Corporate Transparency Act

Understanding the Corporate Transparency Act: Implications for Businesses and Compliance

Overview The Corporate Transparency Act (CTA) takes effect on January 1, 2024, introducing significant reporting requirements for many privately held entities, known as Reporting Companies. The CTA aims to enhance transparency to combat tax fraud, money laundering, and other illegal activities. Reporting Companies must submit ownership information to the Financial Crimes Enforcement Network (FinCEN), a […]

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