Author: Allison Stevens

FinCEN Beneficial Ownership Reporting

December 8, 2023 by Allison Stevens
Tax Services
The Corporate Transparency Act from 2021 (CTA) created new reporting requirements that will impact many businesses.  Certain companies will need to disclose their beneficial owners through filings with the Financial Crimes Enforcement Network (FinCEN) beginning on January 1, 2024.  The report will be filed through FinCEN’s website ( Who is...
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Minnesota Pass-Through Entity Tax

December 15, 2021 by Allison Stevens
Tax Services
This past summer, Minnesota enacted a new passthrough entity (PTE) tax for years beginning after December 31, 2020.  This entity-level tax is considered a workaround for the federal $10,000 state and local tax deduction limitation (SALT limitation) imposed on individuals who itemize deductions on their personal income tax returns.  Many...
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IRS Postpones April Deadline

March 30, 2021 by Allison Stevens
Copeland Buhl
The IRS has postponed the April 15, 2021 deadline for individual taxpayers to May 17, 2021.  This covers both the tax return itself (Form 1040) and the payment of any 2020 balances due. Minnesota has also pushed back the due date until May 17 for individual taxpayers. In addition, the...
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