news & Press

On February 27, 2025, the Financial Crimes Enforcement Network (“FinCEN”) announced that it will not impose fines, penalties, or take enforcement actions against businesses that fail to file or update Beneficial Ownership Information (“BOI”) reports under the Corporate Transparency Act (“CTA”) by the current deadlines. FinCEN will delay enforcement until a forthcoming interim final rule…

New York State has imposed a sales tax on hotel occupancy charges.  Effective April 2025, the definition of “hotel” for purposes of sales on occupancy charges includes short-term rental units offered by short-term rental hosts.  A short-term rental host is a person or entity in lawful possession of a short-term rental unit who rents to…

In order to calculate payroll taxes accurately and effectively for your company and employees next year, it is important to understand the new and existing compliance requirements in effect for 2025.  Below is an overview of the tax rates, taxable wage bases, and other updates that will impact your payroll processes now that the new…

Year-end payroll reporting for 2024 is right around the corner.  To assist you in preparing the items your payroll provider will need to complete your payroll tax returns, we have provided an overview of the most significant reporting requirements to keep in mind.  Please also stay tuned for an email on the payroll tax updates…