Corporate Transparency Act – Beneficial Ownership Reporting

Der Corporate Transparency Act (CTA) schreibt vor, dass Unternehmen, die in oder von einem Staat (z. B. Florida) registriert oder zugelassen sind, die folgenden Informationen melden:

  • Eigentumsmeldungen: Unternehmen müssen Informationen über ihre ultimative, wirtschaftlichen, Eigentümer melden. Dies ist definiert als Personen, die entweder 25 % oder mehr der Eigentumsanteile des Unternehmens besitzen oder wesentliche Kontrolle über das Unternehmen ausüben können.
  • Einreichungsfrist: Diese Informationen müssen zum Zeitpunkt der Unternehmensgründung oder -registrierung eingereicht und innerhalb bestimmter Zeitrahmen bei Änderungen des wirtschaftlichen Eigentums aktualisiert werden. Erstmeldungen müssen bei bereits existierenden Firmen vor Jahresende 2024 erfolgen.
  • Ausnahmen: Bestimmte Unternehmen sind von der Meldung befreit, unter anderem börsennotierte Unternehmen und Unternehmen, die bestimmte Größen- und Betriebskriterien erfüllen.
  • Strafen bei Nichteinhaltung: Die Nichteinhaltung des CTA kann zu erheblichen Strafen führen, einschließlich Geldstrafen und möglichen Strafanzeigen.

Es ist wichtig zu beachten, dass Einreichungen im Rahmen des CTA NICHT unter den Internal Revenue Code (Steuergesetze) fallen und daher normalerweise NICHT Teil einer Steuererklärung oder Unternehmensregistrierung bei z. B. Sunbiz sind. Die CTA-Einreichungen unterscheiden sich von den regulären, jährlichen Einreichungen und erfordern in den meisten Fällen ein gesondertes Mandat.

Sebastian Nye-Schmitz, CPA

Principal of The Nye-Schmitz Accounting Firm, P.A.

Corporate Transparency Act – Beneficial Ownership Reporting

The Corporate Transparency Act (CTA) requires companies registered or chartered in or by a State (i.e. Florida) to report the following information:

  1. Beneficial Ownership Reporting: Companies must report information about their beneficial owners, defined as individuals who either own 25% or more of the company’s ownership interests or have substantial control over the company.
  2. Filing Deadline: This information must be filed at the time of company formation or registration, and updated within specified timeframes of any changes to the beneficial ownership. Existing entities have until the end of 2024 to file their initial report.
  3. Exemptions: Certain entities are exempt, such as publicly traded companies, government entities, and companies that meet specific size and operational criteria.
  4. Penalties for Non-Compliance: Failure to comply with the CTA can result in significant penalties, including fines and potential criminal charges.

It is important to note that filings under the CTA do NOT fall under the Internal Revenue Code and thus are NOT typically part of any tax return or corporate maintenance filing. The CTA filing requirements are separate and distinct from regular, annual, filings and most often require a separate engagement.

Sebastian Nye-Schmitz, CPA

Principal of The Nye-Schmitz Accounting Firm, P.A.

Neue “New Hire Reports”

Am 1. Oktober 2021 trat ein neues Gesetz in Florida in Kraft, das Unternehmen in Florida nun verpflichtet, grundlegende Informationen über neu eingestellte (oder wieder eingestellte) Personen an das Florida Child Support Program zu melden, unabhängig von der Größe des Arbeitgebers und unabhängig davon, ob die Person direkt als Arbeitnehmer angestellt wird oder als (Sub-)Unternehmer beauftragt wird. Meldungen müssen in der Regel innerhalb von 20 Tagen erfolgen. (§409.2576 F.S.)

Es ist jetzt wichtiger denn je, dass Unternehmen die Formulare W-9 vor Zahlung einfordern, nicht nur um 1099-(MISC- oder NEC)-Einreichungspflichten zu erfüllen, sondern auch um diese erforderlichen New Hire Reports einzureichen.

https://servicesforemployers.floridarevenue.com/Pages/home.aspx

Sebastian Nye-Schmitz, Esq., CPA
Sebastian Nye-Schmitz, Esq., CPA

Sebastian Nye-Schmitz, Esq., CPA ist Wirtschaftsprüfer bei The Nye-Schmitz Accounting Firm, P.A.

