Steven E. Miller, CPA PC

IMPORTANT NEW FILING REQUIREMENT FOR
ALL BUSINESS OWNERS

Have you heard or read about the Corporate Transparency Act? ​
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​This new filing requirement aims to combat money laundering and related “bad acts.” In the meantime, you, as a business owner now, must take on a new reporting process. It applies to ALL corporations, LLCs, LLLPs, partnerships, and even business trusts. ​
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​Some entities may only need to file once to claim an exclusion. Many small businesses will be required to file annually. The effective date is January 1, 2024, so you have some time to plan.​
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These reports will be filed with FINCEN – the Financial Crimes Enforcement Network, a United States Treasury department. The penalties for failure to comply are substantial. Do Not Ignore This!​
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Want to learn more? ​
​I recommend the following video from John Strohmeyer. He is an attorney we work with on various clients. I believe you will find the 45-minute video informative and valuable. https://www.youtube.com/watch?v=jVh1rhO-Ge4
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Steven E. Miller
Certified Public Accountant

What You Need to Know About the Corporate Transparency Act (CTA) Do you own or advise a corporation, limited liability company (LLC), limited partnership, limited liability partnership, limited liability limited partnershi...