Pilgrim and Assoc. PA

Hope y'all have a Happy St. Patrick's Day. From the staff of Pilgrim and Assoc., PA

While this only affects the areas covered by the district court it is a start. They have ruled that the new Corporate Transparency Act and the Beneficial Ownership Reporting requirements unconstitutional https://www.journalofaccountancy.com/news/2024/mar/federal-court-holds-corporate-transparency-act-unconstitutional.html #:~:text=A%20federal%20district%20court%20in,)%20by%20businesses%2C%20is%20unconstitutional

We are open today Jan 18, 2024. We still have an ice covered parking lot so we do not recommend visiting our office today. We are answering our phones and if you need to get us anything we can receive documents by secure file exchange, e-mail or old school fax. Due to the potential of additional inclement weather we may not be open all day. For the next day or so our hours are determined by the weather. Our phone number is(662) 844-7171 and our fax is (662) 844-7152 if you need to get in contact with us.

Don’t forget,starting Jan 1, 2024, if you are a small business you may have to report ALL beneficial owners to the Financial Crimes Enforcement Network of the United States Government because …. Well because they need to know who owns your company to make sure you’re not engaging in financial crimes. No, this is not a joke. You can be fined up to $10,000 for failure to comply.

FinCEN Issues Compliance Guide to Help Small Businesses Report Beneficial Ownership Information | FinCEN.gov Immediate Release September 18, 2023 WASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) published a Small Entity Compliance Guide to assist the small business community in complying with the beneficial ownership information (BOI) reporting rule....