Please be sure to get your tax advice from reliable sources. These sources include licensed tax professionals, CPAs with tax experience, and the Internal Revenue Service. 

These do not include Wikipedia, TikTok, Facebook, or your Cousin Vinny’s girlfriend’s aunt’s mechanic who dated a rocket scientist from NASA. Nor does it include Iron Man.

Sarah will be emailing your tax organizer the first week of January. Don’t worry! They will be sent securely, and all sensitive information will be redacted. They will be sent to the primary email address we have on file. If you wish to use a different email or confirm your email, please reach out to Sarah and she will update your records. If you do not receive your organizer by January 8th, please contact the office.

Tax data can still be uploaded to the portal as usual. If you do not have access to the portal, please reach out to Sarah so she can provide you with access. You can also drop off your tax information at the office, or mail it to our PO Box too!

You can email Sarah directly at SMcElroen@rtg.tax. 

As part of the 2021 Corporate Transparency Act, the US implemented new legislation that now requires certain businesses (partnerships, S-Corporations, privately held corporations, etc) to register with the US Treasury’s Financial Crimes Enforcement Nework (FinCEN). This registration is required to report the owners of certain businesses. Any required business that began BEFORE 1/1/2024 must file by 1/1/2025. Any business that began AFTER 1/1/2024, must register within 90 days. Also…any business that subsequently has a change to the beneficial owners of a business, must update their information with FinCEN within 90 days. 

The registration is only once….unless there are changes to the ownership of the business.

To register a business must provide:

• The names, dates of birth, addresses, a copy of a driver’s license or passport for all owners
• The name and address of the business.
• For businesses started after 1/1/2024 – they must also provide information on who set up the company (an owner, an attorney, an accountant, etc)

The goal of this registration is to crack down on money laundering. Believe it or not…most money laundering operations are done by “small” businesses, and not large publicly traded corporations.

Please follow the link provided to learn more. Feel free to reach out to your attorney or accountant if you need assistance with the registration of your business or to determine if your business is required to register.

U.S. Beneficial Ownership Information Registry Now Accepting Reports | U.S. Department of the Treasury

Every year businesses need to send 1099's to vendors/subcontractors that were paid $600 or more for services provided during the course of business. The recipient should receive Form 1099-NEC by January 31st. When filing with the IRS and state, there are different due dates based on if the forms are paper filed or electronically filed. Click here to see what information needs to be gathered in order to file Form 1099 and more!

If you aren't sure where to get forms or just don't want to deal with another deadline, let The Roberts Tax Group help!

January Calendar: 

See What Important Dates Are Coming Up!