It's under S corporation, has a bank account, and funds are being used to construct.     1st project for us. will speak to my CPA this week.But wanted to ask bigger pocket community how to go about re:  filing the taxes. 

Do i still need to file with the IRS? 

The Corporate Transparency Act (CTA), which requires businesses to report Beneficial Ownership Information (BOI) to combat financial crimes, is now facing uncertainty due to a recent federal court ruling:What Happened?

@Garrett JohnstonHey Garrett, Yes, it’s definitely possible for a Canadian corporation to purchase a single-family home in Cleveland.

I recently read a book that mentioned there being a lot of power and benefits of a personal corporation but I'm curious as to when a corporation is actually beneficial over the latter. 

FINCEN just sent out a new update about the Corporate Transparency Act / BOI Reporting.

The title is a little misleading...We recommend registering your corporations and LLCs.

March 2, 2025The Treasury Department is announcing today that, with respect to the Corporate Transparency Act, not only will it not enforce any penalties or fines associated with the beneficial ownership information reporting rule under the existing regulatory deadlines, but it will further not enforce any penalties or fines against U.S. citizens or domestic reporting companies or their beneficial owners after the forthcoming rule changes take effect either.

The injunctions may disappear quickly, and you will be required to file or face heavy fines and penalties for noncompliance.File all your Corporations and LLCs now.

The plan to cut the corporate tax rate from 21% to roughly 18% certainly has echoes of past reforms.