Starting in January, the Corporate Transparency Act will require more than 32 million businesses and other legal entities to report the personal information of their owners, key employees, and others to the federal government. 32 million!

The CTA is complex, expansive, and with less than a month to go, most Main Street businesses remain completely oblivious as to its existence.

To help demystify it all, S-Corp hosted a webinar yesterday featuring longtime ally and CTA expert Tim Terry of Hartz Capital.  Tim’s slides can be found here, and you can access a recording of the webinar by clicking the image below:

As mentioned in the webinar, Senators Rick Scott and Mike Rounds together with Representatives Patrick McHenry and Warren Davidson are circulating a letter urging a one-year delay of the CTA.

Doing so would give the government time to finish their work on the CTA’s regulatory framework, while providing tens of millions of small business owners time to prepare for the new law. If you are concerned about the impact the CTA will have on your operations, be sure to reach out to your congressional delegation and urge them to sign on.

For more about the impact the CTA will have on Main Street businesses and S-Corp’s advocacy efforts, click here.