Our Hearts and Prayers Go Out to All Affected by The Recent Wildfires in Southern California. Tax Relief, Extensions to Individuals and Businesses in part of California Affected by Wildfires that Began on January 7,…

A federal district court in Texas issued a nationwide preliminary injunction against enforcing the beneficial ownership reporting requirements mandated by the Corporate Transparency Act (CTA). (Texas Top Cop Shop v. Garland (December 3, 2024) U.S. Dist.…

Led by James Chung, CPA, Partner, and a tax specialist with extensive experience, CHLK is excited to announce the opening of our new office in La Mirada. This expansion allows us to provide even more…

Starting in 2024, newly formed corporations, limited liability companies (LLCs), limited partnerships, and other entities that file formation papers with a state’s Secretary of State office must file a report with the U.S. Treasury Department’s…

2024 MWO Poster in English | 2024 MWO Poster in Spanish | 2024 MWO Poster in Korean POST IN A CONSPICUOUS PLACE AT ANY WORKPLACE OR JOB SITE. VIOLATORS SHALL BE SUBJECT TO PENALTIES. (To Print out the poster,…

Dear Client, The IRS and FTB have put out numerous press releases related to the automatic filing extension due to the California storms. Here is the summary. Affected taxpayers Any taxpayer who resides in, or…

IRS grants filing extensions to California storm victims The IRS is granting extensions to California storm victims until May 15, 2023, for the following filing and payment deadlines that were normally scheduled for on or…

Dear Client, Please find our 2023 Firm Letters regarding Payroll and Form 1099 (English and Korean versions are attached). An update regarding new employment laws in California for 2023 has also been attached. Please review and contact our office…

AB 1041 – Expansion of list of people an employee can take time off to care for Currently, under the California Family Rights Acts (CFRA), California employers with 5 or more employees must not refuse…

1.    CalSavers(AB 102): Employers with five or more employees must participate in CalSavers if they do not already have a workplace retirement plan by 6/30/22.  Employers must complete adding employee information and submit employee contributions by 7/31/22.…