The Corporate Transparency Act: A Burden and Opportunity for Main Street

The Corporate Transparency Act: A Burden and Opportunity for Main Street

For the millions of small businesses fueling America’s economic engine, a tidal wave of red tape is headed their way. The Corporate Transparency Act, set to take effect in January 2024, mandates that even tiny mom-and-pop shops disclose their beneficial ownership details to FinCEN or face penalties as high as $10,000. On paper, it’s a…

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