Webinar: Navigating Federal Tax Compliance presented by The ERC Group

Registration for this Webinar has closed. Please contact Marisa Pangan at mpangan@cochawaii.org for late registration. Mahalo!

Register now for our Navigating Federal Tax Compliance Webinar presented by The ERC Group on Thursday, February 8 from 10:00 - 11:00 AM. 

Beginning on January 1, 2024, the Corporate Transparency Act (CTA) will require most formally established U.S. businesses (i.e. LLC, partnership, corporation, etc.) to report their beneficial ownership information (BOI) to the U.S. Treasury's Financial Crimes Enforcement Network. Certain exceptions to the requirements apply, including, but not limited to, nonprofits and large operating companies. Failure to report one's beneficial ownership in their company may result in a daily penalty of $500, imprisonment, and an additional $10,000 penalty.

Further, businesses and individuals with foreign bank accounts in excess of $10,000 per year (aggregated) are required to report such accounts to the U.S. Treasury?s Financial Crimes Enforcement Network. Willful Foreign Bank Account Reporting (FBAR) penalties are $100,000 per year (up to 6 years) or 50% of the highest aggregate account value during the year (whichever is greater). Nonwillful FBAR penalties can range from $10,000 per year, and may also include a mandatory 5% penalty in the event there were unpaid U.S. taxes. 

Learn about how failure to disclose beneficial ownership of foreign accounts can result in great detriment to business owners. 

The focus of The ERC Group is to help spread awareness about a government program that provides tax relief funding to our local economy, business owners, and nonprofits. Through this awareness program, they have gained a massive following of local business owners, who not only claimed their ERC but have formed new relationships and opportunities through our networking events.
 
The ERC Group is a businesses helping businesses.

To learn more about Azarvand Tax Law, you can visit their website at www.azarvandtaxlaw.com. You can also learn about The ERC Group at www.goterc.com and check out their KITV Island Life Hawaii segment here.

Can't join us live? No problem! Register to attend and we will send you the recording of the event afterwards. 

Featured Speakers:

Tina Azarvand
Tax Attorney
Azarvand Tax Law

Tina Azarvand is the owner of Azarvand Tax Law and also separately employed as a Tax Consultant for Strategic Tax Planning.

She is the recipient of various professional awards, including 2022 Young Volunteer of the Year, Best Lawyers: Selected to "Ones to Watch: 2023," and Super Lawyers: Rising Stars: 2023. These distinctions are given to attorneys who have demonstrated exceptional professional excellence in private practice in America.