BOI Update

We have previously shared information on the new BOI (Beneficial Ownership Information) regulations that went into effect. Refer to our December 2023 and January 2024 newsletters for more details on what is required.

We have been very transparent that we feel most business owners can complete this on their own. If interested in doing this, click the BOI Reporting link below to do so.

If you do not feel comfortable doing this, we can complete the BOI filing for you and our fee is $200. We will need a current government issued ID (driver's license or passport) with your current mailing address for any owner with at least 20% ownership in the business or anyone with significant control (regardless of ownership).

Unemployment Update

2024 has been a challenging year for the State of Colorado on the tax front

• Delayed processing of returns;
• Incorrect denial of EV credit claims
• Refunds mailed even though direct deposit was requested

Unfortunately, a recent system upgrade they made to the new Unemployment Insurance system created additional issues. There is one particular issue we want to highlight because you probably received letters with a demand for payment.

• Issue: A system error is preventing payments scheduled for future dates from being completed.
• Guidance: Please only select the current date to make payment to ensure the payment is processed correctly until this issue is resolved.

It is very common to file the UI report but request the payment be made on the last day possible (why let them have your money?). Unfortunately, this bug rejects those payments and you will get a past due letter. Reach out to us if you have received one and we can help you get it resolved.