Corporate Transparency Act Update: U.S. Companies Exempt from Penalties
Written By Alysha Webb One could be forgiven for feeling a bit of whiplash where the Corporate Transparency Act enforcement is concerned. On March 2, the Treasury Department announced it would not be enforcing any penalties or fines against U.S. citizens or domestic reporting companies for noncompliance with Beneficial Ownership Information (BOI) reporting obligations under […]
No Fines, No Penalties: FinCEN Delays BOI Filing Enforcement
The Corporate Transparency Act (CTA) saga continues! Just weeks after reinstating the BOI reporting requirements, FinCEN announced on Feb. 27th a pause on enforcement. Businesses that have not yet filed can breathe a sigh of relief—no fines, penalties, or enforcement actions will be issued for failing to meet the current deadlines. What This Means for […]
CTA Filing is Back: New Deadline Set for March 21, 2025
Written by Ken Rosenfield, CPA Just when we thought it was over! The filing requirements for the Corporate Transparency Act have been reinstated—again! The act was reinstated on February 15, 2025, and there is a shortened deadline to submit reports: March 21, 2025. Reports can be filed using the following link: 🔗 https://boiefiling.fincen.gov/ Dealer and Related […]
CTA Filing Rules Reversed Again: The Latest Developments
Written by Ken Rosenfield, CPA The month of December has been a whirlwind for businesses grappling with the ever-changing status of the Corporate Transparency Act (CTA). Enacted on January 1, 2024, the CTA was designed to combat money laundering, corruption, tax fraud, and terrorist financing by requiring businesses to file Beneficial Ownership Information (BOI) with […]