2024 Client Newsletter
Happy New Year! The IRS has announced that it will begin accepting 2023 e-filed tax returns on January 29th, 2024.
Please submit requests for client organizers via email or phone as early as possible: The Tax Organizers can be used to remind you of the information needed to file and allow you time to organize. Be sure to note any changes over the prior year to your address, marital status, number of dependents, job changes, etc. The tax organizer is an option, not a requirement to file with us.
Form 1099: the deadline for using Forms 1099s is January 31st, 2024. There are no extensions for filing this form. Payments of at least $ 600.00 or more to a non-employee during the tax year will have this filing requirement. Please provide us with the W9 and relevant information no later than January 25th, 2024 if you would like our office to prepare this form for you.
New- (BOI) Report – Owners with 25% or more ownership in LLCs and Corporations in existence before January 1, 2024, are required to file their BOI Report per entity before January 1, 2025. For LLCs and Corporations formed after January 1, 2024, they are required to file their BOI Report within 90 days of formation with the Secretary of State. There is no extension for this form.
FBARs – (Foreign Bank & Financial Accounts Report):
The deadline for FBARs is April 15th, 2024 without extensions. If your foreign financial accounts exceed USD 10,000 at any point during the 2023 year you have this filing requirement.
Business Tax Return Deadline:
The deadline for Partnership ( 1065) and S-Corp (Form 1120-S) returns, without extension, March 15th, 2024. C- Corporations are due April 15th, 2024, without extensions. Please submit your information to us no later than February 20th, 2024, in order for us to complete it by the March 15th deadline.
Personal Tax Return Deadline:
The tax filing deadline this year for personal tax returns, gift tax returns, and Trusts, without extension is April 15th 2024. In order to complete your return by the filing deadline, please send us your information no later than March 25th, 2024.
If you have any questions, please contact us at info@ausejotaxes.com
Sincerely,
Carlos A. Ausejo, E.A
