Impact of the ongoing litigation. The text of the FinCEN alert is set forth at https://www.fincen.gov/boi and otherwise below:
Alert: Impact of Ongoing Litigation – Deadline Stay – Voluntary Submission Only...
December 4, 2024
This insight provides a brief update on recent litigation regarding the Corporate Transparency Act (CTA) and its reporting requirements. It is not intended to, and does not, provide legal, compliance or other advice to any individual or entity. For an advisory regarding the CTA generally, please refer to our previous insight posted on the website from November 13, 2024...
November 15, 2024
The IRS announced the annual inflation adjustments for 2025.The value of assets that can be passed at death free from the federal estate tax, referred to as the “applicable exclusion amount,” is currently $13,610,000 per person, to increase to $13,990,000 per person in 2025. The federal generation-skipping transfer tax (“GSTT”) exemption tracks the applicable exclusion amount...
November 14, 2024
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued two (2) rules in an effort to help safeguard the residential real estate and investment adviser sectors from illicit finance. The residential real estate rule will require certain industry professionals to report information to FinCEN about non-financed trans...
November 13, 2024
Many companies are required to report information to Financial Crimes Enforcement Network (FinCEN) about the individuals who ultimately own or control them. FinCEN began accepting reports on January 1, 2024. FinCEN launched the Beneficial Ownership Interest (BOI) E-Filing website for reporting beneficial ownership information on January 1, 2024...
November 12, 2024
For matters related to planning in the future, please visit Insights here. Davies Law PLLC will provide insights from time to time. Davies Law PLLC will provide these insights for informational purposes only. The information is not intended to be legal advice and shall not be construed or relied upon as such. Every legal matter is unique, and qualified legal advice should be sought based on the specific fasts of your situation...