A coalition of professional organizations are raising awareness about the new Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). This anti-money laundering measure, starting January 2024, requires millions of small businesses to report ownership details to FinCEN, with significant penalties for non-compliance. The coalition aims to ensure small businesses, particularly minority-owned and low-income entities, are prepared for these changes.

For more details, read the full article here: AICPA and Other Groups Call Attention to New Beneficial Ownership Information Reporting Requirements.