BOI information:

Update: 1/9/25
I wanted to give you an update regarding Beneficial Ownership Information requirements.

As you know, BOI reporting is based on a new law that went into effect in 2024. It requires most small businesses file a legal report with the federal government to avoid financial penalties ($591/day).

There is currently a court case that has temporarily halted the enforcement of those penalties. The U.S. Supreme Court is currently involved with deciding whether or not the enforcement of BOI Reporting requirements should resume.

It’s possible that the enforcement of BOI Reporting could resume as early as next week.

We’re recommending that companies continue to file their BOI Reports ASAP. Because the potential financial penalties are so large, it’s not worth the risk to be out of compliance. If you need help filing your BOI Report, we have partnered with CTA Integrity to help you. They have legal professionals and attorneys that handle the processing, due diligence, and filing on your behalf. Also, your filing is guaranteed against financial penalties.

See if your business meets the reporting requirements today at ctaintegrity.co/pennypinch.


Update: 1/6/25
Have you filed your BOI Report yet? If not, just a reminder that the special pricing expires soon.

Also…35% of companies file their BOI Report incorrectly. We don’t want you to be one of those subject to a $591/day financial penalty**. We’re trying not to scare you, but instead make sure you take this seriously.

Here’s the good news – we can help. Our partner CTA Integrity has lawyers and legal professionals that handle the processing, due diligence, and filing on your behalf. Your business is protected against financial penalties through their no-fee guarantee. Take 10 minutes and get this done today.

Click this link and use code PENNYPINCH25 to save 25% off the filing fee. Again, this offer expires on 1/31/25.

**Enforcement of these penalties are currently on hold, pending legal proceedings.

Updated Dec 27, 2024:
BOI Reporting update – PLEASE READ

As you may know, earlier this week, a court of appeals removed the pause on the enforcement of BOI Reporting penalties ($591 per day) and extended the deadline for most businesses to January 13, 2025.

Yesterday (December 26), the court reversed their decision from earlier this week and put the pause back in place while they review the case more thoroughly. It’s important to note that BOI Reporting is still being accepted by the federal government. The only change is the enforcement of those penalties if a company doesn’t file by the deadline.

We are recommending business owners still file their BOI Reports by the deadlines. As this is a fluid situation, things can change at any time. A business can be put in a risky position if a BOI Report is not filed by the deadline and the compliance requirements change. As we’ve seen this week, that can change a moment’s notice.

We’ve partnered with CTA Integrity to help you with your BOI Reporting compliance. Their streamlined process takes filing from hours to a matter of minutes and each BOI Report is filed by a licensed attorney and guaranteed against any financial penalties.

Because you’re a client of Penny Pinch Tax, we have special pricing for you. Use code PENNYPINCH25 to receive a 25% discount off their services. This code expires on 12/31/24.

You can see if your business is required ​to file a BOI report for free here:

ctaintegrity.co/pennypinch


Updated Dec 23, 2024:
Beneficial Ownership Information (BOI) Reporting is REQUIRED

Beneficial Ownership Information (BOI) Reporting is required. Most businesses have to file by January 13, 2025 to avoid a $591/day penalty.

On December 23, 2024, an appeal by the federal government was granted to remove a pause on BOI Reporting requirements. BOI Reporting requirements are now in place again. BOI Reporting is a legal filing. It outlines information about the business as well as personal information about its beneficial owners that’s reported to the federal government in an effort to reduce illicit business actiivities.

We’ve partnered with CTA Integrity, a legal services and compliance firm that can help you with your BOI Reporting for your business. Each BOI Report is processed and filed by a licensed attorney and guaranteed against financial penalties so you can have peace of mind knowing your business is protected.

Because you’re a client of Penny Pinch Tax, we have special pricing for you. Use code PENNYPINCH25 to save 25% on filing your BOI Report (expires 12/31/24).

See if your business is required to file a BOI Report at the link below:

ctaintegrity.co/pennypinch