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(New) New Hire Reporting

On October 1, 2021, a new Florida Law took effect that now requires Florida Businesses to report basic information about newly hired (or re-hired) individuals to the Florida Child Support Program, regardless of the size of employer and also regardless of whether the individual is hired directly as an employee or as a (sub-)contractor. Reports must generally be filed within 20 days. (§409.2576 F.S.)

It is now more vital than ever that Businesses obtain Forms W-9 prior to issuing payments to not only meet their 1099(MISC or NEC) filing obligations but also to file these required “New Hire Reports.”

https://servicesforemployers.floridarevenue.com/Pages/home.aspx

Sebastian Nye-Schmitz, Esq., CPA
Sebastian Nye-Schmitz, Esq., CPA

Sebastian Nye-Schmitz, Esq., CPA is a Principal of The Nye-Schmitz Accounting Firm, P.A.

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2020er Steuererklärungen

Das U.S. Finanzamt hat heute bekannt gegeben dass die 2020er Steuererklärungen frühestens ab 12. Februar 2021 eingereicht werden koennen. Die Verzögerung entstand weil das IRS die Systeme neu programmieren und testen muss um die Gesetzesänderungen von H.R. 133 einzuarbeiten die von President Trump am 27. Dezember 2020 verabschiedet wurden.

Sebastian Nye-Schmitz, Esq., CPA
Sebastian Nye-Schmitz, Esq., CPA

Sebastian Nye-Schmitz, Esq., CPA ist Wirtschaftsprüfer bei The Nye-Schmitz Accounting Firm, P.A.

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2021 Tax Filing Season

Today the IRS announced that they will open their 2021 tax filing season (for 2020 tax returns) on February 12, 2021. Until that time, the IRS will do additional programming and testing of their systems related to the law changes brought about by H.R. 133, signed by President Trump on December 27, 2020.

Sebastian Nye-Schmitz, Esq., CPA
Sebastian Nye-Schmitz, Esq., CPA

Sebastian Nye-Schmitz, Esq., CPA is a Principal of The Nye-Schmitz Accounting Firm, P.A.

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Coronavirus Relief

The United States Government has passed several measures to provide relief for U.S. Taxpayers. Some of practical measures include the extension of the filing deadline for many Income Tax Returns until July 15, 2020. Payments of taxes due on those returns have also been extended until July 15, 2020.

Additionally, many U.S. Taxpayers are eligible for payment of an “Economic Impact Payment” of $1,200 per person (and $500 per qualifying child). While the rules related to eligibility are somewhat complex the basic eligibility requires the following:

  • Taxpayer must be a U.S. Citizen, Permanent Resident or qualifying Resident Alien (with Social Security Number valid for Employment).
  • Taxpayers must have either filed a 2018 or 2019 tax return and cannot have been a dependent of another.
  • AGI on the respective tax return must be less than $75,000 (if filing as Single or Married Filing Separately), $112,500 (if filing as Head of Household) or $150,000 (if filing a joint return) to receive the full $1,200 per person (plus $500 per qualifying child) payment.
  • Taxpayers having an AGI higher than the above thresholds but less than $99,000 (Single, MFS), $136,500 (HoH), or $198,000 (MFJ), will receive a reduced payment.

The rollout of these payments has been a bit complicated because “automatic” payments are made into bank accounts that are on file with the U.S. Treasury. This means that if you have entered bank account information into an electronically filed Tax Return in recent years (by having made payments from, or received refunds into, a bank account) then the Treasury will directly deposit money into that account on your behalf. If you have not used direct debit or deposit and have received checks in the past, you may be able to input your bank account information through the IRS Web-Site.

Unfortunately, there have been a number of complications that may result in paper checks having to be mailed. According to news reports, these are significantly delayed so that the Impact Payment may arrive too late to be of immediate benefit.

One such case was a client who had last had to make a payment several years ago and had since closed that bank account. The IRS attempted to deposit the payment into that account and it was rejected. The client was not given the opportunity to update his information and instead now has to wait for a paper check to be issued, possibly months from now.

You will find a comprehensive resources on the IRS Webpages:

https://www.irs.gov/coronavirus/economic-impact-payment-information-center

https://www.irs.gov/coronavirus/get-my-payment-frequently-asked-questions

Sebastian Nye-Schmitz, Esq., CPA
Sebastian Nye-Schmitz, Esq., CPA

Sebastian Nye-Schmitz, Esq., CPA is a Principal of The Nye-Schmitz Accounting Firm, P.A.

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