Tony featured on wjtv - 2025
4/15 is almost here! Check out some final information on what is needed before the deadline.
Walt Grayson WJTV and Tony caught up yesterday to discuss IRS payment plans and an overview of gift giving as it relates to tax planning.
Tony caught up with Melanie Christopher on 3/12/25 and explained some little-known information about charitable giving / donations. Check out this Daily 'Sip Tony's Tax Tips segment.
Tony has been featured on weekly Daily SIP segments on WJTV discussing this year’s tax season. This segment is focused on retirement benefits, including an explanation of Required Minimum Distributions.
Tony has been featured on weekly Daily SIP segments on WJTV discussing this year’s tax season. This video explains the ins and outs of e-filing.
Tony has been featured on weekly Daily SIP segments on WJTV discussing this year’s tax season. This is Week #1.
Tony has been featured on weekly Daily SIP segments on WJTV discussing this year’s tax season. This is Week #2.
important boi/cta information
as of now, the boi is in litigation and delayed indefinitely
Because of the importance of this information provided below, we are sending to all clients to ensure that you have been notified of the Beneficial Ownership Information (BOI) guidelines as it might relate to any financial interest you may have in entities covered by the Corporate Transparency Act (CTA). It is incumbent upon you to determine your obligations under the CTA/BOI. Typically, if you have no direct ownership interest in an LLC, Partnership, Corporation, etc., you will have no filing requirements, but we are notifying you nonetheless of these new rules. We are unable to provide you with guidance on your obligations under the CTA.
Federal law now requires FinCEN filing for Beneficial Ownership Information, which is the reporting of ownership for certain types of entities (such as LLCs, corporations, partnerships, and other entities created by filing a document with a secretary of state office or similar office). The Financial Crimes Enforcement Network (FinCEN) is a part of the U.S. Department of Treasury, which helps prevent illicit financial activities. The legislation requires certain businesses to file a Beneficial Ownership Information Report (BOI report, that identifies those parties who own or are integral to a business) to monitor and prevent crimes.
Exemptions exist for certain entities, including:
Publicly traded companies.
Entities regulated by specific federal or state bodies, such as banks, credit unions, and insurance companies.
Check the FinCEN website to see if your type of entity is exempt.
If your entity is not exempt and was created before January 1, 2024, you have until January 1, 2025 to file your entity’s initial report.
If your entity is not exempt and was created after January 1, 2024, you will have 90 days to file after receiving notice that the creation is effective.
Starting January 1, 2025, all new entities (that are not exempt) will have 30 days to file after receiving notice that the creation is effective.
Any individual the reporting company/entity authorizes to act on its behalf (employee, owner, or third-party service provider) may file a BOI report. When submitting the report, filers will need to provide basic information such as the name, address, email address, phone number of beneficial owners (defined as any individual who, directly or indirectly, exercises substantial control over the entity or owns or controls at least 25% of the ownership interests of the entity). He or she will also need the entity’s Tax Identification Number/EIN, and a copy of the person who is filing and beneficial owner(s)’ identification card (driver’s license, state/local ID, or passport). Entities are not required to file a report annually. Companies must file an initial report and updated BOI reports as needed.
Be sure to review FinCEN’s Small Entity Compliance Guide, which provides information to help small businesses comply with this reporting requirement.
There is no fee to submit your report to FinCEN. To go about your filing, follow these steps:
Select “File BOIR” (Blue Square)
Select which way you would like to file (PDF or Online
Answer relevant questions.
As specified in the Corporate Transparency Act, a person who willfully violates the BOI reporting requirements may be subject to civil penalties up to $500 per day that the violation continues. He or she can also be subjected to criminal penalties of up to two years imprisonment and a fine of up to $10,000.
Violations include willfully failing to file a BOI report, willfully filing a false BOI report, or willfully failing to correct/update a previously filed BOI report.
The BOI information to be reported arises from determinations that are primarily legal in nature. For various reasons, including concerns regarding the potential for the unauthorized practice of law, Huffman & Company, CPA, P.A. is unable to prepare these forms or assist clients in preparing these forms. Please contact your attorney to see if this reporting requirement applies to you. For more information please visit: www.fincen.gov/boi-faqs.
The information provided in this notice is a summary of certain key provisions of the Corporate Transparency Act and should not be relied upon as a substitution for legal advice nor construed as legal advice being provided by Huffman & Company, CPA, P.A.
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Areas of Practice
Since our formation, Huffman & Company, CPA, P.A. has grown to a staff of ten, of which two are Certified Public Accountants. The Firm services nearly 1,000 individual and small business clients. Industries served include: video and film production, construction, auto service, medical, publishing, retail, manufacturing, restaurant, real estate, charitable/financial planning, not-for profits, advertising, legal, insurance, hair salon, and more.