Financial, Tax, and Family Office Services
The IRS has decided to forgive failure-to-pay penalties on most of the income tax returns for 2020 and 2021. As an example: You filed an extension for your 2020 return April 15, 2021, then filed and paid the balance due August 15, 2021. The balance due should have been paid April 15, but since you …
Stated purpose: to strip US shell companies of anonymity that can hide financial activity. Procedure: Registering Limited liability companies, corporations, partnerships, and other closely held entities with a government database. Process: Not yet defined, as the forms have not been finalized. Generally, the idea is good. Until CTA is in effect, someone can form a …
The Corporate Transparency Act, aka The Next Big Compliance Nightmare Read More »