Navigating the BOI Reporting Requirements Amid Legal Uncertainty
The landscape of Beneficial Ownership Information (BOI) reporting under the Corporate Transparency Act (CTA) remains in flux due to ongoing legal challenges. While the U.S. Supreme Court has allowed the Financial Crimes Enforcement Network (FinCEN) to enforce BOI reporting, a recent federal injunction issued by a Texas court on January 7 prevents FinCEN from penalizing […]
Understanding Exclusions and Exemptions for Debt Cancellation: What You Need to Know?
Debt cancellation can be a significant financial relief, but it often comes with complex tax implications. If you’ve had debt forgiven, you may need to report it as taxable income to the IRS. However, certain exclusions and exemptions can help you avoid paying taxes on canceled debt. At Alexis Robins Tax and Accounting Firm in […]
Top Debt Cancellation: What You Need to Know and How Alexis Robins Can Help
Debt cancellation can provide much-needed financial relief, but it also comes with specific tax obligations. If you’ve recently had a portion of your debt forgiven or are considering debt relief options, understanding the associated tax requirements is essential. At Alexis Robins Tax and Accounting Firm, based in Brooklyn, New York, we specialize in helping individuals […]
Important Information for Clients Claiming the Electric Vehicle (EV) Tax Credit
As the shift towards sustainable transportation accelerates, electric vehicle (EVs) are becoming increasingly popular among consumers. Not only do they contribute to environmental sustainability, but they also come with potential financial benefits through the Electric Vehicle (EVs) Tax Credit. At Alexis Robins, tax and accounting firm in Brooklyn, NYC, we want to ensure you’re well-informed […]
