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ERC Update โ€“ March 2025

On March 20, 2025, the IRS released new FAQs covering the income tax reporting of Employee Retention Credit (ERC) claims. According to the IRS, taxpayers will no longer be required to amend a prior year income tax return to adjust the wage expense as a result of an ERC…

April 4, 2025
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BOI Reporting Update โ€“ March 2025

On March 21, FinCEN issued an interim final rule that removes the requirement for businesses registered in the U.S. and U.S. persons to report their beneficial ownership information (BOI) to FinCEN. This is a major change, as the previous Corporate Transparency Act required most registered businesses to file…

March 31, 2025
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BOI Reporting Update โ€“ February 19, 2025

There have been major developments concerning Beneficial Owner Information (BOI) reporting in the last two days. The BOI report is once again required. The new deadline for filing the BOI report is March 21, 2025, for those businesses which were originally required to file by January 1, 2025. On February…

February 19, 2025
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BOI Reporting Requirement

BOI Injunction Reinstated โ€“ Effective 12/26/24 There has been another update to the Beneficial Owner Information (BOI) reporting saga. Just three days after the nationwide injunction was lifted, on December 26th, the U.S. Court of Appeals for the Fifth Circuit reinstated the nationwide injunction. This means that as of December…

December 26, 2024
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Hospitality Lunch & Learn

Please join us for a Hospitality industry lunch and learn on November 12th from 12pm-1pm at our Rapid City office, 810 Quincy Street. Lunch will be provided for in person attendees, but space is limited. Please RSVP by November 5th for the in person or online viewing option by emailing…

October 16, 2024
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Farewell to Two Pillars of Our Firm

It is with a mix of gratitude and sadness that I announce the retirements of two of our firmโ€™s esteemed colleagues, Denise Webster and Perry Kudrna. Their combined decades of service have shaped our firm into the respected organization it is today.  Tax Partner Denise Webster, our first female…

October 15, 2024