Say goodbye to privacy.
Say hello to new reporting requirements.
Read the full article:
“Congress Passes Corporate Transparency Act:
What It Means for You”
Are you running an LLC or a corporation?
Then be prepared for an important change in the law…
Starting in 2022, the new Corporate Transparency Act (CTA) goes into effect…
For the first time, federal law will require you to provide personal information to the U.S. Department of the Treasury.
In other words…
- The pro-secrecy era is coming to an end.
- Corporations and LLCs will be subject to new federal requirements that can be used by the Treasury’s financial intelligence unit!
Why did the new CTA get passed into law?
It was intended to stop making it easy for people to form anonymous shell LLCs and corporations for nefarious purposes. Purposes such as money laundering and various forms of tax evasion.
Yes. The purpose of the new law is laudable, but we can all cry over the loss of our privacy.
To get the details of the new CTA, and find out what you have to do to comply with the law, here’s an important step you should take…
Read the full article:
“Congress Passes Corporate Transparency Act:
What It Means for You”