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Podcast: NJCPA IssuesWatch Podcast
Episode: 184: New Reporting Requirement May Take Businesses By Surprise
Description: The Corporate Transparency Act was enacted to help combat money laundering, terrorist funding, tax fraud and other financial crimes. What many people don’t realize is that the Act includes a reporting requirement for most businesses — and there is a hefty non-compliance penalty. Ed Zollars, CPA, discusses the reporting requirements, which businesses are required to report, when they must file the report and the role that CPAs should play. Resources:FinCEN Beneficial Ownership Information Reporting websiteBeneficial Ownership Reporting – Key QuestionsBeneficial Ownership Information Report Filing DatesCurrent Federal Tax Developments blogFollow Ed on Twitter @edzollarsNJCPA Conven...