News & Alerts

Consistent with the U.S. Department of the Treasury’s March 2, 2025 announcement, the FinCEN is issuing an interim final rule that removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information (BOI) to FinCEN under the Corporate Transparency Act.

Read about changes to Louisiana’s individual income tax as enacted by Act 11 of the 2024 Third Extraordinary Session of the Louisiana Legislature. Click and save the RIB.

Read AICPA's statement on the BOI enforcement freeze noting further clarification is needed.

With respect to the CTA, Treasury will not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.

Read about FinCEN's interim final rule that extends BOI reporting deadlines.

LCPA's Advocacy Team navigates the noise to bring you clear, concise updates on the issues that matter most.

The 2024 Third Extraordinary Session resulted in substantive reforms to hundreds of taxrelated statutes with an effective date of January 1, 2025.

A special thank you to Gerry Schreiber and Beth Brennan for preparing the attached article, which offers valuable insights into The Federal Disaster Tax Relief Act of 2023. We will continue to inform you about related guidance and specifics as they become available.

The Supreme Court granted a stay for case No. 4:24–cv–478 from the United States District Court for the Eastern District of Texas, pending appeals and any potential certiorari. Justices Gorsuch and Jackson issued separate opinions, with Gorsuch concurring and Jackson dissenting.

In light of a 12/23/24, federal Court of Appeals decision, reporting companies, except as indicated by FinCEN, are required to file BOI. Because reporting companies may need more time, FinCEN has extended the reporting deadline for certain companies. Read about the extensions.

The 5th Circuit Court of Appeals has reversed its previous rejection of FinCEN’s appeal of the BOI injunction. This decision effectively lifts the injunction, reinstating the original filing deadline of January 1, 2025.

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.