The Office of Management and Budget (OMB) issued the 2024 Uniform Guidance (Revised as of January 1, 2025) codified in 2 CFR which includes the “Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards” in Part 200 (commonly referred to as 2 CFR Part 200). Changes in the 2024 Uniform Guidance are effective for awards issued on or after October 1, 2024, and therefore, fully effective for fiscal years ended September 30, 2025, and thereafter. The following are some of the changes (but not all) for your consideration.

Arizona taxpayers are eligible to make charitable contributions to qualifying organizations that may directly offset their Arizona income taxes, subject to limitations. These nonrefundable tax credits allow individual taxpayers to directly offset their Arizona income tax owed, as long as there is a tax liability for the year.

IRS Identity Protection PINs and IRS Online Accounts can help protect against tax-related identity theft.

With FinCEN's beneficial ownership reporting rules back in play and a new deadline of March 21, 2025, businesses need to stay flexible - especially with the possibility of more deadline twists!