INDIVIDUAL INCOME TAX PREPARATION:

• “Personal Income tax return done with zero stress”
• “Our team at Arcitax Services has extensive experience in personal tax and Business preparation, and with over 15 years of experience, we strive to provide you with a relaxed and private environment with minimal errors when filing your tax return.”

OUR FEES:

• A tax return can range from simple to complex, or even “dramatic” depending on the income forms, deductions, and credits that the taxpayer reports in an individual tax return. Our fees are variable and based on the forms needed for your tax return.

Our services include:

• In-person interview, please call for an appointment.
• Drop-off or pick-up documents, no appointment needed.
• Virtual Meeting – download documents, call or email for Virtual appointment instructions.
• If you need more time to file a tax return, please call us to get you an extension before April 15th of the calendar year to avoid penalties.

What is an ITIN?

• The Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service. The IRS issues ITINs to individuals who are required to have a taxpayer identification number for U.S. tax purposes but who do not have, and are not eligible to obtain, a Social Security Number (SSN) from the Social Security Administration (SSA).

What is an ITIN used for?

• The IRS issues ITINs to help individuals comply with U.S. tax laws and to provide a means for those who do not qualify for an SSN to file and pay taxes. ITINs are issued regardless of immigration status, as both resident and nonresident aliens may be required to file a U.S. tax return or information return under the Internal Revenue Code. ITINs are only used for federal tax filing purposes.

An ITIN does NOT:

• Authorize work in the United States
• Provide eligibility for Social Security benefits
• Qualify a dependent for the Earned Income Tax Credit

When should I apply?

• You can apply for an ITIN at any time during the year if you are required to file a tax return or information return. At a minimum, you should complete Form W-7 when ready to file your federal income tax return by the prescribed due date. If the tax return attached to your Form W-7 is filed after the due date, you may owe interest and/or penalties.

How long does it take?

• You will typically receive an IRS letter assigning your tax identification number within seven weeks if you qualify for an ITIN and your application is complete.

Documents required to apply for an ITIN:

• Original and valid passport
• Proof of U.S. domicile
• Current tax return

For Spouse:

• Same documents as above, and must be included in your tax return.

For Dependents:

• Must be included in your tax return. For dependents under 14 years old, the following are required:
• Original birth certificate or valid passport
• School transcripts signed and stamped by the Principal or school official
• Doctor or clinic letters signed and stamped by the clinic.
• Visit the page: https://www.irs.gov/es/individuals/individual-taxpayer-identification-number for more information.

We handle the complexities of business tax codes, ensure accurate and efficient tax filing allowing you to concentrate on your business success with minimized tax liabilities and peace of mind.

Our expertise in tax preparation includes the following tax forms:

• Sole Proprietors and LLC companies that use Form 1040.
• S-Corporations (1120-S)
• Partnership companies (1065)
• Regular C-Corporations (1120)

Deadlines:

• Depending on the tax form used in your business tax preparation, there is a deadline you need to know. If you need more time to file a tax return, an extension for six more months needs to be filed before the deadline.

Did you receive a letter from the IRS or State regarding a tax issue? Tax problems can arise from any government office, and if mishandled or ignored, these letters can turn into major penalties and fines down the line. Let us review and assess the situation to guide you with the proper steps to fix the problem and ensure that you are not overpaying taxes, penalties, or interest.

Business Entities:

• When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you must file. The most common forms of business are:
  • Sole proprietorships
  • Partnerships
  • Corporations
  • S corporations
  • Limited Liability Company (LLC)

Next Steps:

• After deciding the type of business entity, give us a call for an appointment to help you apply for the license, permits, and additional paperwork your new entity might need to start the business.

ADDITIONAL BUSINESS RESOURCES (Link a Tax Resources page)

IRS New Business Information: https://www.irs.gov/businesses

Information about incorporating a business with the IL Secretary of State: https://www.ilsos.gov/publications/pdf_publications/c340.pdf

Information about establishing an LLC with the IL Secretary of State: https://www.ilsos.gov/publications/pdf_publications/c334.pdf

Meaningful, well-organized financial records ensure that your business operations will run more efficiently daily and are the foundation of a successful business. As your business needs grow and change, we can provide input to ensure your accounting and financial systems keep pace with your business needs. Our staff can assist you with the day-to-day tasks associated with bookkeeping and payroll services.

When it comes to notarizing your business and personal documents, Leticia Arciniega can get the job done. If you’re looking for notary public services in Libertyville, come to our office. Stop by today and get your documents notarized.

Commonly Notarized Documents:

• Contracts
• Minor Child travel letter
• Birth Certificates translation to English or Spanish
• Affidavits