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Due Diligence Internal Revenue Service Reporting Requirements

Seyfarth Shaw LLP

How to Prepare for the Corporate Transparency Act of 2020

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Seyfarth Synopsis: As you may know, the Corporate Transparency Act (“CTA”) is set to take effect on January 1, 2024 (“Effective Date”), impacting many privately held corporations, limited partnerships, statutory trusts,...more

Downs Rachlin Martin PLLC

Corporate Transparency Act Imposes New Federal Reporting Requirement On Businesses

Background - In January 2021, the United States Congress passed the Corporate Transparency Act (CTA) as part of the Anti-Money Laundering Act of 2020. This law, while intended to prevent criminal actors from hiding and...more

Ballard Spahr LLP

FinCEN Finalizes Beneficial Ownership Identification Rules

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As part of the U.S. Treasury Department's ongoing efforts to prevent bad actors from using U.S. companies to conceal money laundering, tax evasion, and other illicit financial activities, the Financial Crimes Enforcement...more

Foley Hoag LLP

FATCA: IRS Extends Transitional Rules

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On September 18, 2015, the IRS announced its intention to amend the U.S. FATCA regulations to extend the effectiveness of certain transitional rules, including...more

Goodwin

IRS Notice 2014-33 – IRS Grants Relief for Good-Faith Efforts Under FATCA

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On May 2, 2014, the Internal Revenue Service (“IRS”) issued Notice 2014-33 (the “Notice”) providing that calendar years 2014 and 2015 will be regarded as a transition period for purposes of IRS enforcement and administration...more

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