We Are Moving!
We at Siepert & Co., LLC are excited to share that our Beloit, WI and Roscoe, IL office locations are merging and relocating to 1511 N Blackhawk Blvd. Rockton, IL 61072 in the Fall of 2025!
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Beneficial Ownership Information (BOI) Reporting Requirments
As part of the Anti-Money Laundering Act of 2020 and the Corporate Transparency Act (CTA), the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) was authorized to collect Beneficial Ownership Information (BOI) and establish Beneficial Ownership Information reporting requirements for certain corporations, limited liability companies, and similar entities created in or registered to do business in the U.S.
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Illinois Secure Choice Savings Program
The Illinois Secure Choice Savings Program is a state-mandated retirement savings program that offers Illinois businesses the option to either enroll their employees into the Secure Choice Plan or offer a qualified retirement savings plan, such as a 401(k).
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Misclassification of Employees as Independent Contractors
If your company has delivery drivers who are paid as independent contractors, you may be putting your business at risk. The misclassification of employees as independent contractors has become a focus of enforcement efforts by both the Department of Labor (DOL) and the Internal Revenue Service (IRS).
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Potential FUTA Credit Reductions in Illinois
If you’ve been following the news, you’ve likely heard that Illinois has outstanding federal unemployment trust fund loans. If Illinois does not repay the loans by the deadline, Illinois employers may be subject to an Illinois FUTA credit reduction.
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2022 Illinois Secure Choice Program
The Illinois Secure Choice Savings Program is a retirement savings program that offers Illinois businesses the option to either enroll their employees into the Secure Choice Plan or offer a qualified savings plan, such as a 401(k).
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Taxpayers: Beware of IRS Phone Scams
An IRS phone scam occurs when criminals impersonate IRS agents and demand immediate payment or personal information. Taxpayers should be aware that the IRS follows specific procedures and will not make aggressive or threatening phone calls demanding payment.
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New Online Identity Verification Process for IRS Online Tools
The Internal Revenue Service has announced a new identity verification process that taxpayers will use to access IRS online services. Under the new IRS online identity verification process, taxpayers will use ID.me to sign in to certain IRS online tools.
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