Parasec

Federal Tax Identification Numbers/EINs Parasec can assist your business in obtaining its Federal Employer Identification Number (EIN), also known as a federal tax identification number. This is a unique nine-digit number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States. Federal EINs are necessary for various purposes, including reporting beneficial ownership information (BOI) to FinCEN, filing corporate taxes, opening a business bank account, applying for business licenses and permits, as well as meeting various employee needs such as hiring and payroll. Our team is knowledgeable about the IRS application process and requirements and can help ensure that your EIN application is completed accurately. We will file your EIN application directly with the IRS, manage the approval period, and send you the official documentation with your confirmed identification number. Ready to apply for your EIN? Reach out to our team at parasec@parasec.com. #EINs #SS4 #FederalTaxIdentificationNumbers #Parasec

Beneficial Ownership Information (BOI): Reporting Requirements for Entities that Have Ceased to Exist The Financial Crimes Enforcement Network (FinCEN) has recently updated its FAQs section on beneficial ownership information (BOI) to provide answers to questions about inactive entities. We've received multiple inquiries from clients about this issue, so we're grateful that FinCEN is offering additional clarity on the topic. Please take a look at our blog post about this matter to see if it applies to your entity's situation. https://lnkd.in/g9_jA2mg #CTA #BOIReports #BOI #FinCEN #Parasec #Compliance

According to recent statements from a representative at the Financial Crimes Enforcement Network (FinCEN), approximately two million beneficial ownership information reports (BOIRs) have been submitted so far. This number falls short of the 32 million businesses that FinCEN anticipated would need to submit reports by the end of 2024. With only six months remaining to submit, now is a good time to start gathering the necessary information. You can use our BOI Filing Prep Checklist to help ensure a smooth filing process. Find it on our website at: https://lnkd.in/gdDy2r2M If you have any questions or need help with filing your BOI report, please feel free to contact us at BOI@parasec.com. Our support team is ready to assist you! #BOIR #CTA #BeneficialOwnershipInformation #Compliance #BOIs #CorporateCompliance #FinCEN #Parasec

Unfortunately, we have observed a rise in misleading mailers targeting business owners who may need to comply with the Corporate Transparency Act (CTA). These companies use fear tactics and urgent language to pressure business owners into paying excessive fees for their beneficial ownership information report (BOIR) services. The recent mailers from two different companies featured QR codes and websites that were either inactive or triggered potential phishing warnings. If you receive any suspicious documentation, please contact our office at 800.533.7272 for assistance. Our team is familiar with these fraudulent schemes and can help verify the authenticity of any documents you receive. If you would like more information about Parasec's BOIR services, please do not hesitate to contact us at BOI@parasec.com. #CTA #FinCEN #EntityCompliance #MisleadingMailers #BOIReport

At Parasec, we are truly fortunate to have a team of employee-owners who are wonderful, intelligent, and committed. Each month, we take a moment to acknowledge and celebrate work anniversaries, and it serves as a reminder of how lucky we are to have such outstanding team members. Please join us in congratulating four special individuals this month! #TeamParasec #EmployeeOwners #ESOP #WorkAnniversaries #CorporateCompliance #EntityFormations

Happy 4th of July! Just a reminder that our offices are closed today, Thursday, July 4, in observance of Independence Day. Normal business hours will resume on Friday, July 5. 

Please be aware that there is a misleading mailer targeting business owners who may be required to file a beneficial ownership information (BOI) report with the Financial Crimes Enforcement Network (FinCEN) under the Corporate Transparency Act (CTA). The mailers are sent from an entity called FinCEN Alliance. Although the document looks official, it is sent from a company unrelated to any government agency. The small (very small) print does state this, but it is easily overlooked compared to the bolded, urgent language used throughout the document, such as "final attempt," "immediate response requested," and "important - do not discard." The mailers also prominently display a logo strikingly similar to that of the FinCEN logo and repeatedly mention "penalty," pressuring recipients to visit the website and file immediately. At the time of writing, the FinCEN Alliance website was inaccessible. If you any receive suspicious documentation, we encourage you to call our office at 800.533.7272 for assistance. Our team is well-versed in these types of misleading scams and can help determine the authenticity of any documents you receive. #CTA #FinCEN #EntityCompliance #TeamParasec #MisleadingMailers #BOIReports #BeneficialOwnershipInformation

Today, we commemorate Juneteenth, which marks the anniversary of the day when the last enslaved African Americans in Galveston, Texas finally learned that slavery had been abolished. A message that came more than two years after President Abraham Lincoln issued the Emancipation Proclamation. This pivotal moment in American history serves as a reminder of the ongoing fight for justice and equality for all. Let’s join together to observe this day with respect, compassion, education, and a shared dedication to continuing the ongoing fight. #juneteenth

Please note that all federal government offices and many state offices across the country are closed today, June 19, 2024, in observance of Juneteenth. Parasec's offices will remain open. We have been alerted regarding closures in the following states: Alabama, Colorado, Connecticut, District of Columbia, Delaware, Georgia, Idaho, Illinois, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Nebraska, New Mexico, New York, Ohio, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Utah, Virginia, Washington, and West Virginia.

At Parasec, we're incredibly fortunate to have such an outstanding team of individuals. Our employee-owners consistently demonstrate that working at Parasec is more than just a job—it's a community where we care for one another and for our clients. We support each other and strive to deliver the best solutions for our clients. This month, we're celebrating the work anniversaries of some invaluable team members who contribute significantly to our team and our company culture. We are grateful for their dedication, hard work, and, most importantly, for the wonderful people they are. They are delightful, funny, caring, considerate, and intelligent, and the list goes on. Please join us in congratulating them on their work anniversaries this month! #ESOP #employeeowners #employeeanniversaries #TeamParasec