Peck and Gambish CPAs

Peck and Gambish CPAs An Ohio public accounting firm, Peck and Gambish can service your accounting and tax needs. Visit our website to learn what sets us apart.

11/10/2025

FS-2025-03, July 14, 2025 — Provisions from the One, Big, Beautiful Bill Act, which was signed into law on July 4, 2025.

We are under construction today!
10/15/2025

We are under construction today!

09/23/2025

IR-2025-94, Sept. 23, 2025 — The Internal Revenue Service, working with the U.S. Department of the Treasury, today announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept. 30, 2025, as required by Executive Order 14247, to the extent permitted by law.

Celebrating another successful tax season! A big thank you to our staff!!
04/18/2025

Celebrating another successful tax season! A big thank you to our staff!!

11/04/2024

*Please note, if you do not have a business/LLC registered with the state of Ohio, you can disregard this message.

The “The Corporate Transparency Act” includes a new reporting requirement for certain companies doing business in the US. The entities that must file are corporations (including S corporations), LLCs and other entities formed by filing documentation with the Secretary of State.

Businesses that are large operating companies are exempt from filing. A large operating company is an entity with more than 20 full-time US employees, a physical office in the US, and more than $5 million in US gross receipts.

The information that needs to be reported is the beneficial ownership information (BOI). A beneficial owner owns at least 25% of the business. All owners falling under this specification must provide the following information: full name, date of birth, current address and a copy of their driver's license.

The BOI can be filed electronically at https://boiefiling.fincen.gov/. The BOI is due on December 31, 2024. In the future, the BOI must be updated for an ownership change or a change of address.

The penalties for willfully failing to file both the initial and updated reports are steep - $500 per day that the report is late, up to $10,000 and imprisonment for up to two years.

Although the current deadline for BOI reporting is still in place, the Corporate Transparency Act has been ruled unconstitutional and is under appeal. You should seek additional directions related to this matter from your attorney. Due to the scope of the reporting, Peck & Gambish CPAs will not be filing this form for our clients.

Address

412 N Leavitt Road
Amherst, OH
44001

Opening Hours

Monday 8am - 5pm
Tuesday 8am - 5pm
Wednesday 8am - 5pm
Thursday 8am - 5pm
Friday 8am - 4pm

Telephone

(440) 988-2877

Website

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