CONTACT INFORMATION:

Manhattan Location

225 W35th St, 5th FL New York, NY 10001
Phone:
(212) 736-0055

Stamford Location

350 Bedford St, Ste 303 Stamford, CT 06902

Phone: (203) 356-1061

Long Island Location

487 Jericho Turnpike, Syosset, NY 11791

Phone: (212) 736-0055

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Jul 16, 2024

BOI - Obligation To File

BOI - Obligation To File

  • As a result of The Corporate Transparency Act most privately held U.S. companies (“Reporting Companies”) will now be subject to the new Beneficial Ownership Information (BOI) reporting requirements.
  • Despite certain exclusions for having to file a BOI Report, most businesses will have to file a report.

 Filing Due Date: Jan 1st, 2025

  • If the reporting company was established on or after January 1, 2024, the report is due within 90 days of the reporting companies' initial formation date.

Read more about Beneficial Ownership Information Reporting >>> HERE

Contact your P&N representative if you have questions or would like P&N to file your BOI report.

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04 Oct, 2023
On Thursday, October 19th , the IRS unveiled a fresh initiative that permits employers to retract their claims for the Employee Retention Credit (ERC). This move comes on the heels of the IRS's recent halt in processing new ERC claims just last month. This withdrawal program provides employers who have previously submitted ERC claims they now consider to be incorrect an opportunity to avoid potential fines and interest associated with such erroneous claims. The IRS also restated its earlier strong cautions regarding the use of ERC "mills" that promote business eligibility for the credit in a manner inconsistent with IRS guidance.
04 Oct, 2023
As a result of the Corporate Transparency Act, most privately held U.S. companies (“Reporting Companies”) will now be subject to the new Beneficial Ownership Information (BOI) reporting requirements. The purpose of these new reporting requirements is to help prevent money laundering and other financial crimes by providing information about beneficial owners who directly or indirectly own or control more than 25% of a company’s ownership interests or directly or indirectly exercises “substantial control” of the company.
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