Journal of Accountancy Podcast 'A big tax year': What practitioners need to know now
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Jan 30, 2025 
Melanie Lauridsen, AICPA's vice president of Tax Policy & Advocacy, dives into the current tax landscape. She highlights crucial updates on Beneficial Ownership Information reporting and recent court cases impacting tax professionals. Lauridsen discusses the challenges posed by an IRS hiring freeze and its effects on tax season. The conversation also touches on proposed changes to Circular 230 regulations and anticipates a dynamic year for tax legislation, with discussions focusing on both comprehensive reforms and incremental changes.
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BOI Reporting Confusion
- BOI reporting has been a confusing rollercoaster due to court cases and injunctions.
- The Supreme Court lifted one injunction, but another remains, making reporting voluntary.
Prepare for BOI Filing
- Gather BOI information from clients and be prepared to file.
- The AICPA supports a delay but not a repeal of the Corporate Transparency Act.
BOI's Impact on CPAs
- BOI reporting, while not a tax issue, affects CPAs because clients seek their advice.
- This expands the issue's reach beyond tax professionals.