Tax Compliance Services
With years of experience in tax preparation, tax planning, and specialized ITIN services, we are proud to be an IRS Certified Agent and Certified Acceptance Agent (CAA), committed to providing accurate, compliant, and strategic tax services.
At LAC, we specialize in personalized tax planning and consultation, ensuring our clients maximize their deductions while fully complying with IRS guidelines. Our expertise extends to ITIN services, assisting individuals and businesses in obtaining Individual Taxpayer Identification Numbers (ITINs) efficiently and quickly. In addition, we offer specialized Beneficial Ownership Information (BOI) services, guiding clients through the complexities of ownership reporting and ensuring full regulatory compliance, particularly with anti-money laundering and transparency laws.
We also provide expert services for Form 2290 (Heavy Vehicle Use Tax), ensuring that your vehicle registration is completed on time and complies with federal tax requirements.
With clear communication and tailored services, we are dedicated to meeting each client’s unique needs and providing the highest expertise and customer care.
To book our services today, follow these easy steps:
1. Choose Your Service
2. Set Your Appointment
3. Confirm Your Appointment
After we confirm your service and time, we’ll send you an appointment reminder with any additional instructions.
Services
Tax Return Services
Tax Return Services
Tax Return Services
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ITIN NUMBER
Tax Return Services
Tax Return Services
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Beneficial Ownership Information (BOI)
Beneficial Ownership Information (BOI)
Beneficial Ownership Information (BOI)
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Form 2290 (Heavy Vehicle Use Tax)
Beneficial Ownership Information (BOI)
Beneficial Ownership Information (BOI)
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Tax Preparation FAQs:
Please reach us at lacmultiser@gmail.com if you cannot find an answer to your question.
A: You'll need documents such as:
- W-2 forms (for employment income)
- 1099 forms (for freelance or contract income)
- Proof of other income (interest, dividends, etc.)
- Social Security numbers for you, your spouse, and dependents
- Receipts for deductible expenses (medical, charitable donations, business expenses)
- Last year’s tax return (if available)
A: Costs vary based on the complexity of your tax situation. A simple return may cost less, while a more complex tax situation (such as business taxes or multiple state filings) may require a higher fee. We offer a free consultation to estimate the cost.
A: Yes, we provide an easy and secure way to file taxes online. Our tax preparers will guide you through the process, ensuring you maximize your deductions and credits.
A: It depends. If your income is below the filing threshold, you may not be required to file. However, you may still want to file to claim refunds, credits, or to avoid future complications.
A: If you missed the deadline, you could file for an extension. However, you may still be subject to late penalties or interest on any unpaid taxes. Contact us as soon as possible, and we can help you get back on track.
ITIN Number FAQs:
Please reach us at lacmultiser@gmail.com if you cannot find an answer to your question.
A: An Individual Taxpayer Identification Number (ITIN) is a nine-digit number issued by the IRS to individuals who are not eligible for a Social Security Number (SSN) but need to file taxes or are required to be reported for tax purposes.
A: You need an ITIN if you are:
- A non-resident alien who needs to file taxes in the U.S.
- A dependent or spouse of a U.S. citizen or resident alien
- Someone who is required to report income to the IRS but is not eligible for an SSN
A: You can apply for an ITIN by filling out Form W-7 (Application for IRS Individual Taxpayer Identification Number) and submitting it with the necessary documents, including proof of identity. We can help you complete the form and submit it for processing.
A: The IRS typically takes 7-11 weeks to process your ITIN application. During peak seasons, it may take longer. We can guide you through the process and ensure all required documents are correctly submitted.
A: No, an ITIN is only for tax purposes and cannot be used to work in the U.S. or claim Social Security benefits. It serves only as a way to report taxes to the IRS.
A: While an ITIN is primarily for tax filing purposes, it may also be used to open a bank account, apply for certain loans, or for other activities that require an identification number, depending on the financial institution.
BOI (Beneficial Ownership Information) FAQs:
Please reach us at lacmultiser@gmail.com if you cannot find an answer to your question.
A: Beneficial Ownership Information (BOI) refers to information about the individuals who own or control a company or legal entity. This includes details about the beneficial owners, such as their identity and the nature of their ownership or control of the entity. required to be reported for tax purposes.
A: BOI is required to enhance transparency, prevent money laundering, and fight terrorist financing. The information helps governments and regulatory authorities track ownership structures and understand who controls a company, ensuring that entities are not used for illicit activities.
A: A beneficial owner is an individual who directly or indirectly owns or controls a company. This typically includes individuals who own 25% or more of a company’s shares or voting rights, or who otherwise exercise control over the company through other means (e.g., the ability to influence major decisions).
A: The requirement to disclose BOI typically applies to corporations, limited liability companies (LLCs), and other entities operating in certain jurisdictions. The requirements can vary based on the country or region, but many jurisdictions now require entities to report their beneficial ownership information to national authorities.
A: The required information often includes:
- Full legal name of the beneficial owner
- Date of birth
- Nationality
- Residential address
- Type of ownership or control
- Percentage of ownership or voting rights
A: The accessibility of BOI information varies by jurisdiction:
- In some countries, the information is accessible to government agencies, regulatory bodies, and law enforcement.
