FinCEN official says the reports “track more closely” with businesses created in 2024, which have a tighter deadline to file than businesses created earlier.
AICPA Advocacy
BOI reporting deadlines extended for certain victims of 5 hurricanes
The AICPA had requested that the Financial Crimes Enforcement Network extend reporting deadlines for beneficial ownership information for victims of hurricanes Beryl, Debby, Francine, Helene, and Milton.
Mark Koziel to become CEO of the Association of International Certified Professional Accountants
Mark Koziel, CPA, CGMA, has been named as the next CEO for the Association of International Certified Professional Accountants. Koziel will begin the role in January 2025. He currently leads Allinial Global, an association of independent accounting and advisory firms with $6 billion in collective revenue.
FinCEN offers storm and terrorist attack relief for FBAR filings
The Financial Crimes Enforcement Network extended filing deadlines for reports of foreign bank and financial accounts (FBAR) for people in federally declared disaster areas of five storms. It also is delaying the filing deadline for people affected by terrorist attacks in Israel.
New AICPA apprenticeship program expands accounting talent opportunities
The Registered Apprenticeship for Accounting and Finance Associate program pairs employers and entry-level employees. It expands the AICPA’s apprenticeship offerings.
AICPA, NASBA propose a new pathway to CPA licensure
The CPA Competency-Based Experience Pathway offers an additional option for CPA candidates. Comments on the proposal are being accepted through Dec. 6.
AICPA joins coalition to fight intensifying tax scams, schemes
The Coalition Against Scam and Scheme Threats (CASST), convened at the request of IRS Commissioner Danny Werfel, will work toward having new protections in place by the 2025 filing season.
AICPA, state CPA societies nominate accounting for STEM designation
A letter asks the Department of Homeland Security to add accounting to its STEM Designated Degree Program List in an effort to bolster talent acquisition.
FinCEN uses TV ad to tell businesses about BOI
The PSA uses a chat between friends in a coffee shop to educate small businesses about beneficial ownership information reporting, which 32.6 million businesses must file.
ERC disallowance letters go to 28K businesses, moratorium adjusted
The IRS moved the moratorium date forward into early 2024. Also, it announced sending disallowance letters to some businesses with invalid claims and plans for payments to others.
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SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
