The CTA requires companies to file reports with the Financial Crimes Enforcement Network (“FinCEN”) and are essentially being investigated for a crime. FinCEN agents carry guns and are the "little brother" of the IRS with the same enforcement ability. Non-compliance carries a 2 year prison sentence.
Continue reading 2024 Corporate Transparency Act Demands Compliance from Small Businesses Or 2 Years in Prison at Need To Know.
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