Additional services
Enhanced accounting and tax services for individuals and enterprises in the United States
In addition to the timely submission of tax returns, the operation of a business in the United States necessitates the resolution of a multitude of additional financial and legal matters. Fines and complications with the IRS may result from errors in reporting, tardiness in payments, or the failure to implement an appropriate strategy.
ILLION provides a comprehensive array of supplementary services that will facilitate the efficient operation of your business, mitigate tax risks, and guarantee adherence to the law.
What are the supplementary services that we offer?
- Acquiring an Individual Taxpayer Identification Number (ITIN)
📌 Who requires it?
- Individuals from abroad who are obligated to pay taxes in the United States but lack an SSN.
- This also applies to business owners based in the United States.
- To those who desire to submit a tax return without providing their Social Security number.
📌 What does the service include?
✔ The preparation and submission of Form W-7.
✔ Consultations on IRS requirements.
✔ Support in obtaining an ITIN number.
- 1099 Form Preparation
📌 Who requires it?
- Businesses offer remuneration to freelancers or contractors.
- Business proprietors employ independent contractors.
What does the service include?
✔ Completing and submitting forms 1099-NEC and 1099-MISC.
✔ Advice regarding reporting and deadlines.
✔ Support for the automation of processes.
3.Submission and preparation of the FBAR (Foreign Bank Account Report)
📌 Who requires it?
- Those who own foreign bank accounts with a balance of $10,000 or more are the ones in need of it.
- This applies to proprietors of organizations conducting business outside of the United States.
What does the service include?
✔ Consultation regarding claims and penalties for non-payment.
✔ Preparation and submission of FinCEN Form 114.
✔ Complete assistance during the application procedure.
4.Request for IRS tax transcripts
📌 Who requires them?
- They are necessary for individuals seeking verification of their tax history.
- To those who have misplaced copies of declarations that were previously submitted.
📌 What does the service encompass?
✔ Acquiring copies of tax reports.
✔ Request transcripts for forms 1040, 1120, 1065, and other tax documents.
✔ Guidance regarding IRS disputes.
5.Tax Return Correction (Amended Tax Returns)
📌 Who Needs It?
- Individuals who have identified errors in submitted declarations.
- This service is for organizations requiring modifications to tax forms.
What does the service cover?
✔ Error analysis and identification.
✔ Completing and submitting Form 1040-X or 1120-X.
✔ Consultation and assistance regarding the corrections that have been implemented.
What is the reason for selecting ILLION?
✔ Experience—a team of tax specialists with a history of operating in the United States.
✔ Security—complete adherence to the regulations of the IRS and financial regulators.
✔ Transparent pricing—fixed service costs without any concealed fees.
✔ Customized solutions for both enterprises and individuals—individual approach.
✔ Our services are accessible to clients worldwide through the internet.
Please submit an application for supplementary tax and accounting services. Professionally manage finances, avoid penalties, and optimize taxes.
ILLION is your dependable partner in tax matters.
FAQ
You provide your TIN (SSN or EIN) to the client using the W-9 form. It is usually required for contract work. We use the information to prepare Form 1099 and report to the IRS.
An S-Corp is beneficial with stable profits to reduce self-employment taxes. You need to file Form 2553 within 75 days from the start of the tax year. This form allows you to pay yourself a salary and distribute the remaining profit without double taxation.
If you have an S-Corp or C-Corp, the IRS requires you to pay yourself a salary as an employee. The salary must be “reasonable compensation” with tax withholding. Such a payment is mandatory and allows for the correct distribution of profits, avoiding fines and additional charges.