Nicole Middendorf’s Post

Corporate Transparency Act or CTA is a new law. Have you heard of this new rule? If you are a business owner you need to file before the year is over. This is a new federal law that was enacted in 2021 to help prevent and combat financial crimes and other misconduct. The CTA requires many companies that do business in the United States to disclose information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN), a bureau of the United States Treasury. You will want to talk to your business attorney to make sure you are in compliance. You can simply go online and file for yourself. The most important thing is that you file. Go do it. You got this. #cta #corporatetransparencyact #wealthadvisor

Important Update: Corporate Transparency Act Enforcement Halted Nationwide A federal judge in Texas has issued a nationwide injunction against the enforcement of the Corporate Transparency Act (CTA), deeming it likely unconstitutional. The CTA required businesses to report beneficial ownership information to the U.S. Treasury's Financial Crimes Enforcement Network (FinCEN). This ruling halts the implementation of these reporting requirements, which were set to take effect on January 1, 2024. Business owners should stay informed as this legal development unfolds, as it may impact compliance obligations. #CorporateTransparencyAct #FinCEN #BusinessCompliance #LegalUpdate

The Corporate Transparency Act (CTA) took effect on January 1, 2024, adding another layer of compliance for most businesses. While there are notable exemptions to the CTA, most companies must file certain information on their “beneficial owners” with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). It is important for business owners to understand their obligations under the CTA since the potential penalties for noncompliance are severe. FLB Law Partner Rick Costantini highlights a few things every business should know about their reporting obligation. #FLBLaw #corporatelaw #CorporateTransparency

The Corporate Transparency Act (CTA) took effect on January 1, 2024, adding another layer of compliance for most businesses. While there are notable exemptions to the CTA, most companies must file certain information on their “beneficial owners” with the U.S. Department of Treasury’s Financial Crimes Enforcement Network (FinCEN). It is important for business owners to understand their obligations under the CTA since the potential penalties for noncompliance are severe. FLB Law Partner Rick Costantini highlights a few things every business should know about their reporting obligation. #FLBLaw #corporatelaw #CorporateTransparency

Under the Corporate Transparency Act, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) requires small business owners to report certain information. The requirements are intended to help prevent criminals from using businesses for illicit activities. They mandate businesses to provide beneficial ownership information (BOI) about their owners to FinCEN. The deadline to file a BOI report was Jan. 1, 2025. However, a federal court struck down the law, finding its reporting regs likely unconstitutional. The court issued a nationwide preliminary injunction that temporarily halts the requirements. Further rulings may reverse this decision. Contact us about how to proceed. For more information about the case: https://bit.ly/3Vyspjl #CorporateTransparencyAct #CTAUpdate #BOIReporting #FinCEN #SmallBusinessCompliance #TaxLaw #IRSNews #BeneficialOwnership #TaxUpdates #ComplianceMatters #BusinessLaw

Attention Small Business Owners: The enactment of the Corporate Transparency Act (CTA) marks a significant shift in the regulatory landscape for businesses across the United States. This pivotal piece of legislation, primarily aimed at combating financial deception such as money laundering and tax evasion, requires a clear disclosure of beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). Understanding and adhering to these rules is crucial, as noncompliance could lead to substantial penalties. Read more here from the McKee, Voorhees & Sease, PLC Filewrapper post by Cassie Edgar: https://bit.ly/3vaP9Mi #ipmvs #intellectualpropertylaw #regulatorylaw #regulatoryupdates

Under the Corporate Transparency Act, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) requires small business owners to report certain information. The requirements are intended to help prevent criminals from using businesses for illicit activities. They mandate businesses to provide beneficial ownership information (BOI) about their owners to FinCEN. The deadline to file a BOI report was Jan. 1, 2025. However, a federal court struck down the law, finding its reporting regs likely unconstitutional. The court issued a nationwide preliminary injunction that temporarily halts the requirements. Further rulings may reverse this decision. Contact us about how to proceed. For more information about the case: https://bit.ly/3Vyspjl #CorporateTransparencyAct #CTAUpdate #BOIReporting #FinCEN #SmallBusinessCompliance #TaxLaw #IRSNews #BeneficialOwnership #TaxUpdates #ComplianceMatters #BusinessLaw

Under the Corporate Transparency Act, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) requires small business owners to report certain information. The requirements are intended to help prevent criminals from using businesses for illicit activities. They mandate businesses to provide beneficial ownership information (BOI) about their owners to FinCEN. The deadline to file a BOI report was Jan. 1, 2025. However, a federal court struck down the law, finding its reporting regs likely unconstitutional. The court issued a nationwide preliminary injunction that temporarily halts the requirements. Further rulings may reverse this decision. Contact us about how to proceed. For more information about the case: https://bit.ly/3Vyspjl #CorporateTransparencyAct #CTAUpdate #BOIReporting #FinCEN #SmallBusinessCompliance #TaxLaw #IRSNews #BeneficialOwnership #TaxUpdates #ComplianceMatters #BusinessLaw

🚨 What is the Corporate Transparency Act (CTA)? 🚨 The CTA is a new law requiring most U.S. businesses to disclose their beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). This is a big deal for business owners—stay tuned as we break down what this means for you! 👀 Visit our website if you have questions. CTA-Law.com #CorporateTransparencyAct #BusinessCompliance

Starting in 2024 the Corporate Transparency Act starting requires businesses to share information about their real owners with the Financial Crimes Enforcement Network. This is a big deal for anyone involved in family businesses or estate planning. The law aims to increase transparency and fight financial crimes, but it also affects how ownership structures might be set up and managed. If you’re planning for the future, it’s important to understand these changes to make sure your family’s assets stay protected and compliant. #EstatePlanning #CorporateTransparency #CTA #FamilyBusiness