10/23/2024
Attention Business Owners!!!!!!!!!!
Many companies are required to report information to FinCEN about the individuals who ultimately own or control them.
In 2021, Congress passed the Corporate Transparency Act on a bipartisan basis. This law creates a new beneficial ownership information reporting requirement as part of the U.S. government’s efforts to make it harder for bad actors to hide or benefit from their ill-gotten gains through shell companies or other opaque ownership structures.
Again, if you own a reporting company you must file this report!!! Companies required to report are called reporting companies.
Domestic reporting companies are corporations, limited liability companies, and any other entities created by the filing of a document with a secretary of state or any similar office in the United States.
The Following are the reporting deadlines:
A reporting company created or registered to do business before January 1, 2024, will have until January 1, 2025, to file its initial BOI report.
A reporting company created or registered in 2024 will have 90 calendar days to file after receiving actual or public notice that its creation or registration is effective.
A reporting company created or registered on or after January 1, 2025, will have 30 calendar days to file after receiving actual or public notice that its creation or registration is effective.
You can go to this website and file at no cost to you.
https://www.fincen.gov/boi
However, if you would like assistance in completing this required form, East Georgia Tax Services will be glad to handle the filing on your behalf. Our fee is $150 for company’s with one owner and $50 for each additional owner. Please email [email protected] with your company name and we will forward you all of the required information and an invoice to get started.
Please let us know if you have any further questions.
Thank you!
East Georgia Tax Staff
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