Jay Wilson, CPA, Inc.

01/14/2025

For taxpayers that make estimated tax payments, the 4th Quarter 2024 estimated tax payments are due Wednesday, Jan 15.

11/27/2024

LLC's and corporations... Have you filed your BOI report?

In 2021 Congress passed the Corporate Transparency Act aimed at reducing money laundering. It is a small business reporting requirement with potential penalties for failure to report.

If your business is an LLC or corporation, including a single member LLC, you must fill out this form by the end of 2024, and if you started a new business in 2024, you must report within 90 days of formation. Reporting is done with a special electronic filing with the Treasury Department’s Financial Crimes Enforcement Network (Not the IRS).

Fortunately, there is still time to file to meet the 12/31/2024 deadline. See https://fincen.gov/boi for more information and to file the report.

Because of the incredible amount of confidential information that must be provided, we strongly emphasize that you do NOT use unknown 3rd party solicitors, because they could use this confidential information to steal your or your company’s identity or data.

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