News & Alerts

Read the Financial Crimes Enforcement Network's response to the preliminary injunction that remains in effect and what it means for CPA firms.

As the reporting deadline for the Beneficial Ownership Information (BOI) approaches quickly, LCPA has heard concerns from many members regarding the lack of clarity and guidance from the Financial Crimes Enforcement Network (FinCEN) and the January 31, 2025 deadline.

Following the recent Texas Top Cop Shot, Inc., et al., v. Merrick Garland, Attorney General of the United States court case and subsequent appeal, the AICPA released the following statement, attributable to Melanie Lauridsen, Vice President of Tax Policy & Advocacy for the AICPA.

AICPA and State CPA Societies issue letter to voice concerns with the rollout and continued push to implement BOI reporting requirements without regard for the impact to the small business community. Read the letter in its entirety.

Get the latest on BOI implementation.

In a recently-concluded raucous Special Session, the Louisiana Legislature passed a package of tax overhaul bills spearheaded by the Landry Administration. The bills address individual income tax, corporate income and franchise tax, sales and use tax, credits and incentives, and state government funding.  Read more with links to the bills.

Avoid LDR challenges to the capital gains deduction. Review the applicable regulations, particularly the LAC 61:I.1312(C) documentation requirements that are effective immediately.

Find out what's happening at the Louisiana Legislature from David Zoller, LCPA Director of Government and Political Affairs.

FinCEN announced today that certain victims of Hurricane Francine will receive an additional six months to submit BOI reports (including updates or corrections to prior reports). Learn about the TWO requirements companies need to meet to qualify.

The Department of Revenue has issued a new Policy Statement on Credit for Tax Paid on Unlisted Vapor and Alternative Nicotine Products

FinCEN announced today that victims of Tropical Storm Francine have until February 3, 2025 to file Reports of Foreign Bank and Financial Accounts (FBARs) for the 2023 calendar year. FBAR filings for calendar year 2023 would otherwise be due on or before October 15, 2024.

IRS announced today tax relief for individuals and businesses in the entire state of Louisiana, affected by Tropical Storm Francine that began on Sept. 10, 2024.  These taxpayers now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments. 

LDR is granting filing and payment extensions to taxpayers whose homes, principal places of business, critical tax records or paid tax preparers are located in the federally declared disaster areas following Hurricane Francine.

LCPA urges the IRS to provide immediate relief and assistance for those impacted as they face the September 16 filing deadline.

The Louisiana Department of Revenue gives taxpayers options to protect their tax records and other financial documents from weather-related threats. Click to read!

Hunters get a tax break during the 2nd Amendment Weekend Sales Tax Holiday. Click to learn more details.

The Department of Revenue has issued new Policy Statements which may be accessed by the links in this article.

LCPA recognized Candy Wright and Dennis James at the Louisiana Accounting & Auditing Conference on August 22. Read more about their noteworthy accomplishments.

LCPA held its Annual Meeting and Election of Officers on August 14 at The Ritz-Carlton New Orleans. Meet our new Board of Directors.

LCPA recently honored 7 members for their remarkable contributions to the CPA profession and the communities they serve. Read about these outstanding individuals and their service.