News

New Beneficial Ownership Information Reporting

The recently passed Corporate Transparency Act (CTA), enacted as part of the National Defense Act, mandates millions of entities to begin reporting their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN). The CTA is not a part of the tax code, but rather, a part of the Bank Secrecy Act with reports filed to FinCEN rather than the IRS.  This additional requirement will require additional planning with your attorney or legal counsel.

IRS Issues Proposed Regulations on Reporting by Brokers for Sales and Exchanges of Digital Assets

On August 25, 2023, the IRS issued proposed regulations that would require brokers to report sales and exchanges of digital assets by customers, a move that is intended to make digital asset tax reporting similar to the tax reporting required for other financial assets.

What is Not in the Inflation Reduction Act & Why You Should Start Year-End Tax Planning

It's time for individuals, businesses and family offices to start 2022 year-end tax planning. This is an opportunity to understand your tax situation with your Reese Henry advisor and make decisions on reductions, deferments or even accelerating tax obligations. Working with your Reese Henry advisor, we can estimate your tax liability and consider tax minimization strategies.

We Are Working Remotely

In response to state and local advisories and health orders, we are implementing social distancing strategies to protect our people, clients and communities. Our professionals and staff are working remotely and securely in an effort to limit any interruptions to client service. You will be able to reach us as you normally do by phone or email during our regular business hours.

COVID-19 Virus Response

The health and safety of our people, clients and communities is our top priority. We are prepared to provide you a seamless client service experience as we face the uncertainties and health challenges arising from the COVID-19 Virus. We are closely monitoring the latest advisories from the U.S. Centers for Disease Control and Prevention (CDC) and our state and local governments.