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A registered agent is a designated person or entity authorized to receive legal and official documents on behalf of a company or LLC, and can be referred to as "Resident Agent", "Statutory Agent", commercial or noncommercial clerk, [5] [6] or by the Federal Motor Carrier Safety Administration (FMCSA), a "process agent". [7]
The IRS uses the information entered on the form to establish the entity's filing and reporting requirements for federal tax purposes. [3] Certain domestic and foreign entities that were in existence before January 1, 1997, and have an established federal tax classification generally do not need to make an election to continue that classification.
A federal agent (also known as a special agent, federal police officer, or federal operative) is an employee of an agency or branch of the federal government, typically one responsible for investigating organized crime and terrorism, handling matters of domestic or national security, and who practices espionage, such as the FBI, CIA, NSA, or MI5.
This publication establishes the rules governing those who practice before the U.S. Internal Revenue Service (IRS), including attorneys, certified public accountants (CPAs) and enrolled agents (EAs). The rules in Circular 230 also prohibit certain conduct. Penalties may be imposed for noncompliance.
The default tax status for LLCs with multiple members is as a partnership, which is required to report income and loss on IRS Form 1065. Under partnership tax treatment, each member of the LLC, as is the case for all partners of a partnership, annually receives a Form K-1 reporting the member's distributive share of the LLC's income or loss ...
Small business owners should not forget about a rule — currently in legal limbo — that would require them to register with an agency called the Financial Crimes Enforcement Network, or FinCEN ...
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Heads up to anyone who is a freelancer, independent contractor, business owner, property renter or just a hobbyist who occasionally sells their creations: If you accept business-related income ...