Clearing up BOI confusion and other tax advocacy updates

Melanie Lauridsen, vice president–Tax Policy & Advocacy for the AICPA, returns as a guest on the JofA podcast to update listeners on the focus areas of tax advocacy.

Her team is paying close attention to employee retention credit claims, beneficial ownership information (BOI) reporting requirements, and IRS contingency plans in the event of a government shutdown.

Resources:

• January advocacy conversation with Lauridsen on the JofA podcast
• JofA coverage of the federal court opinion holding the Corporate Transparency Act unconstitutional and the appeal of that court decision
• Tax Section landing page, with extensive resource library on topics mentioned, including resources specific to the employee retention credit

What you’ll learn from this episode:

·         Recent developments related to BOI reporting – who has to file reports and who doesn’t.

·         Why BOI reporting often falls to tax practitioners.

·         The differences between BOI requirements and the customer due diligence rule.

·         Why March 22 is important as it relates to government funding.

·         Lauridsen’s analysis of a tax bill now with a congressional committee.