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By Rachelle Cohen and Robert Weiss

With the arrival of 2024, the Financial Crimes Enforcement Network (FinCen), a bureau of the U.S. Department of the Treasury, has begun to implement the Beneficial Ownership Information Reporting Rule established under the 2021 Corporate Transparency Act.

The purpose is to assist law enforcement in finding bad actors who use shell companies and opaque ownership structures to launder money or conceal illicit funds.


We think of courts as operating to protect our rights and dispense justice. That’s true, of course, but they also function by strict rules and schedules that must be followed if we are to get the justice we seek.

As year-end approaches, this is a good time to think about planning moves for individuals and businesses that may help lower your tax bill for this year and possibly next.

With year-end approaching, it is time to start thinking about moves that may help lower your business’s taxes for this year and next. C corporations should take into account the 15% corporate minimum tax.

With year-end approaching, it is time to start thinking about moves that may help lower your personal tax bill for this year and next. Whether or not proposed tax increases become effective next year, the standard year-end approach of deferring income and accelerating deductions to minimize taxes will continue to produce the best results for all but the highest-income taxpayers, as will the bunching of deductible expenses into this year or next to avoid restrictions and maximize deductions.

Consumer protection laws are intended to ensure that business entities follow the law and that their customers do not suffer harm due to their business practices.