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FinCEN › Tax Exemptions

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of... more +
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -
McDermott Will & Emery

IRS roundup: June 18 – July 11, 2025

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for June 18, 2025 – July 11, 2025. “One Big Beautiful Bill Act” tax provisions - On July 4, 2025, US President Donald...more

Baker Donelson

Corporate Transparency Act and Tax-Exempt Entities

Baker Donelson on

This alert provides an overview of the Corporate Transparency Act (CTA) and explains the procedures that a newly formed tax-exempt entity must undertake in order to comply with the CTA....more

Holtzman Vogel Baran Torchinsky & Josefiak

FinCEN Beneficial Ownership Reports Due Before the End of the Year

Holtzman Vogel Baran Torchinsky & Josefiak on

Under new rules that went into effect in 2024, certain business entities are now required to file Beneficial Ownership Information (“BOI”) Reports with the Financial Crimes Enforcement Network (“FinCEN”) of the U.S....more

Adams & Reese

CTA Deadline is Fast Approaching: Is Your Business Ready to Report Ownership Information by Jan. 1, 2025?

Adams & Reese on

Halloween is next week, the Presidential Election is in two weeks, the Thanksgiving turkey will be in the oven in about a month, and Santa Claus is coming down the chimney in two months....more

Seyfarth Shaw LLP

Demystifying the Corporate Transparency Act for Tax-Exempt Organizations – Part 2: CTA Compliance for Subsidiaries of Tax-Exempt...

Seyfarth Shaw LLP on

This article provides Corporate Transparency Act (CTA) guidance to tax-exempt organizations with subsidiaries. For a general overview of CTA compliance for nonprofit and tax-exempt organizations, please see Part 1: When to...more

Seyfarth Shaw LLP

Demystifying the Corporate Transparency Act for Tax-Exempt Organizations – Part 1: When to File a Beneficial Ownership Information...

Seyfarth Shaw LLP on

The Corporate Transparency Act (CTA) took effect on January 1, 2024 and some U.S. nonprofits and tax-exempt organizations are still debating how the CTA applies to them. This article provides newly-formed and existing...more

Seyfarth Shaw LLP

Growing Clarity: FinCEN Continues to Update Beneficial Ownership Reporting FAQs

Seyfarth Shaw LLP on

On April 18, 2024, the Financial Crimes Enforcement Network (FinCEN) released further guidance regarding to Corporate Transparency Act compliance (CTA) by updating and expanding the Beneficial Ownership Information Reporting...more

Dickinson Wright

Nonprofit Organizations and the Corporate Transparency Act

Dickinson Wright on

Effective as of January 1, 2024, the Corporate Transparency Act (“CTA”) requires most corporations, limited liability companies, and other registered entities to report Beneficial Ownership Information (“BOI”) to the U.S....more

Clark Hill PLC

The Corporate Transparency Act's Impact On Charities and Tax-Exempt Entities

Clark Hill PLC on

The Corporate Transparency Act (the “CTA”) became effective on Jan. 1. The CTA’s goal is to reduce money laundering and other financial crimes by requiring the reporting of ownership and control information of businesses...more

Rivkin Radler LLP

Not-for-Profits and the CTA

Rivkin Radler LLP on

Recently, there has been extensive reporting about the federal Corporate Transparency Act, or the “CTA,” the stated objective of which is to enhance transparency in entity structure and ownership in order to combat money...more

ArentFox Schiff

The Nonprofit Sector Need Not Apply: The Corporate Transparency Act and its Tax-Exempt Organization Exemptions

ArentFox Schiff on

ArentFox Schiff’s clients report being inundated with notices from registered agents and other service providers to comply with the Corporate Transparency Act (CTA), a new law that will require many existing and newly formed...more

Lathrop GPM

The Corporate Transparency Act and Tax-Exempt Organizations

Lathrop GPM on

Beginning January 1, 2024, many types of legal entities must report information regarding their “beneficial owners” and certain other information (collectively, “BOI”) to the Financial Crimes Enforcement Network (“FinCEN”)....more

Fox Rothschild LLP

The Corporate Transparency Act’s Effects on Nonprofits

Fox Rothschild LLP on

The Corporate Transparency Act (CTA), a new federal financial reporting law that will take effect on Jan. 1, 2024, is a hot topic in the corporate world these days. However, nonprofits also need to be aware of the law, which...more

Arnall Golden Gregory LLP

2024 Brings Estate Planning Opportunities, Significant Reporting Obligations

Arnall Golden Gregory LLP on

Wealthy families should consider taking advantage of the favorable estate planning environment that 2024 brings. Next year, the estate, gift, and generation-skipping transfer tax exemptions, which are adjusted annually for...more

Ballard Spahr LLP

Corporate Transparency Act FAQs

Ballard Spahr LLP on

1. What Is the Corporate Transparency Act and Why Was It Enacted? Congress enacted the Corporate Transparency Act (CTA) on January 1, 2021, to address concerns that the inaccessibility of U.S. companies’ beneficial ownership...more

Partridge Snow & Hahn LLP

The Corporate Transparency Act – Is Your Nonprofit Exempt?

Partridge Snow & Hahn LLP on

Beginning on January 1, 2024, the vast majority of new and existing business entities will become subject to beneficial ownership information reporting requirements under the Corporate Transparency Act and its related rules...more

Lowenstein Sandler LLP

Preparing Your Company for FinCEN’s Beneficial Ownership Reporting Requirements

Lowenstein Sandler LLP on

On September 29, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) reporting requirements...more

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