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What Small Businesses Need to Know About the Corporate Transparency Act

Corporate Transparency Act (CTA) and the proposed rules by the federal Financial Crimes Enforcement Network (FinCen) pose significant risks to small businesses, their founders and owners, and potentially associated professionals. The CTA was the culmination of a multi-year effort by Congress, the Department of Treasury (Treasury), other national security agencies, law enforcement, and other stakeholders to bolster the US corporate transparency framework.

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