LGM Accounting Services

Your trust in LGM Accounting Services is our greatest asset, and we are honored to be your partner in financial growth.

Let us handle your finances while you focus on growing your business.

📈 Ready to streamline your business accounting? Send us a message today to learn more about our services!

📢 𝗕𝗜𝗥 𝗨𝗣𝗗𝗔𝗧𝗘 | 𝗥𝗠𝗖 𝗡𝗼. 𝟴𝟰-𝟮𝟬𝟮𝟲

The 𝗕𝘂𝗿𝗲𝗮𝘂 𝗼𝗳 𝗜𝗻𝘁𝗲𝗿𝗻𝗮𝗹 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 (𝗕𝗜𝗥) has issued 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗠𝗲𝗺𝗼𝗿𝗮𝗻𝗱𝘂𝗺 𝗖𝗶𝗿𝗰𝘂𝗹𝗮𝗿 (𝗥𝗠𝗖) 𝗡𝗼. 𝟴𝟰-𝟮𝟬𝟮𝟲, which clarifies the guidelines and procedures for the availment of the 𝗢𝗻𝗲-𝗧𝗶𝗺𝗲 𝗔𝗯𝗮𝘁𝗲𝗺𝗲𝗻𝘁 𝗼𝗳 𝗧𝗮𝘅𝗲𝘀 𝗮𝗻𝗱/𝗼𝗿 𝗣𝗲𝗻𝗮𝗹𝘁𝗶𝗲𝘀 under 𝗥𝗥 𝗡𝗼. 𝟬𝟬𝟰-𝟮𝟬𝟮𝟲 for 𝗠𝗶𝗰𝗿𝗼 𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿𝘀.

🔍 𝗞𝗲𝘆 𝗖𝗹𝗮𝗿𝗶𝗳𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀:

✅ Eligibility is based on the taxpayer's Micro Taxpayer classification in the BIR's IRIS-TRS as of December 31, 2025.

✅ Applications must be filed manually with the taxpayer's Revenue District Office (RDO) using BIR Form No. 2121.

✅ An abatement fee of ₱5,000 is required for each covered taxable year.

✅ The program may also cover certain pending compromise settlement applications, pending abatement applications, and qualified one-time tax transactions, subject to the conditions under RR No. 004-2026.

✅ The circular also clarifies the documentary requirements, filing procedures, payment process, and answers frequently asked questions to help taxpayers properly avail of the program.

💡 𝗪𝗵𝗼 𝘀𝗵𝗼𝘂𝗹𝗱 𝘁𝗮𝗸𝗲 𝗻𝗼𝘁𝗲?

If you are classified as a Micro Taxpayer with outstanding tax liabilities or penalties that may qualify under the program, it is worth reviewing whether you are eligible to avail of this one-time relief.

📩 Need help determining your eligibility or preparing your application?

LGM Accounting Services is here to guide you through the requirements and ensure compliance with the latest BIR regulations.

Here’s a quick guide we put together to help you understand how Graduated Income Tax works and what tax forms you need to keep track of. 📄📌

Need expert help filing your quarterly or annual tax returns? We’ve got your back! 🤝

Let us handle your finances while you focus on growing your business.

📲 Message us today to get started!

Another Day, another blessing. New client it is! Thank you for entrusting us with your finances.

Let us handle your finances while you focus on growing your business.

Another day, another blessing. Our valued client has opened a new branch — congratulations on your expansion!

New registration done. ✅

Another Day, another blessing (new client). Thank you for entrusting us with your finances.

New business registration done. ✅

Let us handle your finances while you focus on growing your business.

The Bureau of Internal Revenue has recently issued Revenue Memorandum Circular (RMC) No. 47-2026 prescribing the simplified and streamlined guidelines for the closure and cancellation of business registrations.

• The guidelines apply to all business taxpayers registered with the BIR who have permanently ceased business operations.
• This covers individuals, non-individuals, estates, trusts, and government entities across all business classifications (Micro, Small, Medium, or Large).
• Applications must be submitted to the Revenue District Office (RDO) where the business is registered.
• Taxpayers can file electronically through the BIR's official email, TRRA Portal, or ORUS, or they can file manually at the RDO.
• Certain documents, specifically unused invoices and original BIR permits, must be submitted manually.
• Authorized representatives must provide proper documentation, such as a Special Power of Attorney for individuals or a Board Resolution for non-individuals, along with valid IDs.
• Taxpayers must file all final or short-period tax returns up to the date of closure and pay the corresponding taxes.
• If there was no business activity, the taxpayer is required to file zero returns.
• Penalties for non-filing of returns will stop accruing once the complete documentary requirements are submitted.
• Taxpayers who cease operations without formally applying for closure will remain liable for all ongoing tax obligations and penalties.
• Micro taxpayers are not subject to a mandatory audit for the cancellation of their business registration.
• A Tax Clearance will be issued to qualifying micro taxpayers within three working days if they have no open cases or after they pay any outstanding liabilities.
• Taxpayers with gross sales exceeding P3,000,000.00, gross assets exceeding P8,000,000.00, or a pending Letter of Authority will only receive their clearance after their audit is formally terminated.

Source: BIR website

To All Taxpayers: SEC Extended Deadline

Securities and Exchange Commission announced the updated filing deadline for the 2025 Annual Financial Statements.

The deadline was extended from 29 May 2026 to 15 June 2026 in light with the recent extension of Bureau of Internal Revenue for the 2025 Annual Income Tax Return filing deadline.

Despite the extension, it is still highly encouraged to file as early as possible through the SEC eFAST tool to avoid unnecessary delays and penalties.

To: All Tax Payers

Annual Income Tax Returns (AITR) is hereby issued to extend the deadline for such filling, payments and submission from April 15, 2026 to May 15,2026.

No penalties and surcharges.

SEC Guidelines in 𝗲𝗙𝗔𝗦𝗧, 𝗲𝗦𝗘𝗖𝗨𝗥𝗘, 𝗮𝗻𝗱 𝗛𝗔𝗥𝗕𝗢𝗥.

To ensure a more unified, efficient, and secure experience, all eFAST users without an eSECURE account are encouraged to create one today and link it to their existing eFAST account for seamless access to SEC online services.

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