With the looming expiration of the 2017 Tax Cuts and Jobs Act (TCJA) at the end of the year, one of the proposals being floated by the current administration is the complete repeal of the estate tax.

Effective January 1, 2024, the CTA requires Reporting Companies to disclose to FinCEN information about the company, its beneficial owners, and in some cases, the company applicant.  Reporting Companies that are created or registered prior to January 1, 2024, have until January 1, 2025, to file an initial report; reporting companies created or registered after January 1, 2024 and before January 1, 2025, will have ninety days after creation or registration to file a report. Entities created on or after January 1, 2025 will have 30 days to submit the reports to FinCEN.