The official start of the tax filing season is quickly approaching! We are constantly upgrading our processes and seeking ways to better serve you. In preparation for the 2024 filing season, we have enhanced some of our procedures: We encourage you to submit your complete tax information/documentation to us as soon as possible. Returns will…
1099s must be issued and filed by January 31, 2025, to avoid late filing penalties. We must receive the W-9’s you collected and your list of eligible vendors/contractors by January 15, 2025. If we do not receive all the information by this date, we cannot guarantee filing and mailing for the forms by the required deadline. As a courtesy –…
There is a new Beneficial Ownership Reporting that is due for small businesses by January 1, 2025. What is the new requirement? In 2021 a new bi-partisan law was passed requiring substantially all small businesses to register with the Treasury Department’s Financial Crimes (FinCen) Division by the end of 2024. I don’t have a business,…
What does this mean to you? You should be getting an updated W-9 from each person, contractor, or business (aka vendors) that you pay via cash, check or Zelle® before you make your next payment. Here is a link to the latest version of form W-9 for your convenience: https://www.irs.gov/pub/irs-pdf/fw9.pdf The best practice is to obtain…
The official start of the tax filing season is quickly approaching! We are constantly upgrading our processes and seeking ways to better serve you. In preparation for the 2023 filing season, we have enhanced some of our procedures: The deadlines for submission of tax information/documents to CHVL for 2023 returns are as follows: Partnership and…
Attention – New Business Filing Requirement starting January 1, 2024 Starting January 1, 2024, most businesses will have to file a “Beneficial Ownership Information” report with the Financial Crimes Enforcement Network (FinCen). This requirement is based on the Corporate Transparency Act passed by congress in 2021. This is a new filing and is in addition…