We are pleased to announce that Johnny Wong has rejoined to our partnership effective January 1, 2011. Johnny is one of the original founders of our predecessor firm (Leung, Wong & Choi) but he left the practice to join a client a few years ago.
Many of you have worked with Johnny in the past. Please help us welcome him back and feel free to contact us if you have any questions.
* For taxpayers who operate a business, either as a sole proprietorship or in an entity, there may be additional filing requirements in January and February. In General, payroll tax returns, Form W-2’s and Form 1099 must be issued to recipients by January 31 and filed by February 28.
* The fees paid to our firm from your business should be reported on Form 1099 and issued to us as follows:
Leung, Louie, Ip & Co. LLP
2001 Junipero Serra Blvd, Suite 550
Daly City, CA 94014
* Please note that beginning 2011, the IRS no longer accepts federal tax deposits via Form 8109 through your bank. Therefore, you must register with the IRS for EFTPS deposits to make your payroll tax deposits as well as any income tax payments.
Please contact us if you need assistance with any of these services.
We will be implementing paperless filing of tax returns this year which will mean the following:
* At this time, you will still receive a paper copy of your return. In the near future, your copy of the return will be available as an electronic file for you to download.
* You will no longer need to send out the filing copy of the return. Instead, you will need to review the paper copy and approve the return by signing and returning a form authorizing us to file electronically on your behalf.
* If you have a payment due, you will need to make payment separately from the filing of the return.
* Additional information and instructions will be included with our upcoming correspondence.