News Formal

Business owners should not forget anti-money laundering rule currently in legal limbo

  • 📰 AP
  • ⏱ Reading Time:
  • 38 sec. here
  • 14 min. at publisher
  • 📊 Quality Score:
  • News: 61%
  • Publisher: 51%

Texas Nouvelles

Janet Yellen,Corporate Crime,Money Laundering

Small business owners should not forget about a rule that requires them to register with an agency called the Financial Crimes Enforcement Network, or FinCEN, by Jan. 1. The registration is part of the Corporate Transparency Act passed in 2021.

Authorities impose overnight curfew in cyclone-ravaged Mayotte as France rushes in aidA 15-year-old girl fatally shoots a teacher and a teenager at a Christian school in WisconsinVikings win 7th straight to forge tie for NFC North lead with 30-12 blowout of reeling BearsHow the Roxies are made: Behind the iconic role in Broadway's megahit 'Chicago'Retail sales rose at healthy pace last month in latest sign of US economy's healthAncient genes pinpoint when humans and Neanderthals...

The registration is part of the Corporate Transparency Act, an anti-money laundering statue passed in 2021. Under the CTA, the owners and part-owners of an estimated 32.6 million small businesses must register personal information with FinCEN, such as a photo ID and home address. For now, the rule is on hold. On Dec. 3 a federal court in Texas issued a preliminary injunction prohibiting enforcement of the rule. FinCen has said registering is voluntary. But the injunction could be overturned on appeal, so small business owners should keep an eye on the case.

Doris Dike, a principal at Dike Law Group in Frisco, Texas, that works with small business healthcare clients, said she is concerned about the rule going into effect in 2025.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 728. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Alabama Governor Encourages Support for Small Businesses on Small Business SaturdayAlabama Governor Kay Ivey has declared the Saturday following Thanksgiving as Small Business Saturday, emphasizing the vital role small businesses play in the state's economy and communities. The governor encourages residents to support local businesses during the holiday season.
La source: wsfa12news - 🏆 338. / 59 Lire la suite »

BBB Urges Shoppers to Support Small Businesses on Small Business SaturdayThe Better Business Bureau (BBB) is encouraging consumers to allocate some of their Black Friday leftovers to Small Business Saturday, promoting the use of local and independent businesses. The BBB highlights the significant economic impact this day has on small businesses and their communities, and suggests ways for shoppers to find and support these establishments.
La source: komonews - 🏆 272. / 63 Lire la suite »

Small Business Saturday 2024: LA County cities offering incentives to shop smallSmall Business Saturday generated close to $17 billion in 2023.
La source: FOXLA - 🏆 445. / 53 Lire la suite »

Shopping Small Business Saturday can help boost business through next yearThe trifecta for holiday shoppers is almost here: Black Friday, Small Business Saturday, and Cyber Monday are all just days away.
La source: 6abc - 🏆 250. / 63 Lire la suite »

Small business loans on the rise in Utah, as ‘Startup State’ also sees new business growthThe pandemic has ushered in a new wave of entrepreneurs to Utah and has 'changed how people view earning money.'
La source: sltrib - 🏆 316. / 61 Lire la suite »

LastPass Business can protect all business teams big and smallLastPass Business is a comprehensive password management and identity management solution that allows seamless access to team accounts.
La source: DigitalTrends - 🏆 95. / 65 Lire la suite »