Erica Harriman CPA LLC

12/29/2024

The BOI reporting has been held up again. Another injunction on December 26th. Meanwhile FinCen has extended the filing deadline from January 1st to January 13th.

12/24/2024

If you own an LLC or corporation (and some tax exempt organizations), you need to file the BOI report before January 1st. A few weeks ago there was an injunction against the filing requirement. An appeals court has reinstated it.
We do not provide this service nor give advice regarding the requirements, however because this requirement has been off and on again, and has stiff penalties for failure to file, we wanted to bring it to your attention.

03/12/2024

UPDATE: We are back in business and will be back in the office tomorrow (Thursday, March 14th). Thank you for your patience and understanding......

Our office is temporarily closed. At this time we can’t be certain when we will be returning so please call before you come in. We will be checking voicemail throughout the day.

10/30/2023

Effective October 19, 2023, businesses and individual taxpayers who make payments electronically via the Electronic Federal Tax Payment System (EFTPS) must utilize Multi-Factor Authentication (MFA). The primary goal is to further enhance the website’s security and safeguard against unauthorized access threats.

This change is imperative for all organizations and individuals who make federal tax payments, including those using forms such as 941, 945, 1120, and 990 through the EFTPS website.

Action Required for Seamless EFTPS Use

Following the rollout on October 19, 2023, when you log into the EFTPS site, you will be prompted to register and authenticate through either Login.gov or ID.me. Only then can you proceed with your standard inputs, including your EIN or SSN, PIN, and password.

Your Tax Payment Dates Remain Unchanged

05/11/2023

Worth considering if your business fits the criteria.

Applicants have June 23 to apply for a share of $29 million in forgivable business loans ranging from $10,000 to $500,000.

01/11/2023

Here's hoping you need this...

Getting smart about lottery tax planning might literally save you and your heirs hundreds of millions of dollars

06/21/2022

For those looking at more information on the State of Maine Relief checks now being distributed: https://www.maine.gov/governor/mills/relief-checks

06/07/2022

IRS—Tax Return Processing Status Update: The IRS has updated information on their "What You Can Expect" section of www.irs.gov. As of 5/14/22, the IRS had 9.8 million unprocessed individual returns received before 2022 as well as new tax year 2021 returns. The backlog includes 7.4 million paper returns waiting to be processed and 2.4 million unprocessed individual returns requiring error correction and other special handling. In addition, the IRS had 2.2 million unprocessed Form 1040-X (Amended Individual Tax Return). Filers of amended returns should expect their returns to be processed more slowly than the normal 16 weeks. According to the IRS, they had 3.7 million unprocessed Form 941 (Employer Quarterly Federal Tax Return) and 264,000 unprocessed Form 941-X (Amended Employer Quarterly Federal Tax Return). No estimated time frame for processing these returns was offered.

Pay your taxes. Get your refund status. Find IRS forms and answers to tax questions. We help you understand and meet your federal tax responsibilities.