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Corporate Transparency Act
September 24, 2024 @ 1:00 pm – 2:00 pm EDT
Event Overview
If your company is an entity formed under state law, such as an LLC, LLP, corporation, etc., you could be affected by the Corporate Transparency Act (CTA). In an effort to counter certain illicit activities, this act mandates new federal beneficial ownership disclosures for certain companies.
Starting January 1, 2024, companies considered to be “reporting companies” will be required to file reports with the Financial Crimes Enforcement Network (FinCEN) to identify the company’s beneficial owners. There are numerous exemptions to the act that could mean your company is not affected. However, it is important to ensure proper knowledge of the CTA as accounting firms and other tax return preparers are generally not responsible for any client FinCEN filings, and failure to comply may result in financial and possible criminal penalties.
Join us as we discuss the latest developments, including new governmental guidance and lawsuits challenging the constitutionality of the CTA.