- In certain cases, BOI information may be publicly available to ensure transparency.
- In other cases, it may be available only to authorized parties or entities involved in financial transactions, such as banks.
A: Yes, even privately held companies are often required to disclose their beneficial ownership, depending on local regulations. This is important for ensuring transparency in the ownership structure, regardless of whether the company is publicly traded.
A: BOI information typically needs to be updated annually or when there is a significant change in ownership or control (e.g., if someone acquires more than 25% ownership). The exact requirements depend on local regulations.
A: In many jurisdictions, the BOI can be updated online through the regulatory or government portal. If you are unsure of how to update your BOI information, consult with legal or accounting professionals familiar with the specific reporting requirements in your jurisdiction.
A: Yes, failure to disclose BOI or providing false information can lead to legal penalties, fines, or other sanctions. Penalties vary depending on the country or regulatory body enforcing the rules.
A: Some jurisdictions may allow certain exemptions, such as for very small companies or entities that meet specific criteria. However, in general, most entities are required to report their beneficial owners to comply with anti-money laundering (AML) and counter-terrorism financing (CTF) laws.
A: To ensure compliance, it is essential to:
- Regularly review the ownership structure of your company.
- Work with a legal or compliance expert who understands local regulations.
- Submit updated BOI filings whenever there are changes in ownership or control.
- Stay informed about changes to laws or regulations that may impact your reporting obligations.
A: The process for submitting BOI information depends on the jurisdiction in which your company is registered. Typically, it involves filling out a form or submitting an online application through the relevant government department or registry.
2290 (Heavy Vehicle Use Tax) FAQs:
Please reach us at lacmultiser@gmail.com if you cannot find an answer to your question.
A: Form 2290 is used to report and pay the Heavy Vehicle Use Tax (HVUT), which is a federal tax on vehicles that operate on public highways and have a gross weight of 55,000 pounds or more. The tax helps fund the repair and maintenance of highways.
A: Owners of heavy vehicles that weigh 55,000 pounds or more and operate on public highways must file Form 2290. This includes:
- Trucks, buses, and other vehicles used for business purposes.
- Vehicles used for transportation of goods or passengers.
- New and used vehicles subject to the HVUT.
A: Form 2290 must be filed annually, and the deadline is typically August 31st of each year. If you purchased a new heavy vehicle, you must file within 30 days of its first use.
A: Form 2290 can be filed:
- Online: Through the IRS e-file system or authorized e-file providers.
- By mail: You can mail a paper copy to the IRS with payment for the tax due.
Filing online is usually quicker and more convenient, and it allows you to receive confirmation from the IRS.
A: To file Form 2290, you'll need:
- Vehicle identification numbers (VINs) of all vehicles you’re reporting.
- The gross weight of the vehicle.
- Payment for the tax due (if applicable).
- Schedule 1 (which you receive after filing) for proof of payment.
A: The tax rate depends on the gross weight of the vehicle:
- For vehicles between 55,000 and 75,000 pounds, the tax rate starts at $100 per vehicle and increases based on weight.
- For vehicles over 75,000 pounds, the tax rate can go higher.
A: Yes, if you own multiple qualifying vehicles, you need to file Form 2290 for each one. You will report each vehicle's weight and VIN separately.
A: You can pay the HVUT through:
- Electronic funds withdrawal (EFW) if you e-file your return.
- Check, money order, or credit card when submitting a paper form.
- Direct debit or credit card payment via IRS-approved payment processors.
A: Failure to file Form 2290 or pay the HVUT on time can result in penalties and interest. The IRS imposes a penalty for late filing and failure to pay, which can increase the longer the payment is overdue.
A: Schedule 1 is a part of Form 2290, and it serves as proof of payment of the Heavy Vehicle Use Tax. Once you file and pay, the IRS will issue you a stamped Schedule 1, which you will need to provide to your state Department of Motor Vehicles (DMV) when registering your vehicle.
A: Yes, if you have sold or disposed of a vehicle, or it was not used on public highways during the tax year, you can claim a refund for the taxes paid on that vehicle. You’ll need to file an amended Form 2290 (Form 2290 Schedule 6) to request the refund.
A: Some vehicles may be exempt from the Heavy Vehicle Use Tax under specific circumstances. For example:
- Agricultural vehicles used for farming purposes.
- Vehicles operating only in specific locations (such as construction sites).
- Vehicles with a gross weight below 55,000 pounds.
A: Once you file and pay your tax through e-filing, the IRS will provide a stamped Schedule 1 electronically, which you can download and print. If you file by mail, you’ll receive a physical copy from the IRS.
A: Yes, you can file Form 2290 after the due date, but you will likely incur penalties and interest for late filing. It’s best to file as soon as possible to minimize these charges.
A: Yes, if you made an error in your initial filing, you could file an amended Form 2290 to correct the mistake, such as incorrect VINs or weight information.
REMINDER
Don't forget to do the IFTA report