Corporate
Dec. 5, 2023
Businesses elevated as guardians of national security and financial integrity
The Corporate Transparency Act goes into effect Jan. 1, and underscores a paradigm shift – demanding a proactive approach from entities to ensure compliance and contribute to the overarching goals of protecting national security, promoting economic fairness, and fortifying the U.S. financial system against illicit activities.
Phil Jelsma
Partner and Chair of the Tax Practice Team
Crosbie Gliner Schiffman Southard & Swanson LLC (CGS3)
Email: pjelsma@cgs3.com
Phil is chair of the tax practice team at CGS3. He is recognized as a leading joint venture and tax attorney, with a 30-year background in real estate exchange transactions, syndications, nonprofit corporations and international tax planning.
Millions of corporations, limited liability companies and other legal entities are formed within the United States annually. According to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), while most of these entities play a viable and legitimate role in the U.S., unfortunately many are also used to facilitate illicit activities – enabling those who threaten national security to access and transact in the U....
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