Podcast – BPB Knows the Corporate Transparency Act
Posted on October 17, 2024
In this episode Associate Director of Tax Services Joel Young, JD, LLM, explains the requirements and timeline for Corporate Transparency Act reporting.
In this episode Associate Director of Tax Services Joel Young, JD, LLM, explains the requirements and timeline for Corporate Transparency Act reporting.
The Corporate Transparency Act (CTA)introduced a new requirement for existing corporations, LLCs, and some partnerships and business trusts to file by January 1, 2025, beneficial ownership information reports (BOIR) disclosing the identities of the individuals behind those entities. For companies established after January 1, 2024, an initial BOIR must be filed within 90 days of […]
In this episode Associate Director of Tax Services Joel Young shares the background of the Corporate Transparency Act and who business owners will need to report.
In late 2022, the U.S. Treasury issued final requirements that certain corporations, LLCs, partnerships, business trusts and similar entities will need to begin reporting under the Corporate Transparency Act (CTA). While the CTA aims to bolster the country’s anti-money laundering policies and unmask the identities of the true owners behind shell companies and other opaque […]