411-Tax Services LLC Offers: Virtual Tax Office - Clients' Tax Return Preparation Service On

411-Tax               Services
411-Tax               Services
  • Home
  • Tax Portal
  • Appts
  • Tax Planning - Strategy
  • Virtual Tax Office
  • Tax Services - Bill & Pay
  • Partner-Referral Services
  • IRS Links & Tax Documents
  • Tax Industry News & FAQ
  • 411-Tax Services Reviews
  • Referrals Program
  • States Tax Information
  • Company
  • Blog
  • More
    • Home
    • Tax Portal
    • Appts
    • Tax Planning - Strategy
    • Virtual Tax Office
    • Tax Services - Bill & Pay
    • Partner-Referral Services
    • IRS Links & Tax Documents
    • Tax Industry News & FAQ
    • 411-Tax Services Reviews
    • Referrals Program
    • States Tax Information
    • Company
    • Blog
  • Home
  • Tax Portal
  • Appts
  • Tax Planning - Strategy
  • Virtual Tax Office
  • Tax Services - Bill & Pay
  • Partner-Referral Services
  • IRS Links & Tax Documents
  • Tax Industry News & FAQ
  • 411-Tax Services Reviews
  • Referrals Program
  • States Tax Information
  • Company
  • Blog

411-Tax Services LLC providing Better Tax Services - Tax Representation

the Tax Industry news and information

New Business Beneficial Ownership Information (BOI) Reporting Requirement

Updated Extension Dates


The  U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) began accepting from required  “reporting companies”  reports on who on their entity - the one-time reporting requirement opened on  January 1, 2024.


This is a new requirement for businesses that are legally registered within their state or similar office as listed below:


If your business was registered or created before January 1, 2024 then you must report your business ownership to FinCEN by the deadline extended from January 1, 2025 to January 13, 2025.


If your business is registered or created in the year 2024 then you must report your business ownership to FinCEN within 90 days of it's creation/registering with the state or similar office. 


Updated:   

Extensions for Recently Registered Companies
Companies registered between Sept. 4, 2024, and Dec. 23, 2024,extended to Jan. 13, 2025, to file BOI reports.


Updated:  

Companies registered between Dec. 3, 2024, and Dec. 23, 2024, given an additional 21 days from the original deadline.


Disaster Relief Extensions:
Depending on their circumstances, companies qualifying for disaster relief may have filing deadlines beyond Jan. 13, 2025.


If your business is registered or created in the year 2025 then you must report your business ownership to FinCEN within 30 days of it's creation/registering with the state or similar office.


The website for your Beneficial Ownership Information (BOI) Reporting is listed below:


Beneficial Ownership Information Reporting Portal


If you like 411-Tax Services LLC to file this requirement for you and provide your company Business Consulting and Reporting - contact this tax firm, and I will send you a Letter of Engagement and Proposal for these services. 

For More Information

New Rollover 529 Accounts to Roth IRAs

New rule allows for rollover

of 529 accounts to Roth IRAs

Tax-advantaged educational savings accounts, also known as 529 plans, provide a way for parents to help their children or other family members save for college or to pay other educational expenses. 


But not every beneficiary uses the full amount they paid into the plan. Beginning in 2024, the SECURE 2.0 Act allows beneficiaries to roll over unused funds into a Roth IRA without having to pay a penalty.


However, there is a lifetime limit of $35,000

per beneficiary and the 529 account must have been open for at least 15 years. The rollover amount cannot exceed the beneficiary’s annual IRA contribution limit.

Tax Planning: Contact 411-Tax Svcs

IRS Stepping up Enforcement for High-Income Individuals

IRS stepping up enforcement for high-income individuals

Using the extra funding it received in the 2022

Inflation Reduction Act, the IRS is moving

forward with its plans to prioritize enforcement

efforts against high-income earners, partnerships,

large corporations and promoters abusing U.S.

tax laws. The agency is touting this increased

enforcement as part of its efforts to restore fairness

to the U.S. tax system and will focus its efforts on

taxpayers with more than $1 million in income

and more than $250,000 in recognized tax debt

Tax Resolutions Services - Contact 411-Tax Svcs

New IRS Requirement for Money Transfer and Payment Apps

411-Tax Services LLC recommends that taxpayers began making notes/remarks as to what monies are for on all monies sent and received by money transfer and payment apps such as Cash-App, Zelle, Paypal or Venmo, etc. By placing notes/remarks such as personal loan, tax fee, for goods or services provided "repaired window", gift, charity, etc. on these money transfer and payments apps will make the gathering of your tax documents expenses and income easier at year-end. The IRS will be lowering the reporting threshold amount for issuing Form 1099-K to $600.00; the requirement for businesses such as "money transfer and payment apps" referred to as "third-party payment platforms" by the IRS was delayed this year by the IRS.


 IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K  


 Frequently asked questions about Form 1099-K 

Find out more

Maryland Information for Individual Taxpayers

Maryland announces to file and pay your state individual taxes without any state penalty or interest by the deadline for this tax year.


411-Tax Services LLC and Maryland recommend that Taxpayers file their tax returns electronically and request direct deposit for the fastest possible processing and to ensure they  receive all possible refunds and to avoid postal service delays. 

Find out more

Advanced Child Tax Credit Payments

Those who received the advanced Child Tax Credit (CTC) payments during the period July 2021 to December 2021 should receive a IRS Letter 6419 with important information about their payments; this IRS Letter will be needed by your Tax Preparer/Practitioner. If you do not receive this IRS Letter click link below:


CTC Update Portal

Prior Years Tax News

Internal Revenue Service (IRS) Form W-4, Employee's Withholding Certificate Redesign

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

The Tax Cuts and Jobs Act of 2017 resulted in the IRS having to revised the Form W-4, Employee's Withholding Certificate to eliminate the personal exemption allowance. Now, the revised Form W-4 asks taxpayers to provide details on their actual filing status, your income sources, spouses' income, self-employment income, credits, and deductions. There is no requirement to complete a new Form W-4 with your current employer unless you have a life change such as getting married, divorced, having a bay, buying a home, or other change in your life related to taxes.

For Help Completing Form W-4 - Click Here

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

The Internal Revenue Service (IRS) announces that for the first time this summer taxpayers will be able to file Form 1040-X Amended U.S. Individual Tax Return electronically using current tax software products. This is great tax news for taxpayers and a "major milestone" for the IRS. The new electronic Form 1040-X amended tax return will only be available for tax year 2019. 

Click button below for more information.

New Form 1040-X Amended Electronic Tax Return

Deadline For Payment: October 15, 2020 Low Income and Others Who Usually Are Not Required To File

Great Tax News - New Form 1040-X Amended Now Available To File Electronically Starting Tax Year 2019

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

The Internal Revenue Service (IRS) reminds those who are low-income and those who are not required to file a tax return have until October 15, 2020 to use the IRS Non-Filers Tool to register for a Economic Impact Payment. Click below for more information.

Economic Impact Payment Information

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

The Consumer Financial Protection Bureau (CFPB) says Do Not Throw Away the Prepaid VISA Debit Card sent to you. This Prepaid VISA Debit Card is sent to some people because the IRS couldn't direct deposit your stimulus payment. Click below for more information.

Prepaid VISA Debit Card - Click Here

IRS Adds Telephone Operators for Economic Impact Payment Questions

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

IRS Adds Telephone Operators for Economic Impact Payment Questions

Tax News: Telephone assistance on Economic Impact Payments is available at the IRS main number or dialed direct at 1.800.919.9835. 

Economic Impact Payments Information

IRS Updated News on Economic Impact Payments

NEWS FLASH: The Consumer Financial Protection Bureau Reports Economic Impact Payment Prepaid Debit

IRS Adds Telephone Operators for Economic Impact Payment Questions

Tax News: Taxes today, IRS compiled information and outreach materials to a special page on its website providing updated information on Economic Impact/Stimulus Payments.

Economic Impact Payments Information

Current Information on Impact Payments

Current Information on Impact Payments

Current Information on Impact Payments

 Tax News: Taxes today, IRS Poster: Economic Impact Payments - What you Need To Know: IRS Poster with facts about the stimulus/impact payments. 


 https://www.irs.gov/pub/irs-utl/e-poster_payments.pdf 

IRS Coronavirus Tax Relief Information

Current Information on Impact Payments

Current Information on Impact Payments

 Tax News: Taxes today, Up to date information on Coronavirus Tax Relief directly from the Internal Revenue Service (IRS) that's related to the Tax Service industry.

 

https://www.irs.gov/coronavirus

Maryland Tax News

Current Information on Impact Payments

Maryland Taxes Press Releases

Taxes Today - Maryland Poster: Up to date tax news and information on the state of Maryland taxes.


 https://www.marylandtaxes.gov/media/2020/Due_Dates_Website_Cover.pdf 

Maryland Taxes Press Releases

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

Maryland Taxes Press Releases

Taxes Today: Breaking Tax news in the state of Maryland:


 https://www.marylandtaxes.gov/media/index.php 

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

Small Business Administration and Treasury Department Release PPP Loan Forgiveness Application

The Small Business Administration (SBA) along with the Treasury Department released their Paycheck Protection Program (PPP) Loan Forgiveness Application providing details for completing the application. Also, the SBA will soon issue regulations and guidance to assist borrowers and lenders on their responsibilities.

