In a surprising turn of events, a federal appeals court has issued another ruling that suspends a requirement for businesses to file reports about their beneficial ownership information (BOI). This came just days after the same court issued a ruling that resulted in the federal government announcing that millions of small businesses did have to file BOI reports by January 13, 2025.

Brinker Simpson & Company is excited to share that Michael Simpson, CPA, CVA, and Managing Partner of our firm, was recently featured on Winding River Consulting’s Making Waves podcast. In this insightful episode, host David Toth delves into Michael’s leadership journey and his efforts to drive growth, foster innovation, and navigate the complexities of succession within our $14 million firm.

If you file Schedule C (Business) or Schedule E (Real Estate), you’re responsible for issuing 1099s for certain payments. The IRS treats these filings the same as larger businesses, so it’s essential to understand the requirements.

As we approach the end of the year, it’s time to start thinking about 1099 filings. The January 31st deadline is fast approaching, and preparing early can save you time and stress. Here’s what you need to know to ensure your business stays compliant.

Attention businesses: The U.S. District Court for the Eastern District of Texas has issued a preliminary injunction suspending the enforcement of the Corporate Transparency Act's (CTA) Beneficial Ownership Information (BOI) reporting requirements, effectively delaying the January 1, 2025 compliance deadline.

As part of our commitment to keeping you informed, here’s what you need to know about BOI filing requirements for dissolved and withdrawn companies to stay compliant and avoid penalties.