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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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— NEWS and INSIGHTS

News & Insights

Explore Presti & Naegele's news, industry trends, and expert perspectives. Empower your decision-making with our thought-provoking content designed for success in every business endeavor.

BOI - Obligation To File

16 Jul, 2024
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.

New ERC Withdrawal Program

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.

New Beneficial Ownership Information Reporting

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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RECENT POSTS

BOI - Obligation To File

16 Jul, 2024
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.

New ERC Withdrawal Program

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.

New Beneficial Ownership Information Reporting

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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