For More Information on PPP Loan Forgiveness - Click Here

Non-Filers: - Payment Info Needed by the IRS

 Tax News: Taxes today, the IRS has a "Web-Tool" for those who normally would not file a tax return because of "no taxes" paid due to individual income did not exceed $12,000.00 and married couples with gross income that did not exceed $24,400.00.  For IRS to determine your eligibility and stimulus payment amount  Click on the button below:

IRS Web-Tool for Non-Filers Information

Tax Scams the Old and New

Tax Scams Targeting Seniors

IRS warns senior citizens of scams targeting them to steal their sensitive information by posing as representatives from the IRS; these fraudsters are using fear and deceit to exploit  their victims. 

For More Information

Scammers Targeting Car Dealers and Sellers

IRS reminds car dealers and sellers of scammers using emails targeting them for  in their relentless "attempts to obtain sensitive financial  and personal information, and impersonating the IRS remains a favorite  tactic. The IRS urges car dealerships to be extra cautious about  unsolicited messages and avoid clicking any links in an unsolicited  email or text if they are uncertain".

For More Information

IRS Warns of Fake Charities Soliciting Donations

The IRS is reporting that scammers are taking advantage of the large numbers of recent natural disasters and international conflicts to fraudulently solicit donations to help victims. In addition to lining the pockets of criminals, donating to these fraudulent charities can get you in trouble with the IRS if you try to claim a deduction that ends up being disallowed. The best way to keep from being a victim of this

kind of fraud is to check with the Tax-Exempt Organization Search tool on the IRS’s website. Using the tool will both ensure that you are donating to a legitimate charity and that you will be allowed to deduct the donation.

Learn More at IRS Webpage

Employee Retention Credit (ERC) Scams

Employee retention credit scams still common:

The employee retention credit (ERC) was a COVID-era tax benefit Congress enacted to help businesses that kept paying their employees during pandemic-related business disruptions. Due to the high number of potentially ineligible

claims it is receiving, the IRS is warning businesses to be on the lookout for aggressive promoters misleading taxpayers about their eligibility. 

Learn More at IRS Webpage

New Scam Related to Unclaimed Refunds

Beware of Offer in Compromise (OIC) Programs

    

The IRS warns taxpayers to be on the lookout for a new scam mailing that tries to mislead people into believing they are owed a refund.

The new scheme involves a mailing coming in a cardboard envelope from  a delivery service. The enclosed letter includes the IRS masthead with  contact information and a phone number that do not belong to the IRS and  wording that the notice is "in relation to your unclaimed refund.”

IRS Tax scams - Consumer alerts

Beware of Offer in Compromise (OIC) Programs

Beware of Offer in Compromise (OIC) Programs

   

Beware of OIC mills – avoid costly promoters advertising settlement with the IRS for “pennies-on-the-dollar”

  

The IRS reminds taxpayers to beware of promoters claiming their  services are needed to settle with the IRS, that their debts can be  settled for “pennies-on-the-dollar” or that there is a limited window of  time to resolve tax debts through the Offer in Compromise (OIC)  program. These promoters are often referred to as “OIC Mills.” Find  information on OIC Mills in the news release IRS  “Dirty Dozen” list warns people to watch out for Offer in Compromise  ‘mills’ where promoters claim their services are needed to settle IRS  debts.

For Legal Tax Resolution Services: Contact 411-Tax Svcs

IRS Tax Scams and Consumer Alerts

IRS Tax Scams and Consumer Alerts

IRS Tax Scams and Consumer Alerts

For More Information on IRS Tax Scams and Consumer Alerts: Click Below Button

IRS Tax Scams and Consumer Alerts

Frequently Asked Questions

When should I contact a Tax Practitioner?

 Tax News: Taxes today, as soon as you start to think about taking actions concerning your income and business, a Tax Practitioner, tax service can help you take the next steps. We can discuss your business's organization, tax purposes and operations.  

What are my options for paying and saving taxes?

  • Contact Ronald Davis at 411-Tax Services LLC for organizing your records. Keeping you up to date on the latest tax news and taxes today. Let 411-Tax Services LLC help you get ready for your next tax related step! 

How can I know which Tax Practitioner is right for me?

  • Does your Tax Practitioner return your calls? Do you feel comfortable asking them a question? Do you feel heard? With the right Tax Practitioner, your answers to these questions should be a resounding "Yes!" Contact 411-Tax Services LLC for your latest tax news about taxes today.

  • Home
  • Tax Portal
  • Appts
  • Tax Planning - Strategy
  • Virtual Tax Office
  • Tax Services - Bill & Pay
  • Partner-Referral Services
  • IRS Links & Tax Documents
  • Tax Industry News & FAQ
  • 411-Tax Services Reviews
  • Referrals Program
  • States Tax Information
  • Blog

411-Tax Services LLC

6340 Security Boulevard #100, Baltimore, MD 21207, US

(410) 630-1324

  

Copyright ©  2025 411-Tax Services  LLC - All Rights Reserved. 

Announcement

Welcome! Check-out & Sign Up for 411-Tax Services LLC Blog.

Learn more

Cookie Policy

This website uses cookies. By continuing to use this site, you accept our use of cookies.

DeclineAccept & Close