{"id":3905,"date":"2024-09-23T21:33:00","date_gmt":"2024-09-23T21:33:00","guid":{"rendered":"https:\/\/barlensogt.barlen.com\/?p=3905"},"modified":"2026-07-20T23:44:48","modified_gmt":"2026-07-20T23:44:48","slug":"the-corporate-transparency-act-why-you-need-to-know-now","status":"publish","type":"post","link":"https:\/\/barlensogat.tempserver4.org\/?p=3905","title":{"rendered":"The Corporate Transparency Act: Why You Need to Know \u2014 Now"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>The Corporate Transparency Act: Why You Need to Know \u2014 Now<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The latest effort of Congress to combat terrorism, money laundering and other nefarious activities like tax fraud and corruption resulted in the enactment of the Corporate Transparency Act (CTA), which became effective Jan. 1, 2024. The CTA requires detailed reporting and updating of personal information by reporting companies, beneficial owners and company applicants into an online federal data bank that will be overseen and enforced by the Department of Treasury\u2019s Financial Crimes Enforcement Network or FinCEN . From the beginning, the CTA has been controversial. Businesses, owners, lawyers, accountants and employees will all feel the impact of its reporting requirements. Noncompliance will result in the imposition of substantial, costly penalties and the risk of incarceration.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Given the severity of penalties, all attorneys should become acquainted with the requirements of the CTA and raise awareness of the filing requirements with their clients.<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/barlensogat.tempserver4.org\/wp-content\/uploads\/2026\/07\/PALawyer2024Sept-OctCorporateTransparencyAct.pdf\">Click here<\/a>\u00a0<\/strong>to read more of Attorney, Phyllis Horn Epstein\u2019s article in the<br>September\/October 2024 issue of\u00a0<em><strong>The Practical Lawyer Magazine<\/strong><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Corporate Transparency Act: Why You Need to Know \u2014 Now The latest effort of Congress to combat terrorism, money laundering and other nefarious activities like tax fraud and corruption resulted in the enactment of the Corporate Transparency Act (CTA), which became effective Jan. 1, 2024. The CTA requires detailed reporting and updating of personal [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":8992,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-3905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alerts"],"acf":[],"_links":{"self":[{"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=\/wp\/v2\/posts\/3905","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3905"}],"version-history":[{"count":7,"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=\/wp\/v2\/posts\/3905\/revisions"}],"predecessor-version":[{"id":9275,"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=\/wp\/v2\/posts\/3905\/revisions\/9275"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=\/wp\/v2\/media\/8992"}],"wp:attachment":[{"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3905"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3905"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/barlensogat.tempserver4.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3905"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}