Payroll services for Michigan Businesses
We offer payroll services that meet your business needs, including:
- Timely electronic payment of IRS and state taxes
- Issuance of W-2, W-3 and 1099’s
- Generation of detailed payroll reports
- Direct deposit and electronic fund transfer (EFT)
- Providing employees with a detailed pay stub
Beneficial Ownership Information Reporting
In 2021, Congress passed the Corporate Transparency Act (CTA) on a bipartisan basis. In September 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) report. Many companies are required to report information to FinCEN about the individuals who ultimately own or control them. The BOI reporting will enhance the ability of government agencies to protect national security and financial systems from illicit use and help prevent drug traffickers, fraudsters, and other criminals from laundering or hiding money in the United States.
For complete details on the CTA’s BOI reporting requirements, visit the official website at https://fincen.gov/boi.
Who is required to file?
A. BOI Reporting Requirement
All entities created in the United States, including those previously known as “domestic reporting companies” and their beneficial owners are now exempt from the requirement to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA).
How and where to submit the report?
B. BOI Reporting Process
A reporting company required to submit its beneficial ownership information to FinCEN must file electronically through FinCEN’s secure BOI E-Filing system, available at https://boiefiling.fincen.gov.
The reporting form can be accessed directly on FinCEN’s BOI E-Filing website at https://boiefiling.fincen.gov.
Disclaimer The contents provided on this website regarding Beneficial Ownership Information Reporting are for informational purposes only and do not include all legal provisions. It is not intended as legal advice. For complete and up-to-date details on BOI Reporting, please visit the official website at https://boiefiling.fincen.gov or consult a legal professional.