In an article published by Accounting Today, Brooks Pierce attorneys Mark Davidson and Melissa Bailey examine the Corporate Transparency Act (CTA) and what advisors should consider to prepare businesses owners to comply with significant new reporting and related record-keeping obligations going into effect on Jan. 1, 2024.
“The Treasury has issued final regulations implementing the CTA effective Jan. 1, 2024. Business entities subject to the CTA will face significant new reporting and related record-keeping obligations. There are several things advisors should consider to prepare their business owner clients to comply,” noted Davidson and Bailey.
The complete article can be accessed here.