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Thanks for the inquiries! Clarification: You must report your BOI to FINCEN even if you have filed tax returns in the past for your entities, unless otherwise exempt. “I have filed tax returns for my LLC for 20 straight years!” does NOT relieve you of your obligation to report. Hint: scan a copy of your state issued ID before reporting as you will need to upload it to complete the filing. FAQs: https://lnkd.in/g3Zw_FFE

🚨 Attention Tax Pros! 🚨 The Tax Adviser just released a crucial article on the new Business Operating Income (BOI) reporting requirements. 📊 Here's what you need to know: 1. BOI includes income from sales, services, and other business activities. 2. These changes significantly impact tax preparation and calculation of taxable income. 3. New forms and filing requirements have been introduced. 4. Educating clients about accurate reporting and potential penalties is crucial. 5. Staying updated on the latest tax laws is essential for providing effective services. Read the full article here: [https://lnkd.in/e5pDKjki) How are you preparing for these changes? Share your thoughts and strategies in the comments below! 💬 #TaxLaw #TaxPreparation #BOIReporting #TaxProfessionals #TaxUpdates https://lnkd.in/e4gEjB2f Get the latest TaxPro news via email: https://lnkd.in/enfg4BuU Pass the EA Exams: https://lnkd.in/emDt264J

🟩 Master Course on Income Tax Audit from a GST Perspective Enroll Now: https://lnkd.in/gn2f9-dY What will be Covered in the Course? ▪ Overview of Income Tax Audit: Purpose, scope, and key objectives ▪ GST and Income Tax Audit Interactions: How GST impacts income tax audits ▪ Reconciliation of GST Returns with Financial Statements: Ensuring accuracy and compliance ▪ Common Issues and Pitfalls: Identifying and resolving frequent audit issues ▪ Documentation and Evidence: Best practices for maintaining accurate records ▪ Recent Amendments: Understanding the latest changes in GST and income tax laws ------------------------------------------------ For Queries - 7560 932 109, [email protected] #IncomeTaxAuditCourse #IncomeTaxAudit #IncomeTax #Audit #TaxCourse #IncomeTaxCourse #OnlineCourse #onlinecertificatecourse

🟩 Master Course on Income Tax Audit from a GST Perspective Enroll Now : https://lnkd.in/gn2f9-dY What will be Covered in the Course? ▪ Overview of Income Tax Audit: Purpose, scope, and key objectives ▪ GST and Income Tax Audit Interactions: How GST impacts income tax audits ▪ Reconciliation of GST Returns with Financial Statements: Ensuring accuracy and compliance ▪ Common Issues and Pitfalls: Identifying and resolving frequent audit issues ▪ Documentation and Evidence: Best practices for maintaining accurate records ▪ Recent Amendments: Understanding the latest changes in GST and income tax laws ------------------------------------------------ For Queries - 7560 932 109, [email protected] Taxscan#students #learners #business #finance #accountants #incometax #audit #gst #incometaxaudit #basic #advance #onlinecourse #livecourse #professionalupskill #careergrowth #taxscanacademy #taxscan #OnlineCourse #AcademyCourse #OnlineCertificateCourse #CertificateCourse

🟩 Master Course on Income Tax Audit from a GST Perspective Enroll Now : https://lnkd.in/gn2f9-dY What will be Covered in the Course? ▪ Overview of Income Tax Audit: Purpose, scope, and key objectives ▪ GST and Income Tax Audit Interactions: How GST impacts income tax audits ▪ Reconciliation of GST Returns with Financial Statements: Ensuring accuracy and compliance ▪ Common Issues and Pitfalls: Identifying and resolving frequent audit issues ▪ Documentation and Evidence: Best practices for maintaining accurate records ▪ Recent Amendments: Understanding the latest changes in GST and income tax laws ------------------------------------------------ For Queries - 7560 932 109, [email protected] Taxscan #students #learners #business #finance #accountants #incometax #audit #gst #incometaxaudit #basic #advance #onlinecourse #livecourse #professionalupskill #careergrowth #taxscanacademy #taxscan #OnlineCourse #AcademyCourse #OnlineCertificateCourse #CertificateCourse

TAX AMENDMENT LECTURE -2 https://lnkd.in/gWxpvrKz https://lnkd.in/g-3AhEJY. Join link to get pdf notes of Tax Amendments #onlineclasses #icaiexams #ICAI #castudents #CMA #videolectures #taxation #accounting #cmaexam #costing #Advancedaccounting #skills #castudents #accounting #fm #Financialmanagement #caintermediate

Important ITR Update The Income Tax Portal now features a "Discard ITR" option for unverified original/belated/revised Income Tax Returns (ITRs) starting from Assessment Year 2023-24. 1. Opting to discard the ITR is equivalent to non-filing of the return. 2. Following the discard, a new ITR can be submitted. However, if the fresh ITR is filed after the due date, it will incur late fees and other associated consequences. 3. Once the discard option is exercised, it cannot be reversed. Use this option cautiously. 4. The discard feature is available until the ITR filing deadline, i.e., until December 31 following the end of the financial year. Timely action is advised.

🚨 Important ITR Update The Income Tax Portal now features a "Discard ITR" option for unverified original/belated/revised Income Tax Returns (ITRs) starting from Assessment Year 2023-24. 1. Opting to discard the ITR is equivalent to non-filing of the return. 2. Following the discard, a new ITR can be submitted. However, if the fresh ITR is filed after the due date, it will incur late fees and other associated consequences. 3. Once the discard option is exercised, it cannot be reversed. Use this option cautiously. 4. The discard feature is available until the ITR filing deadline, i.e., until December 31 following the end of the financial year. Timely action is advised.

🚨 Important ITR Update The Income Tax Portal now features a "Discard ITR" option for unverified original/belated/revised Income Tax Returns (ITRs) starting from Assessment Year 2023-24. 1. Opting to discard the ITR is equivalent to non-filing of the return. 2. Following the discard, a new ITR can be submitted. However, if the fresh ITR is filed after the due date, it will incur late fees and other associated consequences. 3. Once the discard option is exercised, it cannot be reversed. Use this option cautiously. 4. The discard feature is available until the ITR filing deadline, i.e., until December 31 following the end of the financial year. Timely action is advised.

🚨 Important ITR Update The Income Tax Portal now features a "Discard ITR" option for unverified original/belated/revised Income Tax Returns (ITRs) starting from Assessment Year 2023-24. 1. Opting to discard the ITR is equivalent to non-filing of the return. 2. Following the discard, a new ITR can be submitted. However, if the fresh ITR is filed after the due date, it will incur late fees and other associated consequences. 3. Once the discard option is exercised, it cannot be reversed. Use this option cautiously. 4. The discard feature is available until the ITR filing deadline, i.e., until December 31 following the end of the financial year. Timely action is advised.