Pinion Insights: Posts from category

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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 minute
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 minute
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 minute
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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Firm Announces Five Principal Promotions: Instrumental in Firm’s Growth Strategy

By Pinion Editorial | April 1, 2023
Reading Time: < 1 minute
April 1, 2023 – Pinion*, a ‘Top 100’ accounting and business advisory firm focused in food and agriculture, biofuels, manufacturing, and regionally-based industries, announced the appointment of five new firm principals: Dari Basore, Geri Arndt, Grant Gattis, Kevin Ananian and Megan Johnson. “These bright leaders have demonstrated an unwavering commitment …

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Maximize Your Deductions: Auto Depreciation Limits Have Increased

By Pinion Editorial | March 23, 2023
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Reading Time: < 1 minute
The IRS has released the Section 280F depreciation deduction limits for passenger automobiles – including trucks and vans – first placed into service in 2023. For the second year in a row, the IRS released significantly higher limits for taxpayers. For passenger autos acquired after 9/27/17, placed in service during …

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