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The Corporate Transparency Act (CTA) was enacted by the federal government in 2021 to strengthen federal money laundering and tax fraud statutes by improving transparency in business ownership. The CTA is enforced by the Financial Crimes Enforcement Network (FinCEN). FinCEN requires reporting companies to file with the Department of Treasury a Beneficial Ownership Information Report (BOIR). This filing needs to be completed by January 1, 2025. Any entity created in […]
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