B.A. Harris Blog

Corporate Transparency Act: Beneficial Ownership Information Reporting Requirement

Starting January 1, 2024, a significant number of businesses will be required to comply with the Corporate Transparency Act (“CTA”). The CTA was enacted into law as part of the National Defense Act for Fiscal Year 2021 to help U.S. law enforcement combat money laundering, the financing of terrorism and other illicit activity. The CTA requires disclosure of the beneficial ownership information (otherwise known as “BOI”) for people who own or control a company.

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Will you be REQUIRED to file your W-2’s and 1099 electronically in 2024? Chances are, yes.

Starting in 2024, if you have 10 or more informational returns (W-2,1099-NEC,1099-MISC, etc.), you will be required to file them electronically. This is a significant increase from the 250 returns threshold in prior years, and the penalties for incorrect filing can be costly. The IRS receives billions of returns each year, most of which are electronic. But for the millions of returns that are still paper filed, these new rules are intended to free up staff and resources; improve efficiency; and reduce unnecessary costs associated with paper filing.

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Vote for B.A. Harris - Best Accounting Firm

Dear Valued Clients, We are thrilled to announce that B.A. Harris been nominated for the esteemed title of "Best Accounting Firm” in Idaho Business Review’s 2024 Reader Rankings publication! This recognition is not just a testament to our hard work and dedication, but also a reflection of the trust and support you have consistently shown us over the years. We were so excited to take the top spot in 2023, and we would love to do it again.

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Welcoming You to Our Newly Expanded Office Suite: Renovations Complete!

Dear Valued Clients and Partners, We are thrilled to announce that our office suite expansion and renovations have come to a successful conclusion! After months of hard work and dedication, we are excited to open our doors and invite you to experience our enhanced workspace. The decision to expand and renovate our office suite was driven by our commitment to providing you, our valued clients and partners, with the best possible service.

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We’re Expanding!

Dear Valued Clients, We are very excited to share that we are expanding our office space! Our current office suite was completed in 2019 and we have outgrown it. The expansion project will combine the adjacent vacant suite to our existing space, allowing us to continue to support our growing staff and clients! This expansion requires some remodeling of our current suite. For the safety of our staff and clients, we will be closing our physical office on May 17th, 2023.

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