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Attention small businesses.
The Corporate Transparency Act (CTA) went into effect on January 1, 2024, to help "prosecute and deter money laundering," to "deter tax fraud," and to deter the peaceful operation of small businesses whose owners don't have time to stay current on every new complex regulation.
Lawyer Lee Phillips said that CTA requires companies to file new sets of paperwork with the Financial Crimes Enforcement Network (“FinCEN”) and are essentially being investigated for a crime. Reporting is mandatory. Failure to comply with CTA carries a maximum fine of $500 per day up to $10,000 and criminal penalties, including up to two years in prison.
Simon Black says small businesses are targeted while large, publicly traded companies are specifically exempt from reporting under the CTA. So are hedge funds, banks, and other large financial entities. Heads-up, small business owners.
"The science of politics is the one science that is deposited by the streams of history, like the grains of gold in the sand of a river; and the knowledge of the past, the record of truths revealed by experience, is eminently practical, as an instrument of action and a power that goes to making the future."
Earlier today, another car was used as a tool of murder in yet another Christmas Market massacre. 11 killed, 60 injured. The Islamic State issued this call to murder in September 2014:
"So O muwahhid, do not let this battle pass you by wherever you may be. You must strike the soldiers, patrons, and troops of the tawaghit. Strike their police, security, and intelligence members, as well as their treacherous agents. Destroy them in their beds. Embitter their lives for them and busy them with themselves. If you can kill a disbelieving American or European — especially the spiteful and filthy French — or an Australian, or a Canadian, or any other disbeliever from the disbelievers waging war, including the citizens of the countries that entered into a coalition against the Islamic State, then rely upon Allah, and kill him in any manner or way however it may be….If you are not able to find an IED or a bullet, then single out the disbelieving American, Frenchman, or any of their allies. ...
"It cannot be emphasized too strongly or too often that this great nation was founded, not by religionists, but by Christians. It is when a people forget God that tyrants forge their chains.
"A true patriot as well as a genuine leader must always take the higher ground of God's law when confronted with the evils of man's law.
"Government is not the enemy, for it is ordained of God. The enemy to freedom is tyrannical government that presumes to take the place of God."
Patrick Henry
