Klupenger Tax Consulting, LLC

02/14/2025

The Department of Homeland Security has asked Treasury Secretary Scott Bessent to deputize IRS agents to help with efforts to crack down on immigration.

02/05/2025

The IRS and Oregon Dept of Revenue offer free direct filing of your tax returns. https://directfile.irs.gov/

https://revenueonline.dor.oregon.gov/tap/_/

11/12/2024

Issue Number: IR-2024-288
Inside This Issue
Many businesses must report beneficial ownership information to Treasury by Jan. 1; free webinar can help

WASHINGTON — The Internal Revenue Service will sponsor a free one-hour webinar designed to help the many businesses that must report their beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network.

Because this is not an IRS or tax-related requirement, FinCEN representatives will conduct the webinar on this new anti-money laundering provision. The webinar will take place on Tuesday, Nov. 19, 2025, beginning at 2 p.m. ET.

Many companies created or registered to do business before Jan. 1, 2024, must e-file their initial beneficial ownership information (BOI) to FinCEN by Jan. 1, 2025. In general, this means reporting the names and other information about the people who own or control the company. Exceptions and special rules apply.

During this free webinar, FinCEN will:

Explain the Corporate Transparency Act.
Provide Beneficial Ownership reporting resources.
Analyze the BOI reporting requirement using the Small Entity Compliance Guide.
Describe what happens if a company does not timely report BOI to FinCEN.
The webinar will also feature a live question-and-answer session. Though primarily aimed at tax professionals, anyone is welcome to attend.

Certificates of completion will be offered, but no continuing education credits are available for this webinar. Closed captioning will also be offered.

Time: 2 p.m. (Eastern); 1 p.m. (Central); 12 p.m. (Arizona and Mountain); 11 a.m. (Pacific); 10 a.m. (Alaska); 9 a.m. (Hawaii and Aleutian) time zones.

Registration: Visit the Internal Revenue Service webinar website. Questions about the webinar can be emailed to [email protected].

For more information about the BOI reporting requirement, including FAQs and a five-minute video illustrating how to file, visit FinCEN’s BOI page.

Send a message to learn more

12/20/2023

The IRS will be sending out notices in January to those that qualify for the automatic penalty relief.

IR-2023-244, Dec. 19, 2023 — In a major step to help people who owe back taxes, the Internal Revenue Service today announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pan...

11/29/2023

Starting January 1, 2024 reporting companies will be required to report the beneficial ownership information to FinCEN.

Discover the latest trends, analysis, and perspectives on diverse legal matters from BakerHostetler.

11/21/2023

IRS allows another year for implementing the new lower 1099-K threshold.

IR-2023-221, Nov. 21, 2023 — Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service today released Notice 2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third party settlement organi...

11/10/2023

Starting January 1, 2024 owners of corporations, LLC's and other entities created through the Secretary of State are required to report the beneficial ownership details on the FINCEN website.

For comments or complaints regarding the beneficial ownership information collection process or regarding the accuracy, completeness, or timeliness of such information, please contact the Department of the Treasury’s Office of Inspector General at [email protected]

11/08/2023

https://www.taxnotes.com/featured-news/behind-scenes-irss-crackdown-wealthy-taxpayers/2023/11/03/7hj0x

Tax Notes is the first source of essential daily news, analysis, and commentary for tax professionals whose success depends on being trusted for their expertise.

04/13/2023

If you haven't filed your 2019 tax return yet, you have until July 17, 2023 to get a refund.

Haven’t filed your 2019 federal income tax return? There’s still time to file and claim your 2019 refund. The deadline is July 17, 2023. If you haven’t filed, there’s still time to claim valuable credits like the Earned Income Tax Credit.

Visit http://ow.ly/FOK150NHq4q for more information.

02/16/2023

If your federal tax refund was lower than you anticipated, you can check your tax withholding with this IRS tool and adjust them through your employer. https://www.irs.gov/individuals/tax-withholding-estimator