CORPORATE TRANSPARENCY ACT
New Rules Require Beneficial Ownership Reporting to FinCEN
Reporting MANDATORY and EFFECTIVE - June, 2025
NEED TO KNOW: The Corporate Transparency Tax Act is designed to help the U.S. government collect information to prevent the use of the U.S. financial system for illicit activities.
All domestic entities and any foreign entity registered to do business in the United States must report beneficial ownership information.
The reporting is MANDATORY and there are penalties for noncompliance.
TAX FILING DOCUMENTS
CORPORATion | FRANCHISE | INDIVIDUAL
*ALL CHECKLIST DOCUMENTS ARE AT THE BOTTOM OF THIS PAGE*
FRANCHISE RETURN - FILED WITH CORPORATE RETURN
TEXAS STATE FRANCHISE Returns must be filed with Corporations, LLC & Partnerships.
Franchise Tax Returns must be received and filed by May 15, 2025, for the 2024 tax year.
WEB FILE NUMBER: The State of Texas will assess a penalty for filing a Franchise Return without a Web File Number. Please provide a Web File Number to prepare a Texas State Franchise Return for Tax Year 2024.
Franchise Tax Return cannot be E-filed without a web file number.
Web File Contact Telephone#: 800-252-1381 State of Texas Franchise Division.
TAX EXTENSIONS
2024 INDIVIDUAL TAX RETURN - EXTENSION
DUE DATE: April 15, 2025
If an Individual Extension has been filed, the due date is: October 15th, 2025
2024 CORPORATE TAX RETURN - EXTENSION
DUE DATE: March 17, 2025
If a Corporate Extension has been filed, the due date is: October 15th, 2025
OUR OFFICE WILL NOT ASSUME RESPONSIBILITY FOR LATE FILING, PENALTIES AND INTEREST DUE TO YOUR LACK OF PREPARATION AND DELIVERY OF COMPLETED DATA.
RETURNS WILL NOT BE PROCESSED IF data is not received by due dates
PLEASE NOTE THE FOLLOWING
AS A RESULT OF YOUR DELAY IN RESPONDING TO OUR REQUEST FOR MISSING OR INCOMPLETE DATA, OUR OFFICE WILL NOT ASSUME RESPONSIBILITY FOR ANY INTEREST OR PENALTIES DUE TO YOUR INABILITY TO DELIVER THE REQUIRED INFORMATION TIMELY.
Please access the forms and other information at the bottom of this page.
YOU MUST BE ABLE TO SUBSTANTIATE AND VERIFY ALL DEDUCTIONS SUBMITTED WITH YOUR TAX RETURN PREPARATION.
DROPOFF & DELIVERY OF DATA
TAX PREPARATION - If MISSING data is not received by FEBRUARY 5th, 2025, we will not be able to complete any Corporation, Partnership, or LLC returns.
New Clients
PLEASE PROVIDE PRIOR-YEAR TAX RETURNS FOR REVIEW, INCLUDING ANY AUDIT INFORMATION.