02/01/2024
Welcome back tax season!
Two topics I want to share below:
Small business owners, please look into Beneficial Ownership Information (BOI ), you may have a new requirement to complete. If not, it will result in penalties up to 10k per business and if not paid up to two years in federal prison. It’s highly recommended for an attorney to fill it out or by the business owner. Businesses created in 2024 do this immediately.
Let’s stay in compliance
https://www.fincen.gov/
Lastly, some of you received the Az Rebate Credit, which is subject to federal income tax but not Az state income tax. You can download the tax form from
AZDOR.gov/arizona-families-tax-rebate
Be well!!
The Arizona Department of Revenue is pleased to inform you that, as a result of Governor Hobbs’ 2023 bipartisan budget, you may be eligible for a one-time Arizona Families Tax Rebate. These family-first funds are a way to recognize your contributions to our thriving state, and we could not be more...
