
This article was originally published on the O’Leary-Guth blog, Estate Planning Perspectives. It is republished here with permission. The Corporate Transparency Act was enacted by Congress on Jan. 1, 2021. The Act authorized the Financial Crimes Enforcement Network (FinCEN) to better track businesses in a broad attempt to prevent anonymous shell corporations and crack down on criminal enterprises that engage in money laundering, terrorism, drugs, etc. On Dec. 7, 2021, FinCEN issued proposed regulations that outline their new
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