Aug 14
3 Things to Know About a Coming Wealth Planning Trap By Allison Bell - ThinkAdvisor
The federal Corporate Transparency Act could soon snap cash out of the vaults of wealthy, poorly advised foreign nationals with large investments in the United States.
Starting Jan. 1, 2024, the CTA will require U.S. companies to send reports about their real owners, or “underlying beneficial owners,” to the Internal Revenue Service. Companies that fail to file the reports will face fines of up to $500 per day.
