The Corporate Transparency Act

[goldstar]

One of my colleagues hit me with this at a recent contractors' meeting and I'm a bit concerned. If any of you are familiar with the Corporate Transparency Act and what the requirements are for small businesses would you please post your suggestions here ? I've attached a flyer from AICPA & CIMA. I'm not sure whe the Fed if attempting to accomplish with this but the fines are excessive !

Thanks in advance.

 

[zbang]

Looks like a lot of "whatever", the must-report info is pretty basic for anyone doing business with the Feds. Why? Fraud prevention, of course.

As to whether the fines are excessive, since the reporting looks rather simple, it'll be cheaper and easier to comply .

 

[ramsy]

Fraud prevention, of course.

The Government flyer wants proof of company ID.

Fraudsters creating shell companies became an art form, which scammed a large percentage of government pandemic relief.

Wasn't it recently reported that billions in US pandemic money + Covid test kits went to Vladimir Putin?

 

[hillbilly1]

I believe it is for if you are a LLC, which a lot of fraudulent ones are created to hide the true owners.

 

[petersonra]

The Government flyer wants proof of company ID.

Fraudsters creating shell companies became an art form, which scammed a large percentage of government pandemic relief.

Wasn't it recently reported that billions in US pandemic money + Covid test kits went to Vladimir Putin?

Putin reportedly stole around $200 billion from the state coffers of Russia. Maybe they ran out of money for him to steal and he had to start stealing from someone else.

Depending on who and what you believe Elon may make trillionaire status sometime in the 2027 to 2030 timeframe. And he didn't steal to get where he is at.

 

[ramsy]

Elon may make trillionaire status

Elon is already his own government, he just needs to plant his flag on Mars.

 

[petersonra]

Elon is already his own government, he just needs to plant his flag on Mars.

He could declare himself emperor of Mars.

 

[ramsy]

He could declare himself emperor of Mars.

And make NASA pay for it.

 

[hbiss]

One of my colleagues hit me with this at a recent contractors' meeting and I'm a bit concerned. If any of you are familiar with the Corporate Transparency Act and what the requirements are for small businesses would you please post your suggestions here ? I've attached a flyer from AICPA & CIMA. I'm not sure whe the Fed if attempting to accomplish with this but the fines are excessive !

Thanks in advance.

Restaurant Depot, who I buy from occasionally sent that out to all their customers a month ago. I can imagine there are a lot of bodega owners who are saying s**** you!

-Hal

 

[qcroanoke]

Wasn't it recently reported that billions in US pandemic money + Covid test kits went to Vladimir Putin?

it was reported that a former president sent Putin his very own covid test machine.

 

[petersonra]

it was reported that a former president sent Putin his very own covid test machine.

We sent several hundred of them around the world to various places during the panic. I would not be surprised if Russia got one or more.