Kimberly Park CPA, P.C.

11/08/2025

Paper checks are over 16 times more likely to be lost, stolen, altered, or delayed than electronic payments. By Transitioning into electronic tax refunds, the is helping taxpayers stay safe. See: https://ow.ly/KHvu50X1sAr

07/13/2025

Good news!!

Thanks to the One Big Beautiful Bill, there will be NO tax on tips. More money in the pockets of hardworking Americans.

03/04/2025

No BOI filing deadline or requirement currently. Stay tuned.

A news release says Treasury won’t enforce fines or penalties against U.S. citizens or domestic reporting companies or their beneficial owners. Treasury will also issue proposed rulemaking to limit beneficial ownership information reporting to foreign reporting companies only.

12/07/2024

Lots of folks have asked about the BOI reporting requirement and the Dec 31, 2024 deadline to report. A federal judge ordered last week that the filing requirement is unconstitutional and therefore FinCen is currently not requiring the filings while they sort out in court. The way the original filing requirement was written, it makes it almost impossible for CPAs to assist their clients on these filings without potentially being accused of practicing law so most CPAs including myself have steered clear of touching the reports except those for companies we personally have beneficial ownership.

I will post updates here as they are announced but the Dec 31, 2024 deadline is currently lifted until further notice.

09/15/2023

Yet another reminder from the IRS about the record level of fraud related to the ERC credit. So many were and continue to be scammed by MARKETERS who know little to nothing about taxes. But they love a juicy commission just like any scammer. Trust your CPA….they know how the calculations work and how to help you without demanding a commission to do so. Finally some people are going to jail for defrauding honest small businesses. Hopefully many more will have a similar fate.

To protect taxpayers from scams, has stopped new Employee Retention Credit processing amid surge of questionable claims.

Learn about the moratorium at: https://ow.ly/vNAh50PLN8U

06/02/2023

https://www.journalofaccountancy.com/news/2023/jun/a-pandemic-era-tax-break-remains-rife-with-abuse-erc.html

The IRS issues it’s 7th warning about Employee Retention Credit and the extreme level of fraud and error involved. Federal prosecutions have begun. Be careful who you trust friends. Marketers are out to make money and that’s ALL!!! Don’t be a victim of this scam. Seek TRUSTED professional advise before you sign (under penalties of federal perjury) any documents being sent to the IRS on your behalf. Sometimes when it sounds too good to be true, it is.

The IRS issues at least its seventh warning about the employee retention credit since October 2022.

05/11/2023

Texas Franchise tax returns are due Monday May 15. Save yourself the headache and file an extension or a report by Monday even if you had zero activity in your LLC and/or you just created it in December. You still have a reporting requirement deadline and it will cost you $50 to the Comptroller just for non-filing or late filing penalty. Easy peezy to do online at Comptollers website with your XT assigned number. Do IT!!! And you’re welcome!

05/08/2023

Things are shaping up for the 2023 Tyler Tennis Championships!!
Check out our tournament page with tickets, hospitality events, and volunteer opportunities!
https://www.tylerprochallenge.com/tyler-tennis-championships

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