We Make US Tax Filing & Incorporation A Breeze

Keeping your California LLC in good standing is crucial for maintaining its legal status and protecting your personal assets. A key requirement is filing a Statement of Information (SOI), often called a Biennial Report. Let’s break down what you need to know. What is a Statement of Information? A Statement of Information is a document submitted to the California Secretary of State to update your LLC’s contact information and ensure it’s in good standing. When is it Due? First SOI:

Washington, D.C. (August 15, 2024) The Internal Revenue Service (IRS) has announced a limited-time reopening of its Voluntary Disclosure Program to help businesses rectify incorrect Employee Retention Credit (ERC) claims. This initiative comes as the IRS intensifies its compliance efforts to address over $1 billion in erroneous claims. Second Chance to Self-Correct The ERC Voluntary Disclosure Program, available until November 22, offers businesses a chance to correct improper payments at a 15% discount and avoid future audits, penalties, and interest.

This revised article provides a clear and professional explanation of the 1099 NEC and 1099 MISC forms used for reporting payments to independent contractors. Introduction: Businesses that engage independent contractors – freelancers, consultants, gig workers – have specific tax filing obligations with the IRS. This article provides a detailed explanation of the two primary forms used for reporting payments to independent contractors: Form 1099-NEC and Form 1099-MISC. We’ll delve into their historical context, proper usage scenarios, key differences, and filing