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Many business owners have found themselves on the receiving end of a seemingly official document: Form 4022. This form demands completion of Mandatory Beneficial Ownership Reporting and requires a payment of $117 to be sent to the purported “US Business Regulations Dept.” Alarmingly, some of these forms even mimic IRS documents, adding an extra layer...
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There’s a new federal law called the Corporate Transparency Act (CTA) that requires small businesses across the country to file reports disclosing their ownership structure and leadership. Failure to comply could result in major fines or even jail time for business owners.
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