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New BOI (Beneficial Ownership Information) requirement goes into effect January 2024
New BOI (Beneficial Ownership Information) requirement goes into effect January 2024
New BOI (Beneficial Ownership Information) requirement goes into effect January 2024
The BOI requirement, or Beneficial Ownership Information requirement, is a new regulation that aims to increase transparency in businesses to prevent money laundering and other illicit activities. It applies to various entities such as corporations, LLCs, partnerships, and trusts.
Under this rule, businesses need to collect and report info
The BOI requirement, or Beneficial Ownership Information requirement, is a new regulation that aims to increase transparency in businesses to prevent money laundering and other illicit activities. It applies to various entities such as corporations, LLCs, partnerships, and trusts.
Under this rule, businesses need to collect and report information about their beneficial owners, who are individuals that ultimately own or control the entity. The required information includes the full names, addresses, dates of birth, identification numbers, and ownership percentages of these beneficial owners.
Compliance with the BOI requirement is important to avoid penalties and legal consequences. The specific reporting and compliance procedures may vary depending on the jurisdiction. Businesses may need to file reports with government agencies or maintain the information internally and provide it when requested.
By implementing the BOI requirement, authorities aim to uncover the true ownership structure of businesses, making it harder for criminals to hide behind anonymous companies. This regulation promotes transparency, strengthens anti-corruption efforts, supports law enforcement, and helps safeguard the economy.
Client-Centered Approach
New BOI (Beneficial Ownership Information) requirement goes into effect January 2024
New BOI (Beneficial Ownership Information) requirement goes into effect January 2024
At A.D. Juarez, LLC, we believe in a client-centered approach that prioritizes your unique needs. We take the time to understand your financial situation and provide tailored solutions that maximize your tax benefits.
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At A.D. Juarez, LLC, our mission is to provide reliable and affordable tax services to individuals and small businesses. We strive to simplify the tax filing process and ensure compliance with all state and federal regulations.
Our Expertise
Our Expertise
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With years of experience in the tax service industry, the team at A.D. Juarez, LLC is well-equipped to handle a variety of tax situations. Our expertise includes tax preparation ensuring you receive the best possible service.