News & Analysis as of

EIN

Smith Anderson

The Corporate Transparency Act - New Guidance on Reporting Obligations

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As discussed in our three prior client alerts, effective as of January 1, 2024, the Corporate Transparency Act (“CTA”) and rules issued thereunder by the Financial Crimes Enforcement Network (“FinCEN”) require most U.S....more

Jackson Lewis P.C.

First Things First – Initial Steps for Employers Expanding into the Golden State

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With a state as large and diverse as California, it appeals to businesses. However, the state’s unique employment law requirements can pose challenges to employers new to the state. The following are some action items...more

Fox Rothschild LLP

IRS Issues New Guidance for Cannabis Companies That Receive Over $10K in Cash

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The IRS’s Office of Chief Counsel recently published a memorandum providing information for cannabis companies struggling to comply with the completion of Form 8300, which must be filed every time a company receives a cash...more

Fox Rothschild LLP

IRS Issues New Guidance for Cannabis Companies That Receive Over $10K Cash

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The IRS’s Office of Chief Counsel recently published a memorandum providing information for cannabis companies struggling to comply with the completion of Form 8300, which must be filed every time a company receives a cash...more

Dunlap Bennett & Ludwig PLLC

Corporate Transparency Act Requires Small Businesses To Disclose Beneficial Ownership Information Beginning In 2024

In January of 2021, Congress passed the Corporate Transparency Act of 2019 (the “CTA”) as part of the 2021 Defense Bill. Initially introduced in 2019, the CTA requires private companies to disclose their “Beneficial Owners”...more

Dunlap Bennett & Ludwig PLLC

Considerations When Hiring Employees Or Independent Contractors

If you are thinking about going into business or are already in business, the task of hiring for your business can be quite daunting. There are several things to consider before hiring an employee or an independent...more

Husch Blackwell LLP

Administering Irrevocable Trusts – A Checklist for Trustees

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A friend, family member, or client has just created an irrevocable trust naming you as the trustee, and you may be asking yourself, “What do I do now?” Serving as a trustee comes with a lot of responsibility. Here are a few...more

Cooley LLP

Employer Identification Numbers: What Nonprofits Should Know

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Nonprofit founders are often surprised to learn that the United States Internal Revenue Service (the IRS) requires nonprofits obtain an Employer Identification Number (also called an EIN), even if the nonprofit does not have...more

Husch Blackwell LLP

Final Rules Issued on Private Plans Under Colorado's Paid Family and Medical Leave Insurance Act

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On November 1, 2022, the Family and Medical Leave Insurance Division (the Division) of the Colorado Department of Labor and Employment adopted final rules that employers must follow to offer private plans under Colorado’s...more

Holland & Hart - The Benefits Dial

Old MacDonald Had a Farm…EIN Confusion?

The trusts maintained to hold assets of ERISA plans are separate tax entities from the employers sponsoring the plans. Therefore, each is required to have its own federal tax ID number. Knowing when and where to use whose EIN...more

Vicente LLP

How to Get Started on Your New York Cannabis Business License Application

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New York’s adult-use cannabis industry is underway, and with the release of more license categories on the horizon, we are gearing up for a historical licensing round. To beat the summer slump, VS’s New York team created an...more

Husch Blackwell LLP

Timeline Approaches for Certification of AAPs under OFCCP Compliance Obligations

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The Office of Federal Contract Compliance Programs (OFCCP) requires supply and service contractors and subcontractors (collectively referred to as “contractors”) that meet certain jurisdictional thresholds to develop and...more

McDermott Will & Emery

Weekly IRS Roundup July 26 – July 30, 2021

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 26, 2021 – July 30, 2021... July 26, 2021: The IRS issued Notice 2021-46 as a supplement...more

Foley Hoag LLP

EIN Processing on Hold

Foley Hoag LLP on

Due to COVID-19 closures at the Internal Revenue Service (IRS), EIN applications that are submitted by telephone, fax or mail currently are not being received or processed. Accordingly, non-U.S. applicants (who generally are...more

Foodman CPAs & Advisors

Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process?

An EIN is also known as a Federal Entity Tax Identification Number (EIN) and is used to identify a business entity such as a sole proprietorship, corporation, partnership, estate, trust, and other entities for tax filing and...more

BCLP

IRS Revises EIN Application Policy, Now Requires an Individual to be Listed as the “Responsible Party”

BCLP on

The IRS announced on March 27, 2019 that in an effort to enhance security and improve transparency, the “responsible party” on applications for an employer identification number (EIN) must now be a natural person. An EIN...more

Harris Beach PLLC

IRS Aims to Reduce Confusion over Employer Identification Number Applications

Harris Beach PLLC on

In December, 2017 the Internal Revenue Service (IRS) released a revised Form SS-4, Application for Employer Identification Number and related instructions. An employer identification number (EIN) is a nine-digit number...more

Troutman Pepper

Combatting Foreign Tax Evasion With New Filing Requirements for Foreign-Owned Disregarded Entities: Tax Update, Volume 2017, Issue...

Troutman Pepper on

If a non-U.S. person (individual or corporation) owns 100 percent of the stock of a U.S. corporate subsidiary, the subsidiary needs to obtain an employer identification number (EIN) and maintain adequate books and records to...more

Dentons

An HR Checklist for New Employers: You have Your Ship, and Now You Need Your Crew; How to Get Your 'Ship' Together

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Starting a business is not always simple. Being an employer carries with it a number of obligations and it is important to know the ropes prior to even hiring your first employee. Below is a condensed HR checklist that...more

Alston & Bird

Through the Looking Glass: Reporting by Foreign-Owned Disregarded Entities

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Generally, a disregarded entity is not subject to U.S. tax or information reporting, so the IRS is limited to gleaning information from tax filings by an entity’s owner. But foreign owners of disregarded entities often do not...more

Littler

Important Reminders for Employers Regarding this Year's H-1B Cap

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As we head into the final month before petitions for H-1B visas must be filed for Fiscal Year 2017, employers should keep the following information in mind: FEIN Validation - If an employer has not filed a labor...more

Cooley LLP

Blog: Post-Incorporation Checklist: 10 Next Steps to Consider

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You’ve taken the plunge and formed your business as a Delaware corporation. What do you need to do next? This post, along with the companion piece 8 Legal To-Dos Before Your First Investment, is intended to help you identify...more

Snell & Wilmer

Employer Identification Numbers: Updating Responsible Party Information

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When filing for an Employer Identification Number (EIN), which is required for purposes of tax administration, the applicant must disclose the name and taxpayer identification number (e.g., Social Security Number, Individual...more

Stinson - Benefits Notes Blog

Have You Told The IRS That Your “Responsible Party” Has Changed?

Beginning on January 1, 2014, any entity with an employer identification number (EIN) issued by the Internal Revenue Service (IRS) must report a change in the identity or address of its “responsible party” within 60 days of...more

BakerHostetler

Required Updates for Entity-Assigned EINs

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On May 3, 2013, the IRS issued final regulations that will require all persons (including trusts and estates) with employer identification numbers (“EIN”) to provide updated information to the IRS in a prescribed manner...more

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