Corporate Transparency Act Updates - What You NEED to Know

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Timecodes
0:00 Video Overview
0:33 Tailor Brands
1:50 New Anti-Money Laundering Law
3:02 You're Required to Act Now
4:46 Filing the BOI Report
5:21 FinCEN Financial Scam Attempts
6:07 How to Avoid Being Scammed
6:50 Consequences of Not Complying

Business owners, the Corporate Transparency Act is now in full effect. That means that it is time to start complying with this new law or face the consequences. The Corporate Transparency Act is an anti-money laundering law that is designed to prevent financial crime by increasing corporate ownership transparency in America.

In this video, tax expert Karlton Dennis provides an update on the Corporate Transparency Act and explains several new changes that have occurred for this law. These changes are primarily related to filing dates. However, there are a number of other developments that you don’t want to miss.

If you own a business that is required to provide a “beneficial ownership information” or “BOI” report to FinCEN in order to comply with the CTA, then this is the perfect video for you to watch. Karlton Dennis explains exactly how to file these reports with FinCEN, including the three different options for doing so, and other key information you need to know.

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

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