If you're a small business owner or a CPA, you've probably heard the landscape of compliance is changing quickly with the implementation of the Corporate Transparency Act (CTA). This new regulation requires businesses to disclose Beneficial Ownership Information (BOI), impacting over 32 million entities across the country. Compliance isn't just about filling out paperwork - it's about understanding the new standards, managing ongoing reporting, and avoiding costly penalties.
Our recent article, published in Current Accounts (September/October 2024 issue), dives into everything you need to know about BOI reporting. We cover key requirements under the CTA, potential compliance challenges, and how CPAs can effectively guide their clients through these updates, even within the limitations of AICPA guidelines.
Want to read the full article? Head over to our LinkedIn page to get all the details! Click here to read the article and learn how these regulations could affect your business or your clients.
And remember, BOI Filers is here to help businesses navigate the complexities of BOI reporting, so you can focus on what you do best. Visit our services page for more details on how we can support you through these regulatory changes.
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