Robert Smith, CEO of SWORD, warns us and informs us about what we know about Congress passing of The Corporate Transparency Act and what small businesses must do to fight it. Listen in to hear what you can do and what you must do.
Required Compliance with the Corporate Transparency Act is Near
We are less than 2 months from the January 1, 2025 date of required compliance with the Corporate Transparency Act (“CTA”) for corporate entities created prior to January 1, 2024. (If required to make disclosures under the CTA, Entities created in 2024 are required to make their disclosure within 90 days of formation.)
The penalties for failing to comply with CTA beneficial ownership reporting can be significant. The law provides that any person that willfully fails to comply or willfully provides false information may be subject to civil penalties of up to $500 per day and criminal penalties of up to $10,000 and two years in prison.
Contact Robert Smith at WWW.SWORDUSA.ORG
About Robert in his own words:
Over the past 11 months, I have developed a plan to inform, educate and warrior against the
CTA, Corporate Transparency Act, a potential legislation that will greatly harm and/or eliminate small US businesses. I believe I am one of the modern-day Paul Revere(s): I am just the guy warning the other warriors that the enemy is coming for small businesses. My Biblical heroes are Sampson and David. These two men ran toward the fight or battle and not from it. Both men had great courage and feared no one. They both had great faith, loved the Lord, and had a serious prayer life. I have tried to pattern my life with the Lord: Having faith in Jesus since I was 5, studying the Word as often as I could, and I have always sought God’s will. I have read the entire Bible over 25 times during my lifetime. I spent many hours in prayer. God has opened so many doors for me to bring me to this crusade for small businesses. As I reflect on my life, God has created me for serious battle with the deep state dragon that has lorded our brothers by using fear (IRS). My battles with IRS and other government agencies have been numerous and the successes, significant.
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