The Corporate Transparency Act is a federal regulation aimed at preventing illegal activities by improving the transparency of business ownership. It matters to your company because failure to comply can result in hefty penalties, and it applies to most small to medium-sized businesses.
For accurate and stress-free filing, it’s best to use a trusted service like ours to handle your BOI compliance. Our team of experts ensures your filings are completed correctly, saving you time and minimizing the risk of costly penalties for errors or noncompliance.
Failure to comply can lead to severe consequences, including fines of up to $10,000 and possible imprisonment. Filing your report accurately and on time is essential to avoid these penalties and safeguard your business’s reputation.
The information required for a CTA filing can change if there are updates to your company’s beneficial ownership or other details. To remain compliant and avoid penalties, it’s crucial to update your filing within 30 days of any changes. Reach out to us as soon as you know of any changes to ensure your business remains fully compliant at all times. Call 513.278.7280 or Email support@swsstax.com for help.