Parag Patel Esq. was a featured speaker at a New Jersey Society of Certified Public Accountants (NJCPA) Seminar entitled “The Corporate Transparency Act: What You Need To Know”. You may email our office to receive
The IRS has notified over 20,000 taxpayers via IRS Letter 105C (Disallowance of Claim) that their claims for the employee retention credit are being disallowed because entities either did not exist or did not have
The first step in Corporate Transparency Act (CTA) analysis is determining whether an entity is a Reporting Company. A “Reporting Company” means any entity (whether a corporation, limited liability company, or other entity types) that
Starting January 1, 2024, the Corporate Transparency Act (CTA) will require most U.S. corporations, LLCs, and other legal entities formed through state filings or foreign entities registered to do business in the U.S. to file
The Corporate Transparency Act (CTA), introduced as part of the 2021 National Defense Authorization Act and amending the Bank Secrecy Act, aims to enhance transparency in business ownership structures to combat financial crimes like money
The Employee Retention Credit (ERC) was a valuable tax credit available to businesses during the COVID-19 pandemic. However, the IRS has recently ramped up its audits of ERC claims, due to concerns about fraud and
We have had several clients recently subject to Form 3520 penalties, so we thought we would remind everyone of the need to timely file these forms when receiving a foreign gift. When a U.S. person
Parag Patel Esq. will be a featured speaker this month at a New Jersey Society of Certified Public Accountants (NJCPA) Seminar entitled “Criminal Tax: What Tax Professionals Need to Know to Help Clients and Themselves”
Parag Patel Esq. will be a featured speaker this month at a New Jersey Society of Certified Public Accountants (NJCPA) Seminar entitled ” Federal Tax Update and Latest Tax Controversy Hot Topics“. Seminar descriptions is
Parag Patel Esq. is a featured speaker at the National Association of Enrolled Agents (NAEA) Estate and Gifts Certificate Program on November 7, 2023. Mr. Patel will speak on Estate Planning strategies and developments. The
The IRS continues to warn businesses not to fall for aggressive marketing or scams related to the ERC. Businesses should first check with their trusted tax professional before submitting an ERC claim. As part of
The failure to file and pay payroll taxes has been a major focus of IRS investigations in the past few years. Sometimes the cases are civilly examined, but occasionally the government criminally prosecutes more willfull
