94. BOI Report - Beneficial Ownership Information Reports!

There is a new law in effect that requires 

ALL the business owners in the US to register their information with the U.S. Treasury Financial Crimes and Enforcement Network (FINCEN). 

If your business was opened before January 1st, 2024, you have until 12/31/2024 to file your BOI Report with FINCEN. 

If you opened your business after 01/01/2024 you have 90 days to file a report. The reports are completed online. 

This report requires businesses to disclose the owners, partners, managers, and senior officers of their businesses to the U.S. Govt. 

If you have a Corp, Inc or LLC, you are likely required to file the BOI report for your entity.

Additionally, any change in ownership, addresses, or other material changes in each entity will have to be reported and updated moving forward.

The goal of this new law is to combat international money laundering, financial fraud, and terrorism. 

Willful failure to file this report can result in penalties of $500/Day and up to two years jail time!

Do not delay, contact us today!

Phone (800) 913 – 0809 SMS message (224) 676 – 3577 Email Contact@unitedstatestaxservices.us M-F 9 am – 6 pm Sa-Su and after hours by appointment only

Regards, Ilona Dovidaitiene, EA

Enrolled to practice before the IRS