Time is Running Out for Compliance with the Registration Requirements of the New Corporate Transparency Act
The Corporate Transparency Act being administered by the U.S. Department of the Treasury became effective on January 1, 2024. Certain businesses throughout the United States will need to comply with various reporting requirements or will face substantial financial penalties, including civil penalties of up to $500 per day, for noncompliance.
You can read more about the CTA by clicking here.
Disclaimer: This article does not offer specific legal advice, nor does it create an attorney-client relationship. You should not reach any legal conclusions based on the information contained in this article without first seeking the advice of counsel.
About the Authors
Brian W. Bisignani is a Principal and Chair of the Firm's Bankruptcy & Creditors' Rights Group. His practice encompasses the areas of business reorganizations and financial restructurings, commercial bankruptcy law and litigation, commercial loan restructurings, and corporate and business law.
James R. Malone, Jr. is a Principal in the Firm’s Tax Controversy Practice, representing clients in disputes with federal, state and local tax authorities in both administrative proceedings and in court. His clients include businesses, non-profits, individual taxpayers, accountants, and tax preparers.