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FinCEN Reporting Deadline Alert: What Every Business Needs to Know

By Pinion Editorial | October 3, 2023
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Reading Time: 2 minutes
Beginning January 1, 2024, the Corporate Transparency Act requires all U.S.-based entities to report to the Financial Crimes Enforcement Network (FinCEN) detailed information about the entity and its key stakeholders – called “beneficial owners.” Any business with any legal entity (including single-member LLCs with minimal activity) will be impacted.  Small …

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Back to Basics: Biofuels Offer Cleaner Air, Stable Markets

3 Tips to Maximize IRA Biofuel Incentives

By Pinion Editorial | September 28, 2023
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Reading Time: 2 minutes
With $369 billion allocated for climate and energy policies, the Inflation Reduction Act of 2022 marks a historic commitment to the U.S. biofuels sector. It includes new tax credits, funding for biofuel infrastructure and expanded tax credits for carbon capture and storage. “The Inflation Reduction Act is a huge legislative …

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The Corporate Transparency Act: What Businesses Need to Know

By Pinion Editorial | July 24, 2023
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Reading Time: 2 minutes
In January 2021, Congress passed the Corporate Transparency Act designed to prevent the use of U.S. shell companies for money laundering, shadow investments, tax fraud, terrorism financing and other illegal activities. Beginning January 1, 2024, the CTA requires U.S. businesses to submit a Beneficial Ownership Information (BOI) report to the …

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FSA Issues New PARP Notice for Producers: Allowance Made for Use of Registers

By Pinion Editorial | July 13, 2023
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Reading Time: < 1 minutes
With one day left until the July 14, 2023 deadline to submit ERP Phase 2 and PARP applications, the Farm Service Agency (FSA) has issued a new notice for producers.  FSA will now allow a register to exist for PARP.  This comes on the heels of an announcement that ERP …

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Timely USDA Update: New ERP Changes Could Impact Producer Applications

By Pinion Editorial | July 12, 2023
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Reading Time: 2 minutes
The Farm Service Agency (FSA) released a notice regarding changes made by USDA that could impact producers across the U.S.  With just a few days’ away from the deadline to submit applications, a new change in procedure has just been released by the FSA – but the application deadline remains …

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IRS Issues New Guidance for Conservation Easements

By Pinion Editorial | June 6, 2023
Reading Time: < 1 minutes
The IRS recently issued Notice 2023-30, which provides safe harbor deed language for extinguishment and boundary line adjustment clauses. The amendment was in response to the Secure Act 2.0 passed by Congress in December 2022. Who does the IRS Notice impact? Taxpayers who have placed a Conservation Easement on their …

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BE-12 Survey: Report Deadline Approaches for Foreign Investments

By Pinion Editorial | May 15, 2023
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Reading Time: < 1 minutes
Form BE-12 is a benchmark survey required by the Department of Treasury’s Bureau of Economic Analysis. The BE-12 must be filed every 5 years and 2022 is a reporting year. Paper forms are due May 31, 2023 and e-filed forms are due June 30, 2023.  The survey collects data on foreign business …

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Summary of the IRS Transfer Pricing Audit Increase

By Pinion Editorial | May 3, 2023
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Reading Time: 2 minutes
One of the ways the IRS is going to put its $80 billion to use is increasing the number of transfer pricing audits it conducts. In a nutshell, transfer pricing is the process that establishes whether related party transactions between parties in the U.S. and foreign jurisdictions are priced fairly. …

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