Navigating the Corporate Transparency Act: Key Deadlines and Compliance Tips

The Forbes Tax Breaks newsletter discusses the low compliance rate with the Beneficial Ownership Information (BOI) reporting requirement, with only 20% of businesses having filed with FinCEN. The newsletter also covers potential changes to the Tax Cuts and Jobs Act provisions set to expire in 2025, including the state and local tax deduction cap. Additionally, it addresses the potential rollback of green tax incentives, such as the electric vehicle tax credit, under President-elect Donald Trump. The newsletter highlights the ongoing debate over the taxation of Social Security benefits and provides updates on tax deadlines and events.