The Latest on the Corporate Transparency Act

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Jeffrey Mosher welcomed Robert Hamor to the Michigan Business Network's Michigan Business Beat to discuss the latest on the upcoming Corporate Transparency Act.

Their conversation covered several topics:

1. What is the Corporate Transparency Act?
2. What companies are required to report under it?
3. What information needs to be reported?
4. What happens if a company does not comply?
5. How does a company get help in determining their reporting obligations?

Passed by Congress on January 1, 2021, and set to take effect on January 1, 2024, the Corporate Transparency Act (CTA) is set to dramatically change reporting requirements for many small and medium-sized businesses.