What is the Corporate Transparency Act?



Effective since January 1, 2024, the CTA requires nearly all U.S. entities to report Beneficial Ownership Information (BOI) to the Department of Treasury's Financial Crimes Enforcement Network (FinCEN). The regulation targets enhanced transparency to curb illicit activities like money laundering and…

There is a $5.5 billion lawsuit settlement involving Visa and Mastercard. Here's the critical information:

After two decades of litigation, this settlement was finalized in 2023, aiming to reimburse merchants, like yourself, who were overcharged for Interchange fees between 2004 and 2019. These fees, ranging from 1.5% to 3.5% of transaction amounts, could translate to $10,000 to $15,000 for every $1 million processed. Despite less than 2% of eligible merchants…

FFCRA, was a pivotal legislative response introduced in 2020. It emerged as one of the initial steps taken by the government to assist small business owners. The primary goal was to provide financial support for sick leave necessitated by the COVID-19 pandemic. The FFCRA underwent a significant expansion in 2021 which now includes U.S. citizens who were self-employed during the COVID-19 pandemic. You are still eligible for the Families First Coronavirus Response Act (FFCRA) benefits…