Attacking Small Business - The Corporate Transparency Act - Robert Smith
About this episode
Robert Smith discusses the implications of the Corporate Transparency Act for small businesses and what actions they need to take to comply.
Robert Smith, CEO of SWORD, warns us and informs us about what we know about Congress passing of The Corporate Transparency Act and what small businesses must do to fight it. Listen in to hear what you can do and what you must do. Required Compliance with the Corporate Transparency Act is Near We are less than 2 months from the January 1, 2025 date of required compliance with the Corporate Transparency Act (“CTA”) for corporate entities created prior to January 1, 2024. (If required to make disclosures under the CTA, Entities created in 2024 are required to make their disclosure within 90 days of formation.) The penalties for failing to comply with CTA beneficial ownership reporting can be significant. The law provides that any person that willfully fails to comply or willfully provides false information may be subject to civil penalties of up to $500 per day and criminal penalties of up to $10,000 and two years in prison. Contact Robert Smith at WWW.SWORDUSA.ORG About Robert in his own words: Over the past 11 months, I have developed a plan to inform, educate and warrior against the CTA, Corporate Transparency Act, a potential legislation that will greatly harm and/or eliminate…
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